How can Odinala Invest sell Nigerian Real Estate?
To be in compliance with provisions of the Act and its exemptions we are required to provide full, fair, and accurate disclosure of all aspects, including risks and restrictions on transferability and resale, of your purchase and ownership of a Odinala Invest asset so you are in a position to make an informed investment decision.
Our detailed Private Placement Memorandum, Subscription Documentation, and commitment to provide ongoing property operating results and market evaluation relative to each property Token offering all support our commitment to satisfy Nigerian SEC and your investment needs. CURRENT LAWS AROUND SHARED PROPERTY (GROUP) OWNERSHIP IN NIGERIA Joint ownership as the name implies, presupposes that each party has a right of ownership in the land and can exercise such power accruable to them on the property. In Nigeria, the general law governing ownership of properties/land is the Land Use Act and there are no restrictions on joint ownership of property. Parties are therefore free to include terms that they will be bound by as it relates to exercising their rights in the property(ies) they jointly own. CURRENT LAWS AROUND TOKENISATON IN NIGERIA The Central Bank of Nigeria (CBN) which is Nigeria’s financial market regulator does not currently validate the use of block chain technology. Indeed, it is crucial to note that Nigeria currently has no legal framework regulating block chain. It is also common knowledge that in
Similarly, not long after, the Securities & Exchange Commission (SEC) stated that its decision to regulate cryptocurrency investments in Nigeria had been suspended.suspended. This in itself is a major benefit to our business as we are now working with Nigerian regulators to guide our operations and contribution to the regulation of the blockchain space. Which we believe will inevitably bloom in Nigeria in the coming years. Furthermore, certain existing laws and regulations generally apply to a number of block-chain applications across various industries. The Central Bank of Nigeria (CBN) know-your-customer (KYC) and anti-money laundering/counter-terrorist financing (AML/CFT) policies require banks to ensure effective AML/CFT controls over customers which are virtual currency exchangers. This ensures customer identification, verification and transaction monitoring. We will continue to work closely to ensure all ur business activities do not violate any nigerian laws.