The National Pension Commission has released a list of 34 mortgage lenders to begin the mortgage scheme’s implementation.
This was revealed at a seminar in Lagos by the Pension Funds Operators Association of Nigeria, titled ‘Pension: An Opportunity to Own Your Own Home, an X-Ray of the New RSA Plan on Home Ownership.’
The guidelines permit RSA holders to use a portion of their retirement savings as equity contributions to secure residential mortgages. According to the list, 34 of the lenders are in Lagos, eight are in Abuja, and the rest are scattered across the country.
Kangiwa stated that the initiative’s goal was to provide housing for first-time home buyers; and to raise the standard of living in RSA.