The Certified Institute of Auctioneers of Nigeria (CIAN) has urged the federal government to certify auctioneering practitioners, so as to unlock fresh streams of revenue and employment for the auctioneering industry
The institute made the appeal during its visit to the News Agency of Nigeria (NAN) in Lagos on Sunday.
Chairman of CIAN, Mr Babatunde Disu, said that the official certification would curb unprofessional practices, protect consumers and strengthen confidence in auctions as a legitimate economic activity.
He said that auctioneering was poorly understood in Nigeria, in spite of its global role in asset valuation and transparent sales.
“Our focus is professionalism; Auctioneering is not a casual activity, It is a structured process that ensures that goods are sold at their true economic value,” he said
He argued that without regulation, assets were often undervalued, depriving sellers, including government agencies and businesses, of optimal returns.
He said that CIAN had been engaging the Lagos State Government on a review of existing auctioneering laws, to align them with modern standards and international best practices.
According to Disu, clearer rules would help safeguard the rights of both buyers and sellers while reducing disputes and sharp practices.
He noted that CIAN currently has more than 400 registered auctioneers in the state, and is working to expand its reach nationwide.
In the same vein, Secretary of CIAN, Mrs Sabrina Opere, also said that auctions were frequently misunderstood as distress sales, when in reality they are a tool for price discovery.
“Auctioneering is not about knock-down prices; it is about bringing many willing buyers into one space to determine the true worth of an item,” she said.
She noted that properly conducted auctions promotes transparency and fairness, especially in the disposal of seized, surplus or obsolete assets.
In his contribution, CIAN Treasurer, Mr Paul Oke, said that professional auctioneers could also help businesses and individuals to improve liquidity by converting idle assets into cash.
“When assets are properly identified and approved for auction, they become a source of cash flow rather than waste,” he said.
The institute also highlighted the sector’s potential for job creation, noting that young people could enter the profession as trainees and progress through structured certification.
In her reaction, the Acting Head of NAN Lagos Operations, (HLO) Hajia Ifeyinwa Omowole, said that the agency is always available to disseminate stories across the media space.
The HLO urged the organisation to feel free to approach NAN for an update.
Besides, she hinted that aside photos, print and audio stories, NAN also publishes video stories on its YouTube channel.
