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HDAN cautions estate developers against dubious acts

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Festus Adebayo

The Housing Development Advocacy Network (HDAN) has cautioned dubious developers operating in the sector to halt such hideous practices, as it’s detrimental to real estate’s growth.

The group also stressed the need for perpetrators of such acts to be named and shamed as well as make them face the full wrath of the law.

HDAN, in a statement by its Executive Director, Festus Adebayo, expressed worries over rising number of Nigerians who have fallen into the hands of dubious estate developers.

The rising cases, he noted, are so disturbing and alarming.

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Adebayo lamented that the dubious elements in the industry were taking advantage of the over 22 million housing gaps to exploit innocent Nigerians and thereby defrauding them of their hard-earned money.

He disclosed that as an advocacy group, it would be working with the police and Economic and Financial Crimes Commission (EFCC) to sanitise the industry this year.

Adebayo said HDAN would also be working closely with the Real Estate Developers Association of Nigeria (REDAN) to ensure the passage of the Real Estate Regulation Bill into law.

He said, “The increase in the number of Nigerians that have been scammed under the pretext of providing a house for them is alarming. Our investigation can confirm that some of these dubious developers are having many cases with the police and EFCC.
As an NGO, the issue of consumer protection will be number one of our agenda in 2021. We will support and collaborate with appropriate agencies in achieving this.

The HDAN boss added: “We must acknowledge the good works of Lagos State Regulatory Agency. It is one of the most commendable initiatives of Governor Babajide Sanwo-Olu.

“We hereby call on the Federal Capital Territory Minister to establish Real Estate Regulation Agency, to check cases of real estate frauds in FCT.”

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