The Estate Surveyors and Valuers Registration Board of Nigeria has reinforced its stance on professional ethics, warning that strict disciplinary measures will be applied to practitioners whose actions undermine public trust in the real estate sector.
Speaking during the board’s 50th anniversary celebration, Acting Chairman, Terzungwe Dugeri, emphasised a zero-tolerance policy for unethical conduct, stressing that safeguarding integrity remains central to the profession’s credibility.
The event, which also featured the induction of 420 new estate surveyors and valuers, marked a milestone in the board’s history since its establishment in 1975. Dugeri noted that the latest intake brings the number of registered professionals to 7,954 but warned that the sector still faces a manpower gap relative to Nigeria’s expanding property market.
He urged newly inducted members to uphold professional standards and adapt to emerging trends, particularly the growing influence of technology and artificial intelligence in real estate practice.
According to him, clients are becoming increasingly tech-driven, and failure to meet evolving expectations could erode confidence in professional services.
In a keynote address, former ESVARBON chairman, Nweke Umezuruike, reviewed the board’s performance over the past five decades, acknowledging progress while pointing to lingering structural challenges.
He commended efforts to promote indigenous valuation standards and collaboration with the National Universities Commission in standardising estate management education. He also highlighted partnerships with the Nigerian Institution of Estate Surveyors and Valuers in conducting professional examinations.
However, Umezuruike raised concerns over gaps in institutional record-keeping, recurring leadership conflicts, weak enforcement of disciplinary measures, and funding limitations largely dependent on practitioners’ contributions.
He called for reforms, including improved leadership structures, expanded academic programmes, and increased financial support from key users of valuation services such as financial institutions, the judiciary, and anti-corruption agencies.
Also addressing the inductees, Chairman of the Board of Trustees of NIESV, Austin Otegbulu, stressed the importance of diligence and accountability in professional practice.
He warned that negligence could expose practitioners to legal liabilities, urging them to prioritise accuracy and ethical conduct in valuation work.
Otegbulu further noted that the profession is evolving toward data-driven analysis, sustainability, and environmental valuation, adding that only practitioners grounded in competence and integrity will remain relevant.
As the sector continues to expand, stakeholders say strengthening ethical compliance and professional standards will be critical to sustaining trust and driving growth in Nigeria’s real estate industry.
