Housing deficits grew from 7m in 1991 to 28m in 2023-PenCom

PenCom DG

By allcitynews.ng

When the management of National Pension Commission {PenCom} decided to enlarge its coast by making retirement enjoyable for pensioners through inclusion of housing mortgage, it was a reconfirmation that retirement is just another phase of life which needs comfortability.

Sitted from left to right: Mr. Sola Adeseun, Head, South-West Zonal Office, PenCom, Mr. Oguche Agudah, CEO, PenOp, Lawan President, Mr. Abdulqadir Dahiru, Head, Corporate Communications Department, PenCom, Mr. Ikenna Chidi-Ebere, Head, Consumer Protection Department, PenCom, Olajumoke Akinwa, PenOp.

Noting that retirement is not the end of the road but the starting of a whole new kind of life ahead that is full of experiences that are waiting to happen, the Director General, PenCom, Aisha Dahir-Umar set up an arm that would create more conducive atmosphere for pensioners.

Describing Nigeria as a country with lowest home ownership rates which stands as 99 per cent of the country’s population when compared to global practice, DG however assured that with every worker that has three years to retirement or as married couples can apply for the housing mortgage, the gap would be filled.

Just as she announced that PenCom has approved 34 primary mortgage banks through which Retirement Savings Account (RSA) holders can access residential mortgage.

The DG made this known during 2023 workshop for journalists organised by PenCom in Lagos on 3rd August 2023.

The DG who was represented by the Head of Communications, Quadri Abdul Dabir, called on Federal Government to come out with more affordable housing programme that would make everyone house owner.

She blamed the down payment, price instability, high interest rates and corruption for the huge housing deficit in the country.

Out of the 34 mortgage banks, 19 are in Lagos, seven in Abuja, two in Akwa-Ibom, and the rest in other parts of the country.

The banks are Abbey Mortgage Bank PLC, AG Mortgage Bank PLC, Aso Savings and Loans PLC, Brent Mortgage Bank, Centage Savings and Loans, City Code Savings, Coop Savings and Loans, Delta Trust Mortgage Bank, First Trust Mortgage and FHA Homes Limited.
Others are First Generation Homes, Gateway Mortgage Bank, Global Trust Mortgage, Haggai Mortgage Bank, Imperial Homes, Infinity Trust and Jigawa Savings and Loans Ltd, among others.

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