The Executive Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has cautioned the Real Estate Developers Association of Nigeria against exposure to financial crimes.
Olukoyede urged real estate developers to uphold effective tax administration, financial integrity, and transparent beneficial ownership disclosures.
He gave the charge in Abuja on Wednesday, February 4, 2026, at REDAN’s 17th Annual General Meeting.
The meeting focused on the theme, “The New Tax Law as a Strategic Tool for Real Estate Finance and Housing Affordability.”
Olukoyede stressed the need for strict compliance with anti-money laundering and counter-terrorism financing regulations in the sector.
He said criminals often target real estate to launder money and finance illegal activities.
The EFCC chairman was represented by the Head of Compliance and Enforcement at SCUML, Kazeem Oseni.
Oseni described the AGM theme as timely, citing recent tax reforms under President Bola Tinubu’s administration.
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He said the reforms could unlock sustainable real estate financing and improve housing affordability.
Oseni added that strong tax compliance would deepen investor confidence and promote transparency.
He called for sustained collaboration between the EFCC, SCUML, and real estate stakeholders.
Oseni said SCUML would continue providing guidance, capacity building, and risk-based supervision.
He commended REDAN for its partnership with the commission.
REDAN President, Oba Akintoye Adeoye, said collaboration remained vital for national development.
He noted the sector faced major economic and fiscal reforms.
Town Planners Institute President, Ogbonna Chime, said developers played a key role in shaping sustainable cities.
He urged stronger cooperation between planners and developers.
