Business
Invest Pension Fund Into Mortgage – Valuer
As a way to make the pension funds more beneficial to the contributors, an estate surveyor and valuer, Ogunsemowo Dele has reiterated the need for Federal Government and those managing the funds to plunge reasonable percentage of the fund into mortgage financing, instead of using it to trade in the capital market.
This he said would enable public servants and other workers who contribute to the fund to own their own houses even before they retire.
Speaking in an interview with The Tide in Port Harcourt, Mr Ogunsemowo who is the chief executive office of Ogunsemowo Dele and Associates, an estate surveyor and valuers firm, said that one problem with Nigerians is that people do not trust each other.
According to him, the long gestation period with which it takes to recoup money invested on housing and property have made it difficult to provide funds for mortgage and development, pointing out that this has probably been the reason why pension fund managers use the funds to trade in the capital market for quicker returns.
Dele who holds a Masters Degree in Estate Management and also a member of the Nigerian Institute of Estate Surveyors and Valuers (NIESV) posited that lack of proper regulation in the country have given room to some of the problems that are related to investment and funding, adding that people are always afraid to put in their hard earned money to such ventures, for the fear of how to recover it.
He explained that the reason why mortgage is not working properly in Nigeria is because most financial institutions have lost so much money through loans that cannot be recovered.
The valuer said that other developed countries maintain a database which identifies them anywhere, pointing out that it is difficult for any of their citizens to defraud the banks.
He said if a good database is maintained in Nigeria, it will be difficult to defraud any bank through borrowing, which will therefore create good atmosphere for operating mortgage financing for development.
Corlins Walter
Business
NCDMB, Dangote Refinery Unveil JTC On Deepening Local Content
Business
Food Security: NDDC Pays Counterpart Fund For LIFE-ND Project
Business
Replace Nipa Palms With Mangroove In Ogoni, Group Urges FG, HYPREP
-
Politics5 days ago
Civic Duty, Not Politics Necessitated My Engagement With Abacha – Obi
-
Niger Delta5 days ago
Cancer Risk: HYPREP, IARC Launch Human Biometric Study in Ogoniland
-
Women5 days ago
What To Know About Fufu, Loi Loi
-
Sports5 days ago
Former Champion Seeks Title Defence At Para Table Tennis Tourney
-
Rivers5 days ago
Don Sues For Leadership Assessment Centre In IAUE
-
Niger Delta5 days ago
Commissioner Explains Oborevwori’s Retirement Age Extentoon For Associate Profs
-
Business5 days ago
Cassava Flour Initiative Revival Can Up Economy By ?255b – COMAFAS
-
Sports5 days ago
Eagles B Players Admit Pressure For CHAN Qualification