The Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Institute of Mortgage Brokers and Lenders of Nigeria (IMBLN) have formally inaugurated a Joint Task Committee (JTC) mandated to implement a landmark Memorandum of Understanding aimed at professionalising and sanitising Nigeria’s mortgage and real estate industry.
The inauguration ceremony, held on Wednesday, 11 March 2026 at the Boardroom of ICPC Headquarters in Abuja, marked the formal constitution of the committee originally provided for under the MoU signed by both institutions on 10 June 2024.
The event brought together senior officials of the ICPC, IMBLN leadership, members of the newly inaugurated committee, and representatives of professional bodies in the housing sector.
Presiding over the inauguration, ICPC Secretary Clifford Okwudiri Oparaodu, Esq., DSSRS, confirmed the committee’s mandate and formalised the membership list, noting that the exercise represented the operationalisation of a strategic agreement concluded in the previous year.
“This very important exercise forms part of the plans that were put in place last year. What we are here to do today is simply to formalise the process — the committee is duly constituted on this 11th day of March 2026.”
Oparaodu outlined the ICPC’s specific areas of interest within the collaboration, including database development and intelligence-sharing platforms between the Commission and relevant stakeholders, advocacy and public-awareness initiatives, curriculum development covering anti-fraud and anti-money laundering (AML) modules, and joint research, training and knowledge-sharing programmes.
“The property and construction sectors can sometimes be vulnerable to money-laundering activities. By anticipating these challenges, we can work together to strengthen safeguards within the industry.”
In his remarks, IMBLN Vice President ESV Ayodele Thomas grounded the collaboration in statute, citing the Institute of Mortgage Brokers and Lenders Establishment Act, 2022, which empowers IMBLN to promote best practices, provide professional oversight, and ensure ethical compliance across the mortgage and housing finance ecosystem.
“The mortgage and housing finance sector plays a critical role in national development — it serves as a bridge between financial institutions, property developers, real estate practitioners, and Nigerians seeking access to home ownership. Because of this central role, the sector must operate on the foundations of professionalism, transparency, and strict compliance with regulatory standards.”
Thomas identified the JTC’s key expected outcomes as the strengthening of compliance frameworks, promotion of ethical conduct in the mortgage and real estate sector, support for investor confidence and public trust, and the enforcement of IMBLN’s charters and mandates. He commended the ICPC for what he described as a forward-looking strategy of preventive collaboration with professional bodies.
For IMBLN, the inauguration represents the culmination of more than five years of institutional effort. Dr. Victor Ivoke, Co-chair of the JTC and Head of Internal Affairs and Enforcement at IMBLN, described the committee as a turning point for an industry long characterised by informal and unregulated practice.
“The idea behind today is that it represents the fulfilment of a dream that has been on this journey as an institution for over five years. Last year, we found a willing partner in the ICPC, and we began this process together.”
Dr. Ivoke painted a stark picture of the current state of the industry, citing widespread irregular practices including multiple lettings of single properties to different tenants, and the prevalence of unregistered agents operating without traceable office addresses or accountability structures.
“Anyone can simply wake up, claim to be an agent, and begin to lease land or houses to people. In some cases, you even find a single one-bedroom apartment leased to three or four different people, with money collected from all of them. They are then left to sort out the confusion among themselves, while the supposed agent disappears without a trace.”
He called for a regulated system modelled on other established professions, such as law and accountancy, where practitioners must be registered, trained and licensed before they can operate. IMBLN, he noted, is already making professional training available at little or no cost, with enforcement to follow after sufficient public awareness has been established.
“Before any enforcement begins, there must be adequate public awareness. We want to give practitioners enough time to understand the regulations and to comply with them.”
Dr. Ivoke further noted that a separate Act of Parliament, signed into law by the President, already empowers relevant bodies to regulate real estate practitioners and housing agents nationally, with violations subject to prosecution.
The partnership with ICPC is intended to provide the enforcement capacity that IMBLN alone could not wield.
“We were advised that if we attempted to enforce these measures alone, we might face resistance. That is why we chose to partner with institutions that are legally empowered to enforce compliance and prosecute offences where necessary.”
The JTC’s approved implementation roadmap includes five key deliverables: the establishment of a Joint Compliance and Ethics Enforcement Task Force; mandatory ethics and anti-corruption certification for sector practitioners; deployment of ICPC state offices as liaison points for nationwide monitoring and enforcement; a joint national compliance awareness campaign; and an annual Anti-Corruption and Compliance Summit.
Dr. Ivoke said the committee’s work would begin at the federal level before cascading to the states and eventually to local government level, with engagement starting at the Ministry of Housing and expanding through stakeholder meetings across the country. He confirmed that the EFCC has also been engaged as part of the broader effort to clean up the sector.
The committee draws members from key departments across both institutions. The ICPC delegation is led by Shehu Gambo of the Operations Department and comprises seven members in total, drawn from departments spanning Public Enlightenment and Education, the Anti-Corruption and Awareness Network (ACAN), System Study and Review, Proceeds of Crime, External Cooperation, and the Secretariat.
The IMBLN side, led by Dr. Victor Ivoke in his capacity as Head of Internal Affairs and Enforcement, also fields seven members, including Legal Counsel, Media and Publications, ICT, and administrative representation — bringing the total JTC membership to fourteen.
The inauguration signals a significant shift in how Nigeria’s regulatory architecture approaches the real estate sector — moving from isolated institutional mandates to a coordinated, cross-agency enforcement and compliance model backed by legislative authority.
Both institutions emphasised that the initial phase of the JTC’s work will prioritise advocacy, education and voluntary compliance over punitive enforcement, with seminars and training sessions — some offered free of charge — to be rolled out to estate agents, lawyers and other practitioners across the country.
The general consensus pointed to the premise that proper sanitisation of the real estate sector can generate significant income and provide employment for many people, provided implementation is professional to reduce the risk of corruption and minimise disputes.