In a move to clamp down on the laundering of illicit wealth through real estate, the Oyo State Anti-Corruption Agency (OYACA) has partnered with the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Oyo State branch.

The partnership was formalised on Wednesday during a courtesy visit by the estate professionals to OYACA headquarters in Ibadan.

Speaking during the engagement, Chairman of OYACA, Justice Eni Esan (rtd.), represented by the agency’s Executive Secretary, Ibrahim Tijani Esq., said the collaboration would significantly enhance efforts to detect and prevent the use of looted public funds in property acquisition and development across the state.

She noted that the alliance will aid in the identification, verification, valuation, and ethical disposal of assets recovered from corrupt practices. According to her, real estate remains a major area where illicit funds are often laundered, making regulation and due diligence in the sector critical to anti-corruption efforts.

“While congratulating your institution, we recognise your role in promoting ethical standards and professional conduct. It is time to further regulate the sector to prevent looted funds from being funnelled into the Oyo State real estate market,” Justice Esan stated.

The retired jurist also highlighted the agency’s achievements, disclosing that OYACA has investigated and concluded 309 corruption-related cases, resulting in the recovery of substantial sums of money from contractors and civil servants, as well as several prosecutions.

In his response, Chairman of NIESV, Oyo State branch, Estate Surveyor Olufisayo Ogunbiyi, pledged the institution’s support in ensuring transparency in property valuation and asset management. He emphasised that the partnership would also support the government’s efforts to eliminate illicit transactions in the real estate sector.

“This collaboration will strengthen the process of property valuation during investigations and boost public confidence in anti-corruption enforcement,” Ogunbiyi said.

Other attendees at the event included OYACA officials: Pastor Dr. Folasade Ajibade, Director of ICT; Mr. Tajudeen Azeez, Director of Finance and Administration; and NIESV Vice Chairman, Estate Surveyor Olasunkanmi Tanigbola.

The partnership is expected to enhance asset tracing, recovery, and ensure that confiscated properties are managed in accordance with professional and ethical standards.