The Certified Institute of Auctioneers (CIA) Nigeria, has called on the Nigerian Customs Service, and other government agencies to adopt a reform model to regulate the auction industry as well as to reduce the incidence of corruption and promote professionalism.
The reform model, they said, would show sound business practices, which is in line with international best practice wherein auctioneers are engaged by government departments and offices for the disposal of surplus, seized and confiscated goods and properties qualified.
They observed that this is the practice in the United States (U.S.), and United Kingdom (U.K.), where there are websites listing goods and properties available for auctions with the auctioneers names, place and date of such auctions for public participation.
The Chief Executive Officer and Registrar, CIA, Adeleke Hassan, said the Lagos State Government’s introduction of the Auction Law to regulate and license the auctioneers in collaboration with the Institute, has really helped to weed-out many untrained and unscrupulous auctioneers, and also restored sanity to the profession.
“The institute is responsible for training and certification of the auctioneers before the issuance of licence by the state government… Lagos, as it is today, is the most populous and commercial centre of Nigeria, and there are many opportunities to grow the auction industry in the state. In art auction industry, Lagos has the capacity to host auction houses and other specialist auctioneers in automobile, chattels and real estate auctions,” he said.
Hassan also said the Economic and Financial Crime Commission (EFCC’s) advert in the Federal Government Tender Journal, and other newspapers requesting for the services of auctioneers showed that there was an urgent need for the reform model, which the Institute could help in promoting through its training and certification.
“Today, the Institute has developed auction courses locally, leading to Advanced Diploma in Property auctioneering in collaboration with the University of Ibadan Consultancy Services Unit. The Institute entered into a Memorandum of Association with NAVA–UK and over 50 members benefited from different forms of international training in Chattels’ basic and advanced property auctioneering in London. The Chartered bill of the Institute has passed second reading in the Nigerian Senate,” he added.