Skyfield Savings and LoansLimited, one of the nations leading mortgage bankers, has received nod from Federal Mortgage Bank of Nigeria to access the National Housing Fund (NHF), giving impetus to its determined push to become a dominant player in the countrys primary mortgage industry.Late last year, the firm had engaged a team of seasoned professionals led by a well-honed banker, Mojeed Kolawole Abdul, to turn around the fortunes of the bank which had plummeted in the last eight years as well as drive its new strategic intent of becoming a frontline operator in the real estate and mortgage banking sector.The new team supported by a board of highly experienced professionals have in the last six months restructured and reengineered the organisation, introducing new operational system and procedures that have not only returned the bank to the path of profitability but also embolden management to expand its operations.Industry watchers said the new window provided by NHF and the recent upgrading of the banks information technology backbone to the widely acclaimed banking software-Wisebank, have positioned the company in good stead to provide improved mortgage facilities to its increasing customer base, as well as expand its operations in the real estate business across the country.To consolidate its position in the real estate industry, the bank has reorganised and expanded the scope of its subsidiary, Skyfield Properties Limited, to take advantage of the tremendous opportunities in the nations housing sector. The company signaled its commitment to redefine housing and real estate management in the country with its 165 room all-en-suite edifice in the commercial nerve centre of Yaba, LagosThe huge success of the project, Mr. Abdul said, has encouraged the Bank to develop more high profile and cutting-edge residential and commercial real estate projects in the Lekki and Ajah axis of Lagos.Mr. Abdul said that the current management is poised to making Skyfield a PMI of reckoning in the real estate and mortgage banking sector. Speaking to an elated staff in a management retreat organised recently to bring staff up to speed on developments in the industry, he said all the measures taken so far by the management were aimed at bolstering the companys competitive edge, and making it the most preferred and best managed mortgage bank in Nigeria, but also enhancing the return of investment to stakeholders.We want to be a customer focused and service driven mortgage bank, providing first class mortgage banking services using latest information technology with a view of meeting our esteemed customers housing needs while also enhancing values of all stakeholders, Abdul said.Skyfield Savings and Loans Limited which is owned by a group of Nigerian investors, was incorporated in 2002 to carry on mortgage business by the Central Bank of Nigeria. It started operations with an authorised share capital of N200 million, which was later increased to N1billion and was fully paid as at March 2007.It offers a full bouquet of services including all aspects of home ownership finance such as NHF, individual dwelling house mortgages; group mortgages- staff mortgage administration schemes, as well as regular banking products, real estate promotion /management and mortgage/real estate advisory services.
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