Director, Human Resources & Administration, Lagos State Mortgage Board (LSMB), Mrs Kadijat Osunkayode (left); General Manager, LSMB, Mr Bayowa Foresythe; Executive Director, Finance, Lagos Building Investment Corporation (LBIC), Mr Afolabi Omilabu; Representative of LASACO Insurance, Mr Ladi Wright, at the ceremony, organised for mortgagors by LSMB in Ikeja.
The second batch of beneficiaries of the Lagos Homs Mortgage Scheme have completed payment and received their certificates, making them full owners of their apartments.
The certificates were issued to the beneficiaries last week by the General Manager of the Lagos State Mortgage Board, Mr Bayowa Foresythe, at a colourful event, tagged Exit Ceremony, organised for mortgagors in Ikeja.
In his address, Foresythe congratulated the beneficiaries and commended Governor Babajide Sanwo-Olu; and his Deputy, Obafemi Hamzat, for ensuring the sustenance of the scheme.
He also identified and recognised the Lagos Building Investment Company (LBIC), led by its Managing Director, Mr Tunde Davies, as a key partner in the success story, recalling that the beneficiaries joined the scheme ten years ago when congratulatory certificates were issued to them for qualifying, marking the commencement of the mortgage term.
Addressing the beneficiaries, he said: “Today, Exit Certificates will be issued to certify that you have fulfilled the terms of the contract. We celebrate this remarkable achievement of our valued homeowners, as you have all reached a pivotal moment in your journey, having completed your mortgage obligations.
“The mission of the government is to reduce the housing deficit in Lagos State by providing affordable homes for residents, and the board is saddled with the responsibility of allocation of Lagos HOMS. So far, over one million residents of Lagos State have benefited from our mortgage and Rent-to-own schemes.
“No discrimination, no bias, the homes were allocated based on meeting the criteria. Undoubtedly, this policy was borne out of great insight, far-sightedness and a deep sense of the responsibility of governance, being one of the pillars of the present administration agenda.
“Lagos HOMS schemes are located in the five regions of Lagos State, known as IBILE that is Ikeja, Badagry, Ikorodu, Lagos Island, and Epe.” A beneficiary, a journalist and a lawyer, Mrs Shola Soyele, expressed excitement on the completion of the ten-year mortgage, saying, “It seems like a dream. When we started in 2015, I remember that I was pregnant.
“I got this call, you’ve been successful, it seems like lots of good news piling up, I was about to have a baby, and about to become a homeowner. Today, it has become a dream come through because we are getting our certificates.” She recalled that a monthly payment was tasking, but she persevered, thanking staff members of the board for being amazing in encouraging them.
“I’m happy that the succeeding governors too kept faith with the scheme. You know a new administration could have come in and stopped the scheme. So, we are grateful that the governor also kept faith with us.” She has her home in the Ikeja area of Lagos.
Another beneficiary, a farmer, Mr Femi Odu, told newsmen, he benefitted from the Ilupeju scheme. “I will thank former Governor of Lagos State, Mr Raji Fashola, for making it possible, because without him, we will not become landlords in Lagos,” he said.
He also appreciated the single-digit interest rate of the scheme, saying: “The digit remained single throughout the ten years because it was fixed and locked from day one. Even as the naira was depreciating, the board kept to its one-digit agreement.”
In this article