ESVARBON Will Enforce Act for Seamless Asset Valuation, Says Fatokun
The new Chairman of the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON), Chief Dosu Fatokun has said they would enforce the Act setting up the Board to ensure there is proper valuation of assets and regulation of real estate and facility management practice in the country.
Fatokun stated this after a formal handing over ceremony by the immediate past Chairman, EVS Gershom Henshaw, in Abuja, recently.
Fatokun said he would build on the legacies of his predecessors, and that he would “want to see whether we’re occupying, effectively, the legal space given to us by Decree 24, 1975, that is, CAP 111. That is the law that confers recognition to ESVARBON.
“We are supposed to supervise, nurture a number of academic disciplines, professional disciplines. For example, property management, facility management. So, I want to see how effective we have been occupying that space. If you look at the Nigerian economy today, if there’s anything that gives us joy is that the Nigerian Stock Exchange has been doing well since the past one year, in fact over 100% increase, look at the capitalization that’s the total investment in exchange. This total capitalization represents land and buildings, land and machinery that are invested in this economy. If you look at our setup, we have a lot to do. We cannot only value them for a number of purposes, we also have to manage them. So I want to see how far we are registering our presence in these aspects. For example, MTN went to exchange last year, the same thing with transcorp power.