The Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON) has reiterated its zero tolerance for unethical practices, warning that stringent mechanisms are in place to sanction conduct capable of undermining public trust in the profession.
Acting Chairman of ESVARBON, Prof. Terzungwe Dugeri, stated this during the board’s 50th anniversary celebration, marking its establishment by Decree No. 24 of 1975, alongside the induction of 420 new estate surveyors and valuers.
He described the milestone as significant but noted that the profession still lacks the manpower required to 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, while urging 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 said.
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 said.
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 standardise 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, he criticised the lack of proper institutional records, describing it as a major lapse for a regulatory body with a 50-year history. Umezuruike 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 digitise its records and resolve legal ambiguities surrounding the registration of practising firms.
Chairman of the Board of Trustees of NIESV, Prof. Austin Otegbulu, in his charge to the inductees, emphasised 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.
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