The proposal to stop the flow of illegal monies into Sub-Saharan African real estate development has been revealed by the African Real Estate Society (AFRES). This was said yesterday by Adekunle Awolaja, President of AFRES, Nigerian Chapter ESV, who expressed concern over what he called “criminal elements” who might be hiding in the industry to carry out the horrible act.Ola Olukoyede, the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), will give a keynote address on “the flow of illicit funds in the property development within sub-Saharan Africa,” according to ESV Awolaja, who was highlighting the activities for the 24th AFRES Annual Conference, which is scheduled to take place in Nigeria from September 9–12.
It serves as a good caution to criminals who wish to use real estate development as a way to wash their hands of their illicit wealth. They steal sweat from others, then hide beneath the real estate development industry.
In the sense that it has not yet been fully explored, Africa is a green continent. We don’t want to become a refuge for criminals, which is what would happen if we don’t implement punitive measures. In terms of development, we want it to be distinct and consistent for each individual,” he stated.
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