Mrs Chinelo Anohu-amazu and Client Leadership Group with International Financial Corporation, Sub-Sahara Africa, Solomon Adegbie-Quaynor
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Chuks Udo Okonta
The National Pension Commission (PenCom) today said it is working assiduously to ensure that houses to be acquired through the proposed mortgage finance, meet required standards.
Its Director-General PenCom, Mrs. Chinelo Anohu-Amazu, who disclosed this at the just concluded 2016 World Pension Summit Africa Special in Abuja, added that the commission is looking at modalities that would ensure pension funds are secured whilst providing comfortable houses for contributors.
“What we are looking out now is modalities to make sure that pension funds are protected. We do not want a situation where there will be an interplay between the developers; mortgage companies and RSA holders, complaining of houses that are poorly built.
“We are working on guidelines to would make this happen. This is because, we want to improve the lifestyle of contributors for we believe that when people have roof over their heads, that would reduces the need to engage in unwholesome practices,” she said.
She added that various ministries such as finance, works and housing are doing a lot on the issue of mortgage, adding that state governments are very concern about the development.
From left: Usman Suleiman (MD, FUG Pensions), Helen Titi Lawani (MD, Progress Trust CPFA), Mohammed Ahmad (PenOp Trustee), Eguarekhide Longe (PenOp President & MD, AIICO Pensions), Susan Oranye – Executive Secretary, PenOp at the 2016 World Pension Summit ‘Africa Special.
President, Pension Fund Operators Association of Nigeria (PenOp), Longe Eguarekhide, said operators are ready to invest in mortgage. But added that the process should be clear and align with stipulated laws.
According to him anything that has to do with impact investing cannot be discussed without government input, adding that government has to be involved with the issue of investing in mortgage.
