Assets valuers under the aegis of Association of Capital Market Valuers in Nigeria have said they will work to ensure the housing sector is listed on the stock exchange, following its recognition by the Securities and Exchange Commission.
The association’s Chairman, Chudi Ubosi, was quoted in the statement as saying, “When a business wants to raise money; when they need to determine how much should be raised as well as when they approach the negotiating table, valuations are needed in all instances. Ubosi noted, “Some of these entrants may engage valuers whose allegiance is not to SEC meaning that the integrity of such valuation may be at stake and the results questionable. We believe that an operator with the cash/asset mix of 60/40 ought to have those assets valued to ensure they are genuine.
yq