By
Babangida Galleon
Adamawa State government has revived and renamed former Adamawa Homes and Savings to Adamawa Mortgage Bank in order to strengthen the bank’s operations in the state.
In his remarks after inspecting the building complex of the bank, Adamawa State Governor, Ahmadu Umaru Fintiri stated that the state government has taken the step to revive the bank so as to continue to render services and meet the need of the people.
Governor Fintiri said the bank was closed as a result of its inability to meet up with mortgage banks’ capital base of the Central Bank, hence the need for the state government to step in and give adequate reasons for that which the Central Bank agreed and open up a special window in order to meet up with the obligations and continue to operate and provide service to the people of the state.
The governor who explained that now that all has been concluded and the bank has been handed over to the management, he will support the bank and ensure that services are fully returned for the interest of the people.
According to the governor, the management of the Bank has assured that in the next forty five days , the bank will resume full operations, assuring all customers that nobody losses anything , it was just an administrative challenge the mortgage bank has gone through with the apex Bank.
While speaking, the General manager of the bank, Dr. Norris Stanley Giscard noted that reviving the bank is in line with the vision of the Fintiri led administration.
According to the General manager, the capital base of the bank stands at two point fifty four billion naira meeting the requirement of the Central Bank of Nigeria, with total asset base of four point six billion Naira.
Giscard further explained that the Adamawa mortgage bank is the same with Adamawa homes and savings as they both operates within the purview of mortgage banks, but with additional services like the e-platform, ATM machine and customers will also benefit from term loans, overdrafts as well as intermediating on behalf of customers in respect of their National Housing Fund contributions.
