National News
Inspection Fee and Its Negative Impacts on Real Estate Transactions,
Inspection Fee and Its Negative Impacts on Real Estate Transactions,
By Oluwakayode Abe
The profession of Estate Management and Valuation faces significant challenges due to the prevalence of unqualified individuals operating as quacks on a daily basis. The lack of awareness about the role and importance of an Estate Surveyor, along with the advantages of dealing with them, has had detrimental effects on various stakeholders in the Real Estate sector.
An Estate Surveyor is a qualified professional who has undergone formal education in “Estate Management” from an accredited institution. They have obtained certification from reputable organizations like the Nigerian Institution of Estate Surveyors and Valuers (NIESV) and been elected by the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON) to practice in the field of Estate Management and Valuation. Despite the importance of their expertise, many Nigerians remain unfamiliar with their roles and qualifications.
This lack of awareness has allowed unscrupulous individuals to exploit unsuspecting individuals by posing as Estate Agents. These self-proclaimed agents can be found on the streets, ready to take advantage of those seeking real estate services. They lack the necessary qualifications, knowledge, and professionalism required in the industry.
These quacks typically charge exorbitant fees, often as high as N5,000, for property inspections, even for properties that have already been rented. To maximize their profits, they may take multiple people to the same property in a single day, disregarding the needs and interests of their clients.
Their unprofessional conduct is another cause for concern. They often exhibit rudeness and a lack of respect towards potential tenants, tarnishing the reputation of legitimate Estate agents and eroding public trust in the industry.
Apart from the financial implications for individuals, these quacks also lack an understanding of the legal aspects of their work. This ignorance leads to poorly drafted tenancy agreements and legal disputes between tenants and landlords, causing unnecessary stress and inconvenience.
Moreover, the impact of these quacks is not limited to individuals alone. The Nigerian government suffers revenue losses in terms of property tax due to their involvement in the real estate sector. The presence of unlicensed agents reduces the government’s ability to collect taxes from unreported rental income.
READ ALSO: https://dailypost.ng/2023/08/02/niger-tribunal-set-to-give-ruling-on-17-petitions-445-exhibits/
To address this pressing issue, several measures need to be taken. Public awareness campaigns are essential to educate the public about the risks of dealing with unlicensed agents and the benefits of engaging registered and qualified Estate Surveyors and Valuers. Empowering consumers with knowledge on how to verify an agent’s credentials will help them make informed decisions and avoid falling victim to fraud.
Collaboration between the government, real estate industry, and consumer protection organizations through public-private partnerships can also make a significant impact. By pooling resources and expertise, stakeholders can develop comprehensive strategies to combat the presence of quacks and protect the interests of the public.
Additionally, governments should enforce strict regulations in the real estate sector, ensuring that only licensed professionals are allowed to operate. Implementing minimum qualifications, conducting background checks, and regular audits of real estate agents and agencies can help maintain the integrity and professionalism of the industry.
By taking these proactive measures, the real estate industry can effectively curb the spread of quacks, foster transparency, and build trust among all stakeholders, ultimately ensuring a safer and more reliable real estate market for everyone involved.
Oluwakayode Abe contributed this article through abeoluwakayode99@gmail.com
Inspection Fee and Its Negative Impacts on Real Estate Transactions,
National News
Three chinese crew members rescued in Nigeria after pirate attack on fishing vessel in ghanaian waters
Three chinese crew members rescued in Nigeria after pirate attack on fishing vessel in ghanaian waters
By: Zagazola Makama
Three Chinese crew members who were abducted by pirates during an attack on a Ghanaian fishing vessel, MV Menhin-1, have been rescued in Nigeria, the Ghana Police Service has said.
At a press briefing held on Tuesday at the Criminal Investigations Department (CID) Headquarters in Accra, The Director-General of the CID, COP, Lydia Yaako Donkor, said pirates, armed with AK-47 rifles, attacked the vessel on March 27, 2025, at about 1930 hours off Yenyano Waters near Tema, using outboard motor powered wooden canoes.
The attackers destroyed the vessel’s communication system before taking three Chinese crew members hostage, the police said.
The Marine Police Command in Tema received the complaint from the fishing company the following morning, on March 28, and immediately launched an investigation in collaboration with the Ghana Maritime Authority, Ghana Ports and Harbours Authority, National Investigation Bureau, the Ghana Navy, and the Fisheries Observer.
According to the police, the pirates blindfolded the victims and transported them in speedboats for 24 hours to a marshy area later identified as the Delta region of Nigeria. From there, they were moved on motorcycles and taken on foot to a makeshift camp where they were held at gunpoint until April 25, when they were suddenly abandoned.
The victims managed to reach a nearby village where locals assisted them to make contact with the Chinese embassy in Lagos, Nigeria. The embassy confirmed the rescue on April 26 and handed them over to Ghanaian authorities at the Kotoka International Airport on April 27.
A debriefing was conducted at the Police Headquarters in Accra on April 28. While there were no visible signs of physical harm, the victims appeared traumatised and requested medical attention.
The Inspector General of Police engaged with the victims and expressed sympathy and support for their ordeal.
So far, the police have arrested eight individuals in connection with the case. Those arrested include Sueva Victor, Kojo Akweli, Eugene Chibuke, Mwonam, Chinese cook Zhao Lang Hao, and second engineer Zhao Hua. They have been arraigned before the Tema District Court as investigations continue.
Police commended all stakeholders involved in the multi-agency operation for their swift action and coordination that led to the rescue of the kidnapped crew members.
Three chinese crew members rescued in Nigeria after pirate attack on fishing vessel in ghanaian waters
Protesters demand release of social media influencer in abuja
By: Zagazola Makama
A group of protesters on Monday staged a peaceful demonstration in Abuja demanding the release of social media influencer, Mr Vincent Martins Otse, popularly known as Verydarkman (VDM), who was arrested on May 2 by operatives of the Economic and Financial Crimes Commission (EFCC).
It was gathered that the protest began around 9 a.m. at the GTBank branch located at Plot 1072 J.S. Tarka Street, off Faskari Street, Area 3 Garki, where VDM was arrested alongside one other individual.
The protest was sparked by public outcry on social media platforms, particularly TikTok, Instagram and Facebook, following the arrest.
Three men wearing T-shirts with the inscription ‘Free VDM’ were first seen at the bank premises before regrouping with over 100 individuals
The protesters, carrying placards with various inscriptions, demanded the immediate and unconditional release of the influencer.
Police operatives from the Command’s State Intelligence Department (SID) and patrol teams were promptly deployed to the scene to ensure law and order.
The crowd was peacefully dispersed from the bank premises and proceeded to the EFCC Headquarters in continuation of their demonstration, reiterating their demands before moving on to Dantata Bridge along Airport Road, where they finally dispersed.
Police sources said “No untoward incident was recorded during the protest. The situation is under close monitoring,” the police added.
Police sources further assured that the deployment of anti-riot units to flashpoints, strategic locations, and government infrastructure within the FCT remains intact.
Protesters demand release of social media influencer in abuja
National News
VP Shettima Departs Abuja To Represent Nigeria At Inauguration Of Gabon’s President-elect
VP Shettima Departs Abuja To Represent Nigeria At Inauguration Of Gabon’s President-elect
By: Our Reporter
Vice President Kashim Shettima has departed Abuja for Libreville, Gabon, to represent Nigeria at the inauguration of the country’s President-elect, Brice Clotaire Oligui Nguema.
The Vice President left on Saturday, May 3, 2025, at the instance of President Bola Ahmed Tinubu.
Oligui Nguema, who had served as Gabon’s interim leader since August 2023, secured a decisive victory in the country’s April 12 presidential election.
Nigeria remains supportive of the peaceful democratic transition in Gabon and reaffirms the government’s broader strategic interest in promoting democratic governance and regional stability in Central Africa.
The Vice President is expected to return to Nigeria after the inauguration.
VP Shettima Departs Abuja To Represent Nigeria At Inauguration Of Gabon’s President-elect
-
News1 year agoRoger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
-
Opinions3 years agoTHE PLIGHT OF FARIDA
-
Opinions3 years agoPOLICE CHARGE ROOMS, A MINTING PRESS
-
News1 year agoEYN: Rev. Billi, Distortion of History, and The Living Tamarind Tree
-
Columns1 year agoArmy University Biu: There is certain interest, but certainly not from Borno.
-
ACADEMICS1 year agoA History of Biu” (2015) and The Lingering Bura-Pabir Question (1)
-
Opinions1 year agoTinubu,Shettima: The epidemic of economic, insecurity in Nigeria
-
Politics9 months agoKashim Shettima: Of Sentiments, Their Opinions, and the 21 billion Naira VP’s Official Resident
