The leadership of the Certified Institute of Auctioneers of Nigeria (CIAN) and other stakeholders on Tuesday kicked against the bill which seeks to establish the Auctioneers Registration Council of Nigeria.
The stakeholders expressed their opposition during the public hearing held at the instance of House Committee on Commerce, chaired by Hon. Femi Fakeye.
While observing that the proposed Auctioneers Registration Council of Nigeria is not registered with Corporate Affairs Commission (CAC) as stipulated by relevant and extant laws, they observed that there is an existing legislation passed by the House and Senate in the 8th Assembly which was not assented to by Mr. President and currently passed by the 9th Assembly awaiting the concurrence of the Senate.
As stipulated in the memorandum titled: ‘Notice of objection to Auctioneers Registration Council of Nigeria’, submitted by CIAN through its Registrar/CEO, Mr. Adeleke Hassan, the Institute argued that the proposed legislation is inimical to auctioneering development, lead to duplication of regulatory agencies in the country and put financial strain on Federal Government.
“We, members of the Certified Institute of Auctioneers were never consulted as a major stakeholder in the industry for our opinion.
“Therefore, passing the Auctioneers Registration Council of Nigeria HB 1489 bill will be inimical to the growth of Auction industry and profession in Nigeria. It will bring problems to every auctioneer in Nigeria.
“It will lead to duplication of regulatory bodies in Nigeria which will bring conflict in the industry rather than harmony.
“The bill will require the establishment of an auctioneers’ commission in each state of the federation to enforce law and regulate Auctioneers. It will also require Federal Government budgetary allocation on yearly basis for capital and recurrent expenditures which will be costly to the government at the federal level.
“Presently, the Lagos state Auctioneer’s licence law 2015 charges N50,000 to obtain licence, and that means if the Auctioneers Registration Council of Nigeria is allowed, it will also charge similar or a higher amount for licensing which will be duplication of licensing costs to Auctioneers. There is nowhere in the world where licensing of Auctioneers is done at Federal and state levels concurrently.
“Presently, each state in Nigeria has the authority to regulate auction sales, auctioneers and the business of an auctioneer within its borders. Each state and Zone in Nigeria have auctioneer’s laws that regulate the profession such as Lagos State Auctioneers law 2015, Oyo State Auctioneers law, Rivers State Auctioneers law, Northern Nigeria Auctioneers law, Kaduna State mortgages and foreclosures law 2017.
“In the time past, when we had regional governments in Nigeria, there were Western Region Auctions law, Eastern Region Auctions law and Northern Nigeria Region Auctions law. When Nigeria was divided into states, the auctions law at the regional level was domesticated at the state level for easy administration.
“Therefore, the auction laws in each state establish minimum standards for auctioneers for the protection of public from unprofessional conduct of auctioneers.”
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