The House of Representatives is to investigate allegations of misconduct and violation of applicable laws by estate developers within the Federal Capital Territory (FCT), with a view to plugging financial crimes in the sector.
The decision of the House followed a motion sponsored by Boma Goodhead (PDP, Rivers) alleging misconduct on the part of estate developers in the FCT, asking the House to create a forum for members of the public to lodge complaints against such “fraudulent developers”.
The Committee is also to liaise with enforcement agencies with a view to ensuring prosecution of those found to have gone against the required regulations with a view to putting an end to such sharp practices.
The House is also to work with relevant stakeholders and MDAs towards formulating laws, issuing guidelines and other appropriate legislations/regulations for this trillion-naira sector.
This will enhance monitoring, regulation, and ensure protection of investors of subscribers from illegal transactions and eliminate unethical real estate practices in the FCT.
