Business
Primary Mortgage Institutions Take New Name 2013
The President, Mortgage Banking Association of Nigeria, Mr Abimbola Olayinka, on Tuesday said that primary mortgage institutions would turn to primary mortgage banks by April, 2013.
Olayinka, who disclosed this in Lagos, said that the name change would be in line with the reform agenda in the sector.
He said that part of the reform agenda required that all institutions in the sector should recapitalise by April 30.
“It is worthy to note that after consolidation, our name will change positively from the current primary mortgage institutions to primary mortgage banks.
“This name change is in line with the Central Bank of Nigeria’s reform programme for our sector,” he said.
According to him, the association will encourage members to establish consumer education desk for the purpose of organising consumer credit literacy programmes.
Olayinka said that the desk would also help the association and the CBN in promoting the reform agenda.
He said that after the consolidation, the association’s activities would focus on ways to lower interest rates on mortgage loans to make them attractive.
The president said the emphasis would be in terms of guaranteeing long term loans, especially for private sector operators.
He said that the association would also pursue the introduction of mortgage default insurance scheme for the sector.
According to Olayinka, the public is on the verge of witnessing a new dawn in the mortgage sector after the recapitalisation exercise.
Reports say that under the recapitalisation programme, regional institutions are to recapitalise from N100 million to N2.5 billion, while those operating at the national level are to recapitalise to N5 billion.
Business
FEC Approves Concession Of Port Harcourt lnt’l Airport
Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
Business
PHCCIMA Leadership Hails Rivers Commerce Commissioner for Boosting Business Ties …..Urges Deeper Collaboration to Ignite Economic Growth
-
Oil & Energy2 days agoOndo, Investors Sign $50b Refinery, Free Trade Zone Agreement
-
News2 days ago‘Tinubu Committed To Environmental Sustainability, Benefits To Ogoni’
-
News2 days agoTinubu CongratulatesSoludoOn Re-election, Lauds INEC
-
Maritime2 days agoAfrican Nations Stand To Gain From Blue Economy —NPA MD
-
Niger Delta2 days agoDelta To Present Over ?1trn Budget For 2026
-
Politics2 days agoAnambra Guber: I’m Not Impressed, LP Candidate Says …As Observers Lament Vote-buying, Low Voters Turnout
-
Oil & Energy2 days agoOil Demand to Rise Through 2032 as Energy Transition Stalls
-
News2 days agoCleric Harps On Significance Of Thanksgiving
