A boom for civil servants and interested members of the public to own affordable houses in Akwa Ibom State is being floated by a leading mortgage bankers, the Akwa Savings and Loans Limited.
The scheme is coming under the bank’s Paradise Park Estate located at Mbiokporo Nsit community accessed through Ekom Iman/Etinan Road and Aka Etinan Road within the Uyo Capital City.
The sprawling Paradise Park Estate has over 200 plots of land and will be an easy means for civil servants and prospective individuals to own affordable houses.
The managing director of Akwa Savings and Loans Limited, Mr. Ebong Bassey told Crystal Express in an exclusive interview in his office on Monday that the bank will soon commence the development of 50 units through a developer.
Bassey said that as mortgage bankers, Akwa Savings is determined to contribute towards addressing the housing challenges of Akwa Ibom people and other interested individuals.
He explained that the state owned financial institution decided to embark on the project not only in line with its mandate but to offer affordable houses against the background of lingering housing deficit in the state and country.
The managing director commended the state governor, Mr. Udom Gabriel Emmanuel for his support to the bank, adding that he has made it possible for them to enjoy the goodwill of the state Surveyor General’s office and the Ministry of Lands and Housing over the earmarked housing estate.
According to the experienced banker, in order to achieve timely execution of the project, the company is engaging several developers on discussion, which after agreement, will commence in earnest the construction of the first phase of the proposed estate being 50 units of two bedroom apartment which he restated will remain affordable for all categories of civil servants in the State.
While calling on all categories of civil servants in the state to take advantage of the proposed housing estate, Mr. Bassey disclosed that payment modalities will be spread to cover years of service for interested civil servants and others.
He said the banks is working in concert with the Federal Mortgage Bank, maintaining that housing units will not in any way be luxurious houses but affordable ones at the cost of not more than N4.5 million each.
The payment procedure, according to the managing director, will be spread depending on how many years each civil servant is left with in service with their bank account domiciled with Akwa Savings and Loans limited for easy payment.
“We are building affordable houses for civil servants. Federal Mortgage Bank has instructed us to do affordable building and not luxury building, we will maintain that order to the letter. Each house will cost not more than N4.5 million, and payment will be spread depending on how many years each civil servant is left with in service.” Mr. Bassey explained.
He announced that the bank has commenced debt recovery process which he said has started yielding positive result, adding that part of the monies recovered will be used in funding the proposed housing estate projects to completion.
“Already, Akwa Savings and Loans limited with the support of CBN are collating BVN numbers of all debtors with the intention of tracking their bank accounts to enforce repayment of their debts, the exercise have yielded immense dividends.”
