a top mortgage executive in the country, who described it as a positive development that would address the challenge of housing deficit in the state of Lagos and the whole of Nigeria, while improving the fortunes of those operating in the industry.
Speaking during the rebranding ceremony of the Abbey Mortgage Bank, the Managing Director of the company, Madu Hamman, said: “The Lagos State Government review process to amend the state’s mortgage and property law by incorporating foreclosure procedures is a very positive development for our sector and we enjoin other state governments in the country to emulate Lagos State.”
“This is one of the innovations that is designed to improve the fortunes of the mortgage industry and we will continue to engage with various authorities for continual improvement of the operating environment,” he added.
In the case of the rebranding of Abbey Bank, Hamman noted that the new logo signals a shift in a new direction as the bank returns to the path of profitability. Declaring the event as a “really an exciting time at Abbey”, he added that the recent rebranding would reposition the company in its place as a clear leader in the industry.
Abbey Bank’s chairman Emma Kanu O. Ivi, who also participated in the occasion said it was an “unveiling of our bigger dreams”. “We went through times of trials and overcome. Our vision is to become the biggest mortgage institutions out of Africa. But we demand adequate laws that will ensure easy operation for institutions and organisations in mortgage banking,” he added.
