The Mortgage sector of the Nigeria economy would soon be sanitized following the passage of a Bill for an Act to Establish the Institute of Mortgage Brokers and Lenders of Nigeria by the House of Representatives.
The Mortgage sector of the Nigeria economy would soon be sanitized following the passage of a Bill for an Act to Establish the Institute of Mortgage Brokers and Lenders of Nigeria by the House of Representatives.
The Bill which was passed the former House did not experience much difficulty in its passage as most members of the present House were abreast with its contents and advantages for the institution, thus easily scaled through passage.
The Bill is aimed at regulating Mortgage and Lending activities as well as ensure professionalism within the Nigerian system.
The Bill which was sponsored by Hon. Dachung Musa Bagos, has now been moved from the House of Representatives to the Senate for concurrence and final passage.
Speaking during the debate shortly before its passage, Hon. Bagos said that the Bill sought to ensure that individuals seeking to be mortgage broker professionals should acquire the basic skills and learn standards necessary to function in the industry with a view to ensure high quality and timely discharge of duties.
He urged his colleagues to support the passage of the Bill which he noted was passed before by the House but was not attended to by the Senate before the 8th National Assembly elapsed
Bagos expressed the hope that when the Bill becomes an Act of the National Assembly, Nigerians will derive maximum benefit from the deficit presently being experienced in the housing sector.
Also speaking after the passage of the Bill by the House of Representatives, one of the initiators of the Bill, a Mortgage Broker, Dr Jasper Olusayero Adeleye said that the members of the National Assembly deserve commendation following their foresight to bring about sanity in the institution of Mortgage Brokers and Lenders of Nigeria.
Adeleye further said that when eventually passed by the Senate and assented by Mr President, the institution would be charged with the responsibility of advancing the study, training as well asdetermine the standard knowledge of the skills expected to be attained by individual(s) seeking to become registered as members of the Institute and other related matters.
