By Maduka Nweke
The national leadership of the Estate Rent and Commission Agents Association of Nigeria (ERCAAN) has entered into a strategic partnership with The Alternative Bank, a leading non-interest financial institution, to provide innovative housing solutions that cater to both rental support and homeownership for ERCAAN members and the wider public.
The agreement was formalised on Wednesday at the corporate headquarters of The Alternative Bank in Marina, Lagos. Present at the signing ceremony were representatives of the bank, including Mr. Habeeb Lawal (Personal & Cluster Banking) and Mr. Oladipupo Onaseso (Product Manager).
ERCAAN was represented by its National President, Mr. Godwin Alenkhe, alongside Mr. Segun Ibirogba (General Secretary), Mr. Vincent Okonko (Treasurer), Mr. Adeshina Idowu (Assistant Secretary, Lagos), Mr. Kehinde Ayorinde (Vice Chairman, Ogun State), and Mr. Ayodele Onafujabi (Electoral Officer).
In his remarks, ERCAAN President Mr. Alenkhe expressed appreciation to the bank for its commitment to addressing the challenges of rent payment and housing access in Nigeria through the introduction of rental loan products.
“We thank The Alternative Bank for committing resources to solving the rental payment demands of Nigerians by introducing rental loans for prospective home-seekers and sitting tenants. With this agreement, ERCAAN members and their clients can access loans to finance their annual rent while making convenient monthly repayments,” he said.
Speaking on behalf of the bank, Mr. Habeeb Lawal commended ERCAAN’s structure and professionalism, describing it as one of the most organized real estate regulatory associations in the country. He expressed optimism that the partnership would significantly ease the burdens associated with both homeownership and rental financing in Nigeria.
“We see ERCAAN as one of the most organized real estate regulatory associations in Nigeria, and we believe this partnership will go a long way in alleviating the challenges Nigerians face in owning homes and meeting rental obligations,” Lawal stated.
The collaboration is expected to open new pathways for affordable housing access through ethical financing, offering relief to thousands of Nigerians grappling with housing instability.