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From Magnus Eze, Enugu
Chairman of FIT Group of Companies, Chief Loretta Aniagolu, has said that the conglomerate’s FIT Microfinance Bank will prioritise mortgage financing.
Aniagolu also said that the bank is not only a game-changer in the financial landscape and real estate industry, but will deepen financial inclusion in the South East.
Speaking at the official launch and grand opening of the bank in HELIU Residences, Enugu, she said that the financial institution was floated to empower individuals and small businesses with accessible and innovative financial services to enable them get their own homes.
According to her, the bank is backed by the company’s real estate firm to provide credits for Nigerians to build their dream homes at discounted rates.
“Now, the only way you can build many houses is when you provide income and circulate credits. Nigerians are expected to be honest in their jobs and not be corrupt, but there’s no opportunity for them to get credit to buy homes and other things they need. In every society credit is so important in everything we do. So, we looked at and asked ourselves, ‘what do we now do?’
“So, venturing into banking means we can now provide some credit. And with this credit, growing this bank, ultimately our goal is that this bank begins at some point to give loans to people so that we can build the kind of homes that we have built at discounted rates and a lot of Nigerians will be able to build their own homes. When you own a home, your dignity is restored as a human being and there are lots of things that come with it. You can do businesses, you can mortgage your home, you can use it to pay school fees, all sorts of things. But when you don’t have it, you haven’t even started,” Aniagolu said.
Managing Director of the bank, Andrew Okpeh, said the bank took off with a capital base of N250 million and expressed the optimism that it would become the leading microfinance bank in the region.
He disclosed that the bank will leverage innovative technology, digital space, which according to him is where they intend to operate.
Okpeh further said that the bank would organise cooperative groups in various communities, teach them how to grow their wealth as well as support their businesses to grow.
