Reps pass Chartered Auctioneers Bill

The House of Representatives have passed the Chartered Auctioneers Bill, which provides, among others, for the regulation and control of standard of skills and knowledge, disciplinary rules and procedures of dealing with erring auctioneers to restore sanity and better auction industry in Nigeria.

The auctioneering profession in Nigeria has no statutory body to regulate and control business activities in the industry until recently when the Chartered Institute of Auctioneers of Nigeria Bill was passed.

The Chartered Institute of Auctioneers of Nigeria is made up of various disciplines in sales and marketing, estate management, accounting, ICT, valuers, engineering, as well as procurement with international affiliations in the United States (US), South Africa and United Kingdom (UK)

It is to establish training centres in Lagos, Oyo, Delta and Kano states, as well as the Federal Capital Territory (FCT).