Reacting to the EFCC chairman’s statement that 90 percent of money laundering comes through the real estate sector, Wamakko said some people were from other professions before they joined real estate development which needed to be protected by real members.“But real estate is our business and we need to protect it, because if we didn’t protect it, it will affect us. If we allow other people to come and protect it for us, it will be a shame for us in the future.
Wamakko noted that there is a need to involve the stakeholders in the security agencies such as SCUML and NFIU which had been the association`s long standing partners, adding that what they were expecting from REDAN was to make reports on developers’ activities rather than give statements of accounts.
“We will be able to do whatever it takes to defend our integrity and we should endeavour to be reporting with our collaborators, they stand with us, at the last time myself and our immediate past president, Chime Ugwo were at SCUML where we represented real estate and were surprised to see the international monetary community that came into the country, we defended the real estate because we were the only self-regulatory association that was there, and they said, 82 percent are attached to...
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