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 facilities to interested and qualified beneficiaries that meet the
Bank’s credit risk acceptance criteria and other conditions.
According to the Memorandum of Understanding (MoU) between
both parties, the allottee 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.
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 allottees of the houses.
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