Kwara warns residents against quack valuers

The Kwara State Government has issued a warning to residents against engaging unqualified individuals for property valuation, as stakeholders marked the International Valuation Day 2026 with renewed calls for professionalism in the real estate sector.

Speaking with PUNCH Online during a sensitisation rally in Ilorin on Tuesday, Chairman of the Nigerian Institution of Estate Surveyors and Valuers in Kwara State, Ali Abdulrasheed, said the warning became necessary due to the increasing activities of quack practitioners misrepresenting themselves as certified valuers.

Abdulrasheed explained that estate surveying comprises several areas of practice, but valuation remains the most critical as it cuts across all real estate transactions.

Abdulrasheed said, “Today, 5th of May, 2026, is set aside internationally for Valuation Day. The national body, in their wisdom, has set the day to raise awareness on the importance of valuation,” he said.

“In our profession, we have so many branches, but the one that cuts across everybody is valuation because everyone deals with real estate,” he added.

He noted that a large share of global wealth is tied to real estate, stressing that accurate valuation is key to informed investment decisions.

“Virtually 70 percent of the richest men in the world made it through real estate. People want to venture into it but need proper valuation to know the true worth of the property,” he said.

Describing valuation as a technical and professional exercise, he cautioned against trivialising the process.

“Valuation is not just mere classroom arithmetic. It is an economic resource for anyone who owns property and wants to invest wisely,” he stated.

Abdulrasheed said members of the institution used the occasion to embark on public sensitization across the state, aimed at educating residents on the importance of engaging certified professionals before carrying out property transactions.

“We will be walking around, talking and sensitizing the people on what we do and why valuation is important,” he said.

Addressing concerns about quack valuers, he insisted that only registered professionals are legally authorized to conduct property valuations.

“There is nobody who has the power to carry out a valuation except registered estate surveyors and valuers. Quacks may exist in agency and property management, but when it comes to valuation, nobody else is permitted,” he warned.

He advised members of the public to verify practitioners’ credentials before engaging their services.

“When someone talks to you about valuation, ask about their office location, logo and professional identity. Many of them only deal with development or leasing, not valuation,” he said.

“Please, do not patronize quacks. Seek professional services from registered estate surveyors and valuers to know the true worth of your property,” he cautioned.

Abdulrasheed added that while the law allows individuals to operate as real estate agents, valuation remains a strictly regulated professional duty.

“It is easier for quacks to penetrate agency services, but not valuation. That aspect is strictly professional,” he noted.

On professional discipline, he said members found wanting face sanctions, while non-members risk legal consequences.

“We have a disciplinary committee that ensures compliance with professional standards. Any member who violates the rules is penalized, while non-members engaging in illegal practice risk prosecution and possible jail terms,” he said.

Also speaking, Chairman of the 2026 Valuation Day in Kwara State, ESV Ibrahim Sani, described the observance as crucial to economic development.

“Valuation Day is an annual event that underscores the importance of valuation to the economic growth and development of the global community,” he said.

“Sensitization is a continuous process. Today is just one of many efforts to engage stakeholders and deepen public understanding. We have gained acceptance, but there is still room for improvement,” Sani added.

In her remarks, a member of the institution, Adedeji Hafsot, commended the Kwara State Government for its support, particularly through the Kwara State Geographical Information Service.

“The Kwara State Government, under the leadership of AbdulRahman AbdulRazaq, has been very supportive. We are also receiving increasing patronage from residents,” she said.

She added that the institution is open to partnerships with relevant agencies requiring professional expertise in property management and valuation.

International Valuation Day, observed annually on May 5, highlights the importance of asset valuation, estate surveying, and professional standards in ensuring economic stability and transparency in the built environment.

The NIESV in Kwara operates in close collaboration with, and as a professional arm within the framework of, the Kwara State Geographical Information Service, which oversees land administration and geospatial services in the state.