The Institute of Mortgage Brokers and Lenders in Nigeria (IMBLN) has faulted the Ebonyi State Government’s decision to ban estate and mortgage agents, insisting that the state has no constitutional power to enforce such a policy.
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In a statement on Wednesday, the Registrar and Chief Executive Officer of IMBLN, Dr. Jasper Adeleye, said while Governor Francis Nwifuru’s concerns about fraud and exploitation in the housing sector were genuine, an outright ban was misguided.
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He explained that only federal laws and professional bodies like IMBLN have the mandate to regulate the real estate and mortgage industry, stressing that the responsibility of state governments should be to enforce existing regulations rather than impose blanket prohibitions.
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Adeleye described the governor’s action as a wake-up call to sanitize the sector but maintained that professional regulation, not bans, was the solution. He added that IMBLN, which was established by an Act of the National Assembly, is already working to raise ethical standards and promote accountability within the industry.
He announced that beginning January 2026, the Institute will launch a nationwide enforcement drive to flush out unlicensed agents, warning Nigerians against patronising unregistered practitioners. Adeleye also called on federal anti-corruption bodies such as the ICPC to partner with IMBLN in cleaning up the sector and protecting home seekers from exploitation.
The development comes after Governor Nwifuru declared a total ban on house and land agents in Ebonyi starting January 1, 2026. The governor had said the decision was aimed at curbing skyrocketing rents and excessive charges, with some agents reportedly collecting up to ₦500,000 in illegal fees for properties they did not own.
While the state government insists the measure will shield residents from exploitation, IMBLN has made clear that only professional bodies operating under federal law have the authority to regulate estate and mortgage practice across the country.
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