‘Get certified or face sanctions’ Institute tells housing stakeholders
Professionals in the mortgage and real estate sector have been urged to obtain the necessary certification and license of practice or face sanctions for breaking the law.
The Registrar/Chief Executive Officer, Institute of Mortgage Brokers and Lenders of Nigeria, (IMBLN), Dr. Jasper Adeleye made this known in a statement he signed on Tuesday in Abuja.
He said the 2020 Act establishing the institute makes it the only body responsible to regulate the sector with powers to eliminate unlicensed practitioners.
The institute was incorporated under the CAP 59 of 2004, and signed by former President, Muhammadu Buhari. The Act brings under the institute mortgage professionals, mortgage brokers, real estate brokers, mortgage agents and real estate agents under the direct regulatory oversight of the Institute of Mortgage Brokers and Lenders of Nigeria, (IMBLN).
Dr. Adeleye then called “on all stakeholders to ensure compliance with the regulator of the sector or risk legal proceedings and other sanctions as stipulated in the Act (2022) as gazetted.
The Registrar said the institute’s mandate includes: aiding access to mortgage facilities, regulating the practices of all corporate or incorporate bodies, societies, firms, companies or persons as sacrosanct, and it will pursue with all vigour, as empowered by the Law establishing it”.
The Institute was established following the passage of its Bill by the House of Representatives in March of 2021, and a concurrency by the Senate in September 2022. The Act was signed by then President, Muhammadu Buhari in December, 2022.
The Institute of Mortgage Brokers and Lenders of Nigeria, (IMBLN)
is responsible for the regulation and certification of all mortgage professionals, real estate practitioners and agents in Nigeria with the intention to eliminate fraudsters from the industry by providing Training, Certification and Licensing for practitioners of the sector.
