…Partners Enugu govt on mortgage devt
From Chidi Nnadi, Enugu
The AG Mortgage Bank has said that its investment portfolio rose to over N2.1 billion as it expressed readiness to partner the Enugu State government to create mortgages.
The Executive Director of the mortgage institution, Ngozi Anyaogu, disclosed this at the weekend as Governor Ifeanyi Ugwuanyi presented keys of 100 housing units to 100 low income civil servants in the state who won the houses through an open ballot exercise.
Anyaogu, while congratulating the beneficiaries of the houses, said the bank has been in mortgage financing in the last nine years of its operation in Enugu State.
According to her, the 100 housing units are coming with insurance cover in event of death or accident involving permanent disability and loss of job of the occupants.
Presenting the keys to the beneficiaries, Ugwuanyi said the gesture was initiated four months into his administration last year.
He disclosed that while the government wrote off 30 to 54 per cent of the total cost of the houses, the AG Mortgage Bank provided the balance by way of mortgage facility arranged through the Federal Mortgage Bank of Nigeria.
The one-bedroom apartments are valued at N4.7 million each with some of the beneficiaries who are mainly civil servants between Grade Levels 1-10 having a five-year tenor to complete payment while others have up to 30 years.
Other personalities at the event included the Chairman of COPEN Group, Rev. Ugochukwu Chime, who developed the estate; the state Head of Service, Mr. Chidi Ezema; Commissioner for Housing, Charles Ogbo Asogwa and a representative of the beneficiaries, Mr. Peter Odo, a driver.