Efforts to boost investment in Ekiti State have led the Ekiti State House of Assembly to pass a law stipulating a five-year jail term for land grabbers.
The Speaker of the Assembly, Adeoye Aribasoye, revealed this during a discussion with journalists in Ado Ekiti over the weekend.
The Speaker highlighted, “Recently, the House of Assembly passed a law, the Property Protection Law, also known as the anti-grabbing law.”
He explained further, “A significant aspect of the new law is the requirement for every family land to have a designated account for prospective buyers’ payments.”
Regarding the law amendment, he stated, “The penalty has been made stricter. Previously, the jail term was two years, but now, any violation of the law results in a five-year imprisonment and a 10% payment of the total land value.”
He added, “Furthermore, the defrauded individual has the right to pursue civil litigation to recover their full payment. This is an essential aspect of the law.”
The Speaker emphasized, “The objective is to tackle the issue of fraudulent family landowners and individuals claiming ownership (‘omo onile’) in Ekiti State, as this problem hinders investment in our land.”
He also mentioned that the law aims to “safeguard individuals’ hard-earned money to prevent any form of fraud.”
Aribasoye disclosed that the Assembly is working on regulating the activities of estate agents in Ekiti State.
He explained, “Our proposal requires estate agents to be registered in Ekiti State to operate. Similarly, only licensed surveyors and estate valuers can engage in their respective professions in the state. These measures are vital to curb social issues and fraudulent activities.”
Dr. Gboyega Oloniyo, the Director General of Ekiti State Bureau of Housing and Mortgage Development, recently announced the state government’s initiative to regulate exorbitant house rents in Ekiti by overseeing the real estate sector.
Oloniyo stated, “The government aims to establish laws and regulations to address inflated rents, ensuring residents’ lives are more manageable in Ekiti State.”
He affirmed, “The governor’s goal is to offer not just available but also accessible and affordable housing for the people.”
The Director General assured that stringent measures will be taken against unethical practices in the real estate sector, emphasizing the forthcoming legislation to rectify issues with rent hikes.
He also mentioned the upcoming construction of houses in Ekiti by the Federal Government, in collaboration with the Federal Housing Authority and the Federal Ministry of Housing, to address the housing demand.
Prince Olabode Ayeoba, the ERCAN Chairman in Ekiti State, applauded the state government’s collaboration, anticipating positive changes in the sector.
Ayeoba recommended the government to consider introducing low-cost housing units to meet accommodation needs and compel landlords to lower rents.