ESVARBON Reinforces Ethical Standards and Warns Against Misconduct
The Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON) has strongly reiterated its zero-tolerance stance towards unethical practices, emphasizing that stringent mechanisms are firmly in place to sanction any conduct that could potentially undermine public trust in the profession. This warning was issued during the board's 50th anniversary celebration, which also marked the induction of 420 new estate surveyors and valuers.
Manpower Shortages and Technological Demands Highlighted
Acting Chairman of ESVARBON, Prof. Terzungwe Dugeri, described the milestone as significant but noted that the profession still lacks the necessary manpower to adequately meet Nigeria's growing property and land management needs. According to him, the latest induction brings the total number of registered practitioners to 7,954, yet he urged the new entrants to uphold the highest standards of professionalism. "We are gradually building the critical mass needed to impact the real estate sector, but we are still far from the numbers required," he stated.
Dugeri also urged practitioners to embrace technology and continuous learning, warning that the increasing influence of artificial intelligence is reshaping professional practice. "The clients we serve today are highly tech-savvy and increasingly AI-driven. If we fail to deliver services that meet 21st-century expectations, they will look elsewhere," he cautioned.
Historical Review and Calls for Reform
In a keynote address, a past chairman of ESVARBON, Nweke Umezuruike, reviewed the board's performance over the past five decades, highlighting both achievements and persistent challenges. He commended the board for championing the adoption of indigenous valuation standards and collaborating with the National Universities Commission to standardize estate management education and accreditation in Nigerian universities, as well as working with the Nigerian Institution of Estate Surveyors and Valuers (NIESV) on qualifying examinations.
However, Umezuruike criticized the lack of proper institutional records, describing it as a major lapse for a regulatory body with a 50-year history. He also identified recurring conflicts between board chairmen and registrars, weak disciplinary enforcement, and funding constraints largely dependent on practitioners' fees. He called for reforms in leadership selection, expansion of academic programmes, and increased financial support from key institutional users of valuation services, including anti-corruption agencies, the judiciary, and financial institutions. Umezuruike further urged the board to digitize its records and resolve legal ambiguities surrounding the registration of practising firms.
Duty of Care and Future Relevance
Chairman of the Board of Trustees of NIESV, Prof. Austin Otegbulu, in his charge to the inductees, emphasized their duty of care to clients, warning that negligence could result in liability. He stressed that valuation remains the core of the profession and urged them to study the Nigerian Valuation Standards, also known as the Green Book, thoroughly. Otegbulu noted that the profession is evolving towards data-driven analysis, sustainability, and environmental valuation, adding that only practitioners grounded in knowledge, ethics, and integrity will remain relevant. "Shortcuts may appear harmless, but small lapses in judgment can quickly escalate into major professional failures," he warned.
