Thursday, 24 September 2015

BRENT MORTGAGE BANK PROMISES TO REMAIN COMMITTED TO THE GUIDELINES OF CBN

The Managing Director and Chief Executive Officer of Brent Mortgage Bank Limited, Mr. Kola Abdul, has promised that his bank would remain committed to the guidelines of the Central Bank of Nigeria (CBN) and Nigeria Mortgage Refinance Company as it seeks to deliver greater service in the mortgage sub-sector.

The mortgage bank boss said that the company would continue to be guided by the principles of sound bank management, governance and compliance to ethics and rules.

Tectono Business Review gathered the above assertion by Mr. Abdul spoke when he spoke at the Olabisi Onabanjo University, Ago Iwoye, Ogun State, where his mortgage bank handed over 12 units of two-bedroom terrace apartments to the management of the institution.

He made it clear that the contract for the construction of the apartments was executed in line with the laid down principles of mortgage creation for the university, adding that the organisation still had other phases to complete thereafter.

In his own words: “The idea was conceived and delivered primarily out of the need to provide affordable housing for the various levels of staff in the university. In this direction, we have been creating mortgages in line with the standards set by the CBN and the Nigeria Mortgage Refinance Company. We also stated that we would remain focused on the three-pronged principles of sound bank management and governance, compliance and risk. We are extremely happy that the bank has not deviated from this chosen path.”

Mr. Abdul stated that the operations of Brent Mortgage Bank were guided by the CBN’s standards. While appreciating the university authorities for the platform, the Brent Mortgage Bank boss said the organisation was prepared to partner with governments and organisations to deliver quality and affordable houses to Nigerians.