Ecobank Nigeria has entered into a partnership agreement with the Ogun State government to provide mortgage financing to interested civil servants who are allottees of the state’s housing scheme.
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.