TheCable

The Lagos state government has given auctioneering licenses to 3A auction house and 10 others.

Rotimi Ogunleye, commissioner for commerce, industry and cooperative, gave the licences to the auction houses after the passage of a law by the state government regulating activities of auctioneers.

Ogunleye said auctioneers contribute positively to any economy and that is why quacks would not be allowed to operate the business.

“It is now mandatory by the laws of Lagos State for any auctioneer doing business in the state to be duly licensed by the ministry of commerce, industry and cooperative,” he said.

“Auctioneers contribute positively to the economy of any society and that is why we cannot just allow quacks to be in the business. It is an industry with large returns for the economy, and so only those who are certified will be allowed to do it.”

On his part, Abimbola Akingboye, managing director of 3A auction house, said the economy was losing so much due to the activities of quacks in the industry.

He said with the license, they could do business knowing that their clients will have confidence in them.

“I am really happy with the move by the Lagos State Government because with this recognition, we can now do business freely and knowing that our clients trust and have full confidence in us,” he said.

“Auctioneering is not just about disposing unused items; it is about attracting the right value to an item or investment in a dignified and hassle-free manner.

“We saw the loopholes and therefore set up our business to respond to the needs we have seen. It’s quite expensive to set up a proper auction business in Nigeria.

“However with the latest move by the Lagos state government, we can now look forward to having great returns on our investment and also providing a lot of employment opportunities for Nigerians.”