Certified Institute of Auctioneers Unveils Growth Plan to Promote Excellence

The Certified Institute of Auctioneers has unveiled a strategic plan designed to reposition the profession in Nigeria, drive growth, and promote international best practices among practitioners. The plan, which was announced during a gathering of members and stakeholders, seeks to strengthen auctioneering standards, enhance professionalism, and create a more transparent market environment for buyers and sellers.

According to the leadership of the institute, auctioneering remains a vital aspect of commerce, finance, and asset management in Nigeria, yet the sector is still underexplored due to limited awareness and weak regulation. The new growth plan is therefore aimed at bridging these gaps by equipping members with global-standard knowledge, developing stronger partnerships with public and private institutions, and elevating the institute as the foremost authority on auction-related services in the country.

Speaking during the unveiling, the President of the Certified Institute of Auctioneers stressed that the future of auctioneering lies in adopting innovation and aligning with international practices. He noted that the institute has developed programmes to train its members in areas such as digital auctions, valuation methodologies, and ethics, all of which will improve the credibility of the industry. “Auctioneering is not just about selling assets, it is about ensuring trust, transparency, and value,” he said.

The institute also emphasised that auctioneering can play a bigger role in boosting Nigeria’s economy, especially by helping government agencies and corporate organisations recover value from non-performing assets. By standardising processes and creating an ethical framework, auctioneers can attract investors who are more confident in the fairness of transactions. The Certified Institute of Auctioneers believes that this could also contribute to strengthening Nigeria’s credit and financial systems.

Part of the growth plan involves the creation of a robust certification framework that ensures all practitioners meet minimum standards before being recognised as professionals. The institute highlighted that in many developed countries, auctioneers are licensed and regulated, which protects clients and helps to professionalise the industry. Bringing Nigeria closer to this model, it explained, would enhance the reputation of local practitioners and improve their competitiveness globally.

The Certified Institute of Auctioneers further disclosed that it would prioritise partnerships with government agencies to address the challenge of unregulated operators. The leadership noted that many unqualified individuals currently parade themselves as auctioneers, leading to fraudulent practices and loss of confidence among clients. The institute is therefore advocating for tighter laws and stronger collaboration with enforcement agencies to clamp down on quackery in the sector.

The plan also recognises the importance of technology in modern-day auctioneering. The institute announced that it is developing platforms for online auctions, which will make the practice more accessible and transparent. By leveraging digital tools, auctioneers can reach wider audiences, provide real-time bidding experiences, and reduce the risks of manipulation. This move, it noted, is especially critical in today’s globalised economy, where cross-border trade is expanding rapidly.

Training and continuous professional development form another pillar of the institute’s growth plan. To this end, the Certified Institute of Auctioneers will roll out new training programmes, seminars, and workshops to upgrade the skills of its members. Special attention will be given to ethical conduct, conflict resolution, and the application of international standards in asset disposal. This, it said, would help practitioners deliver better value to their clients and contribute meaningfully to national development.

Industry experts at the event praised the Certified Institute of Auctioneers for taking bold steps toward professionalising the sector. They argued that by setting higher benchmarks, the institute is laying the foundation for a stronger and more respected auctioneering profession in Nigeria. They also encouraged practitioners to take advantage of the training and certification programmes to enhance their credibility and improve the quality of their services.

In addition to professional development, the institute intends to promote public awareness campaigns that will educate Nigerians on the role of auctioneers in asset management and wealth creation. This, it explained, would demystify the profession and encourage more individuals and organisations to embrace auction services as a legitimate and efficient option for transactions.

The Certified Institute of Auctioneers equally pledged to deepen its international collaborations by engaging with global auction bodies and participating in knowledge exchange programmes. This, it noted, would expose Nigerian practitioners to new trends and best practices while positioning the country as an active player in the global auctioneering community.

The growth plan has also set targets for expanding the institute’s footprint across Nigeria through regional offices and digital platforms. This would ensure that auctioneering services are accessible nationwide and not limited to urban centres. By expanding its reach, the institute hopes to create new opportunities for young professionals and support broader economic inclusion.

As Nigeria continues to seek innovative ways to strengthen its economy, the Certified Institute of Auctioneers believes its new strategy will open a new chapter for the profession. The leadership expressed confidence that, with collective effort, auctioneering can become a pillar of financial and commercial stability in the country.

In conclusion, the unveiling of the growth plan is seen as a turning point for the auctioneering profession in Nigeria. By focusing on professionalism, technology, regulation, and international integration, the Certified Institute of Auctioneers has positioned itself as a catalyst for change. The institute reaffirmed its commitment to promoting excellence and building a transparent and credible system that will benefit not only its members but the Nigerian economy as a whole.