Brent Mortgage teaches Ogun University staff

IN fulfillment of its objective of providing affordable accommodation in Nigeria, Brent Mortgage Bank has handed over 12 units of two-bedroom terraced apartments to the management of Olabisi Onabanjo University (OOU), Ago Iwoye, Ogun State.

The bank said the idea was primarily conceived to address the accommodation problem faced by university staff, which affects their output.

Speaking at the handover ceremony, the Managing Director of the Bank, Mr. Kola Abdul recalled that the construction of the facility at OOU followed the recent repositioning of the bank to usher in a fresh start and greater opportunities.

Abdul said they decided to partner with the university management to realize their dream of providing affordable accommodation to their campus staff.

He expressed hope that the relationship between the OOU management, the university community and the bank will last.

The Brent boss, while revealing that the OOU staff quarter was the first to be secured by the bank in any tertiary institution in the country, said the development of the flats would be done in phases.

He lamented that many Nigerians cannot build houses because of limited funds. He, however, advised that people who are employed take out mortgages to buy property.

Explaining the rationale behind the partnership with OOU, Abdul said: “The idea is to further market Brent Mortgage bank products and tell people that we are doing things differently, also following the Central Bank of Nigeria (CBN) directive in setting the principles mortgage criteria for the university.”

The Vice-Chancellor of OOU, Professor Saburi Adesanya said the university community was happy with the development. “The university has a long way to go. So we urge the Bank to speed up the construction of the second phase,” he said.

The VC, who was represented by the Assistant Vice-Chancellor, Professor Adewale Sule-Odu, urged the bank to do more for the institution, assuring that the institution would support it by providing the enabling environment and technical support to build more apartments.