PenCom DG, Aisha Dahir- Umar

By Ngozi Onyeakusi— Following release of guidelines for Retirement Savings Account (RSA) holders to access their RSA balance for mortgage payment, the National Pension Commission, (PenCom) has as well released a list of 34 approved primary mortgage banks to participate in  the use of the RSAs for residential mortgage.

According to the Director-General, PenCom, Mrs Aishat Dahir-Umar out of the 34 banks, 19 are from Lagos, 7 from Abuja and the remaining  8 are from other states.

The mortgage lenders from Lagos are Abbey Mortgage Bank Plc; Brent Mortgage Bank LTD; AG Mortgage Bank Plc; Centage Savings & Loans; City Code Savings & Loans; First Trust Mortgage Bank; Global Trust Mortgage; Haggai Mortgage; Homes-Base Mortgage; Imperial Homes; Jubilee-Life Mortgage Bank; Lagos Building & Investment; Prudential Mortgage Bank and Refuge Homes Savings & Loans.

Others from Lagos include Resort Savings & Loans; Safetrust Mortgage Bank; STB Building Society; Union Homes, Mayfresh Mortgage Bank and Resort Savings & Loans

Those from Abuja are Aso Savings & Loans; FHA Homes Ltd; First Generation Homes; Infinity Trust Mortgage Bank; MDSL Mortgage Bank LTD; Nigeria Police Mortgage Bank and Platinum Mortgage Bank

The remaining are from other states: Akwa Savings & Loans Ltd and Mutual Alliance both from Akwa Ibom; Coop Savings & Loans from Oyo State; Delta Trust Mortgage Bank; Gateway Mortgage Bank, Ogun State; Jigawa Savings & Loans, Jigawa state; Kebbi Stare Homes, Kebbi State and Living trust formally Omoluabi, Osun State

The mortgage firms are divided into two: national with minimum capital requirement of N5bn and state with N2.5bn minimum capital. In all, there are 13 categorised under national while the remaining 21 under state .