Beneficiaries of a redemption opportunity offered by the Lagos State Mortgage Board, with the approval of the Lagos State Government, have hailed President Bola Tinubu, Governor Babajide Sanwo-Olu of Lagos State, and a former Governor of the State, Mr. Raji Fashola, for various roles they played in making their dreams of owning homes come to pass.
The beneficiaries gave the commendations at a ceremony held in Ikeja, Lagos organised by the mortgage board to hand certificates of redemption to the beneficiaries.
The General Manager of the Lagos State Mortgage Board, Mr. Bayowa Foresythe, in his speech, said the event was organised by the board for the mortgagors and for the rent-to-own allottees of the Lagos Home Ownership Mortgage Scheme to mark the completion of their mortgage tenure, describing Lagos State Homs Ownership Mortgage Scheme (Lagos HOMS) as a welfarist initiative and a laudable policy of Lagos State Government, designed to give succour to the low and middle income earners and assist in bringing their dreams of owning homes to reality.
He said the dreams would have been fulfilled if not for the crucial roles played by the present and former leaders of the state.
He started by commending Governor Babajide Sanwo-Olu of Lagos State and his Deputy, Dr Hamzat, for sustaining and advancing the mortgage scheme started by their predecessors.
“First of all, I would like to extend my heartfelt gratitude to Mr Governor for his continued support for Lagos State Mortgage Board in charge of Lagos HOMS. I would also like to appreciate our Deputy Governor for being there always; he has always been a great support to the Lagos State Mortgage Board since inception.”
He also said the former Governor, Raji Fashola, played a foundational role by introducing the scheme during his tenure as a governor, based on the master plan drawn by his predecessor, the then the Governor Bola Tinubu.
On the contribution of President Tinubu to the scheme, he said: “Please permit me to appreciate the President of Nigeria, Bola Ahmed Tinubu, who came up with the Lagos master plan during his administration as the Executive Governor of Lagos State between 1999 and 2007. His initiative of housing for all gave birth to what we are all enjoying today. He took the housing deficit seriously and went all out to ensure that dreams were made a reality.”
Foresythe also gave credit to partners of the board, including the Lagos Building Investment Company (LBIC).
LBIC, according him, has been working with the board since 2014. Similarly, he acknowledged LASACO Insurance Plc, First Bank Plc and First City Monument Bank, for their contributions.
While congratulating the beneficiaries, he recalled that the mortgagors and rent-to-own allottees embraced the scheme in 2015/2016.
“Today, certificates will be issued to all our beneficiaries exiting the schemes, having certified that they have fulfilled the terms of the contract,” he said.
Earlier in his welcome address, the Lagos Homes, Media Director, Mr. Oluwole Orelaja, described the beneficiaries and recipients of exit certificates as lucky, saying the governor gave the approval last year for them to pay off their outstanding and to get their exit certificates, if they could.
He said the project was welfarist in nature. He, however, urged those still in the scheme to always meet their responsibilities in terms of stipulated payments, pointing out that over 20,000 citizens are on the list, and that repayment by beneficiaries would ensure that more citizens benefit from the scheme.
“You have neighbours, friends and relations. We want you to inform them of your experience, so that they too can follow suit,” he told the beneficiaries.
Some of the beneficiaries reacted to the completion of their payment and exit from the scheme.
One of them, Odunola Abosede Otujo, who has her apartment of three bedroom in the Ojokoro Housing Estate in the Ijaye area of Lagos State, started by throwing more light on the scheme. She said: “Actually, it is supposed to be a programme for 10 years; but fortunately, the governor of Lagos State gave us the opportunity to pay off if we had the funds. So, I’m one of those who is able to pay off the balance. I feel so happy. I feel so blessed to be a home owner today.”
She described the programme as wonderful and encouraged Lagos residents to key into it.
Another beneficiary, Lynda Abah, from Kogi State, stated: “I’m very grateful to God. I’m elated and I thank the Lagos State Government for this unique opportunity.
“I want to say they have been very professional from the beginning till now. I was given a fair opportunity to subscribe and I got the allocation.
“They were very transparent and I’m impressed the way they have handled everything.”
She particularly expressed delight that the state did not increase the amount beneficiaries had to pay despite inflation and the falling value of the naira.
