Reps move to reform 69-year-old Trustee Investment Act

By Gift ChapiOdekina, Abuja
The House of Representatives has begun moves to reform Nigeria’s 69-year-old Trustee Investments Act, while seeking a coordinated regulatory framework to tackle fraud, fragmented property records and weak consumer protection in the real estate sector.

Speaker of the House, Tajudeen Abbas, said the proposed reforms were aimed at modernising the country’s legal framework to reflect changing financial and investment realities, while protecting the interests of beneficiaries and investors.

Abbas, represented by a member of the House representing Lafia/Obi Federal Constituency, Nasarawa State, Dahiru Abubakar Sarki, spoke on Monday at a public hearing on t...