{"id":56582,"date":"2022-03-08T22:19:43","date_gmt":"2022-03-08T21:19:43","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=56582"},"modified":"2022-03-08T22:19:43","modified_gmt":"2022-03-08T21:19:43","slug":"ecobank-extends-mortgage-finance-to-civil-servants-in-ogun-state","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/ecobank-extends-mortgage-finance-to-civil-servants-in-ogun-state\/","title":{"rendered":"Ecobank Extends Mortgage Finance To Civil Servants In Ogun State"},"content":{"rendered":"<p class=\"yiv5333548029MsoNormal\">Ecobank Nigeria has entered into partnership agreement with Ogun State government to provide mortgage financing to interested civil servants who are allotees of the state\u2019s housing scheme.<\/p>\n<p class=\"yiv5333548029MsoNormal\">Under the housing scheme, the Ogun State Government has developed an acquisition arrangement to build and allocate houses to senior civil servants, to be purchased through installment within a defined period of time. With this partnership, Ecobank is to provide mortgage finance facility to interested and qualified beneficiaries that meet the Bank\u2019s credit risk acceptance criteria and other conditions.<\/p>\n<p class=\"yiv5333548029xmsonormal\">According to the Memorandum of Understanding (MoU) between both parties, the allotee must have been in continuous employment with the state government for at least thirty-six months prior to the application for the facility, while Ecobank is expected to review and approve loan applications based on the agreed terms.<\/p>\n<p class=\"yiv5333548029xmsonormal\">Commenting for Consumer Banking, Ecobank Nigeria, Victor Yalokwu said the Bank is excited with partnering Ogun State Government in its housing scheme for civil servants in the state, stressing that the Bank is committed to deploying its pedigree in mortgage financing and other loans solutions to support the allotees of the houses.<\/p>\n<p class=\"yiv5333548029xmsonormal\">He disclosed that necessary structure and conditions have been put in place to ensure a seamless and stress-free exercise, noting that the Bank will diligently perform its obligations to meet the expectations of both the state government and beneficiaries of the housing scheme. \u201cEcobank will work with the allotees, provide adequate guidance where required, review the loan applications in line with the Bank&#8217;s acceptance criteria and disburse funds for consummated transactions.\u201d He stated.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p class=\"yiv5333548029xmsonormal\">In his comment, the Ogun State Commissioner of Housing, Jagunmolu Akande Omoniyi said the decision of the government to partner with Ecobank on the project was informed by the Bank\u2019s expertise in mortgage financing, stressing that the state government has implicit confidence on the Bank\u2019s ability to deliver on target.<\/p>\n<p class=\"yiv5333548029xmsonormal\">He pointed out that\u00a0the construction of low-cost mass houses in the state is targeted at providing decent, quality, and affordable housing to civil servants, adding that\u00a0many housing projects are currently being constructed by the Ministry of Housing and the Ogun State Property Investments Company (OPIC) as part of the state\u2019s blueprint on purposeful governance and robust development blueprint summarized in a mantra \u201cBuilding our Future together\u201d.<\/p>\n<p class=\"yiv5333548029xmsonormal\">\u00a0According to him, \u201cThis housing scheme is part of the present administration under His Excellency,\u00a0Dapo Abiodun plan\u00a0to build a total of 2,500 housing units in his first 4 years in office as contained in a mantra \u201cBuilding our Future together\u201d. The housing projects include 130 housing units in Prince Courts Estate at Kemta -Idi Aba Abeokuta as the first phase of the 300 detached and semi-detached two- and three-bedroom apartments. The second phase was the recently completed Kobape Housing estate located on Abeokuta \u2013 Sagamu road. This is made up of one, two- and three-bedroom houses numbering over 200. The Governor also reiterated commitment to open up new phases as the new train would soon berth at Sagamu in Ogun East with 200 housing, Ota, Ogun West with 100 units in the third phase of the houses promised to be delivered before the end of the first term of the government.\u201d\u00a0He stated.<\/p>\n<p class=\"yiv5333548029xmsonormal\">He added that\u00a0the Governor is poised and committed to provide affordable houses for all in the state to make the state more attractive and cater for the influx of people into the state due to rapid development.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Ecobank Nigeria has entered into partnership agreement with Ogun State government to provide mortgage financing to interested civil servants who are allotees of the state\u2019s housing scheme.<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":32300,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[2868],"coauthors":[2391],"class_list":["post-56582","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-ecobank-nigeria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - 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