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ESVARBON introduces new adhesive stamps for valuation reports, others


The Estate Surveyors and Valuers Registration Board Of Nigeria (ESVARBON) has adopted new adhesive stamps for valuation reports.

To further boost its regulatory and control functions, the Board has also established a Regulatory Compliance and Enforcement Unit.

The unit to be coordinated by a very experienced registered estate surveyor and valuer is charged with the general duty of monitoring and reporting on practitioners compliance with the Board’s regulations and practice standards.

In addition, ESVARBON would launch its practice standards book, Green Book, a collaborative work of the International Valuation Standards Council (IVSC) and Royal Institution of Chartered Surveyors (RICS) before the end of the year.

Chairman of the Board, Sir Nweke Umezuruike, who disclosed this to newsmen in Lagos, said, the measures were to ensure that the profession is appropriately regulated for the larger public interest and that all registered estate surveyors and valuers deliver their professional services to the very high standards; while the clients and patrons of the services of estate surveyors and valuers receive value for their patronage.

He stressed that the endorsement by the users of valuation reports has led to the current high level of success recorded in the use of the adhesive stamps by registered valuers.

Sir Umezurike however said, the decision for the improved version of the adhesive stamp is to ensure compliance with standards and prevent quackery in the practice.

The new improved adhesive stamp, he said, is personalized, with individual practitioner’s name and seal/registration number and easier to use, with security features to avoid cloning and counterfeiting.

“The new Adhesive Stamps will now be applicable to a wider range of key professional services provided by all registered estate surveyors and valuers.

“This enlarged scope of application is expected to enhance better regulation and control and protect the integrity of professional services provided by registered estate surveyors and valuers in the overall practice of the profession”, he added.

The new stamp will become operational from January 1, 2019, while the existing stamps will continue to be used simultaneously with the new one until the end of June, 2019 when the use of the old stamps will be officially discontinued.

Also speaking, ESVARBON chairman, professional practice committee, Victor Alonge stressed that the creation of a Regulatory Compliance and Enforcement Unit was not meant to usurp the functions of the existing structures but to work with practitioners to ensure enforcement of standards, rules and regulations in the practice as enunciated in the code of professional conduct of registered estate surveyors and valuers.

He also announced the admission of ESVARBON into the Institutional Membership of the IVSC, which event will take place at the IVSC Annual General Meeting in Dubai, from 22nd -24th October, 2018.

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