Abbey Mortgage Bank: Rebrands, Welcomes Inclusion of Foreclosure Proceedings in Lagos Property Law

The general manager of the Abbey Mortgage Bank Plc, Sir. Madu Hamman, described the Lagos State Government’s ongoing amendment to its Mortgage and Property Law to include foreclosure procedures as a positive development that would improve the fortunes of industry operators and address the deficit challenge of housing in the state and the entire country.

Hamman said: “The Lagos State Government’s review process to amend the State Mortgage and Real Estate Law by incorporating foreclosure procedures is a very positive development for our industry and we urge other governments states across the country to imitate Lagos state.

“This is one of the innovations designed to improve the lot of the mortgage industry and we will continue to engage with various authorities for continuous improvement of the operating environment. “

He made the statements on Wednesday during the unveiling of the Abbey Bank new logo intended to signify the rebranding of the mortgage bank at 29 and its new direction, because “we have brought the bank back on the path to profitability and have significantly increased our customer base, the size of our balance sheet and our share of Marlet “.

Hamman said the abbey’s mission is to become the first choice for mortgage finance and housing investments and that this rebranding would reposition the bank so that it can take its leadership position as the undisputed leader of the sub-sector. sector.

“We have also introduced our online banking channels. We will deploy our Internet and USSB platforms that will allow our customers to transact seamlessly wherever they want. we are confident of delighting our customers, ”said Hamman, stating that“ it is truly an exciting time at Abbey ”.

Abbey Mortgage President Mr. Emma Kanu O. Ivi, said the good thing about this event is that “we are unveiling our biggest dreams. We have been through times of hardship and overcoming. Our vision is to become the greatest mortgage institutions outside of Africa. But we demand adequate laws that will ensure easy operation for mortgage banking institutions and organizations. “

The Special Advisor to the Governor of Lagos State for Works and Infrastructure, Ms. Aramid Adéoye, who was the guest of honor when the new logo was unveiled, called for the creation of a mortgage lending division in the court system across the country to speed up the foreclosure process for default. “Lagos State has already set the tone by creating a mortgage division of the High State Court,” she said.

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