PROPERTY ARTICLES

The Nigerian Institute of Quantity Surveyors, Lagos State Chapter, has said for the ongoing banking reforms to have transformative impact on property and infrastructural development, it is necessary for bankers to undertake a multi-disciplinary capacity building. This, the institute said, would make it understand the complex, technical and professional issues involved.

The body also said mortgage sector shortfalls requiring the creation of a secondary mortgage market and re-capitalisation of the Federal Mortgage Bank, were inevitable to ensure readily accessible fund for development.

These were contained in the institute’s communiqué drawn from its second Annual Distinguished Lecture Series, which was made available to our correspondent on Saturday.

Other challenges noted in the communiqué were the dynamics of maintaining a balance between inflation and interest rates, which the body said were two key factors in funding and returns on investment, and nudging the banks to drive privatisation and concessioning.

The body also charged practitioners to brace for the challenges of the reforms and spearhead contribution to debates and policy formulation so as to impact positively on the infrastructural base and stock of capital formation which the economy required to experience sustainable growth and development.

It welcomed the Central Bank of Nigeria’s reforms as they were targeted at enhancing the quality of banks by the implementation of risk-based supervision, regulatory framework and provisions for consumer protection and internal transformation of the CBN itself.

It also called for the de-politicisation of infrastructural projects.

The communiqué read in part, "Contributors believe that the provision of infrastructure should be shielded away from partisan politics since the effect of the provision of adequate infrastructure transcends politics.