AG Mortgage Bank Investment Portfolio Jumps to N2.1billion

The AG Mortgage Bank has said that its investment portfolio leaped to over N2.1 billion even as the firm expressed readiness to partner the Enugu State government to create mortgages.

The Executive Director of the Mortgage bank, Ngozi Anyaogu, made this known at the weekend as Governor Ifeanyi Ugwuanyi presented keys of 100 housing units to 100 low income civil servants in the state who won the houses through an open ballot exercise.

Anyaogu, while congratulating the beneficiaries of the houses, said the bank has been in mortgage financing in the last nine years of its operation in Enugu State.
She said the 100 housing units are coming with insurance cover in event of death or accident involving permanent disability and loss of job of the occupants.

Presenting the keys to the beneficiaries, Ugwuanyi said the gesture was initiated four months into his administration in 2015.

He disclosed that while the government wrote off 30 to 54 per cent of the total cost of the houses, the AG Mortgage Bank provided the balance by way of mortgage facility arranged through the Federal Mortgage Bank of Nigeria.