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Sunday, January 31, 2021 / 07:00 AM / By SEC / Header Image Credit: Cash Flow Analysis
The SUNDRY AMENDMENT on VALUATION REPORT/RULE 522 in Nigeria
Full Text of the Existing
Rule -
(i) The Valuation report
for a new application shall be valid for nine months from the date of the
valuation
(ii) A valuation report of the REICO's real estate shall be filed with the Commission annually by a real estate valuer registered with the Commission in line with a recognised Valuation Standard.
Proposed Amendment -
(k) Rating and Valuation
Reports
(i) A rating report by
a registered rating agency shall be filed with the Commission every two (2)
years.
(ii) The Valuation report
for a new application shall be valid for nine months from the date of the
valuation
(iii) A valuation report of the REICO's real estate be
filed with the Commission annually by a real estate valuer registered with the
Commission in line with a recognized Valuation Standard.
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