“Real estate activities are done with a large chunk of money. The effect on potential investors and buyers of real estate products is that it affects sales and letting of real estate. Former chairman, Nigerian Institution of Estate Surveyors and Valuers, (NIESV) Lagos branch, Dotun Bamigbola, does not see much to worry about the new naira policy and real estate as most transactions these days are done electronically, he agrees there is a slowdown. One of such laws is the new Anti-Money Laundering Act, which focuses mainly on real estate and discourages illicit money or unexplained wealth coming into the sector. According to CEO of Global PFI, MKO Balogun, real estate does not provide a haven for illicit money.
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