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Pedro Seeks Review of Mortgage Bank Act By Shaka Momodu and Akpan Unyime Lagos State Deputy Governor, Mr Femi Pedro, has canvassed for a review of the Federal Mortage Bank Act, to position the bank as an agent for providing mortgage facilities and eliminating the current procurement of houses on a cash and carry basis. Pedro said this when he received members of the Senate Committee on Housing and Urban Development yesterday, adding that the present FMBN and FHA Acts run counter to present day realities of providing mortgage facilities to contributors to the National Housing Fund. He said no honest civil servant can afford to purchase houses for as much as N2 million, at which they are being offered for sale. According to him, it is the dream of every worker that at the end of his career in the public service, he should have a roof over his head as his personal home, but this becomes a mirage, due to un-affordability. He decried attempt by the Federal Government to dislodge occupants of the 1004 flats and other government buildings without making adequate arrangement for their resettlement, warning that the displacement may over-stretch facilities in the Lagos metropolis. Pedro said the state government was completely sidelined in the process of bidding for Federal Government property despite the fact that the property were located on government owned lands, which were freely given when Lagos served as the Federal Capital Territory. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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