PIQUED by the misconceptions about the strength and stability of the Nigerian mortgage sector, the operatives have launched an initiative, which will act as a platform to build bridges between the stakeholders and create an awareness of the various affordable mortgage products.The new initiative, the first of its kind for the sector, courtesy Mortgage Banking Association of Nigeria (MBAN) is tagged Housing Finance and Investment Conference and Exhibition (HOFEX). The exhibition beginning next week Thursday, is targeted at housing financiers, estate developers and prospective homeowners, meant to highlight opportunities in the mortgage sector and create an awareness of the various affordable mortgage products available to individuals of all classes.MBAN President, Mr. Abimbola Olayinka said that the Nigerian mortgage sector has grown from the narrow product-base and capabilities it had in the past to a level that it is proud to present to the Nigerian and international communities today.He said: 'The sector has witnessed significant milestone achievements through the influence of government policies and key stakeholders. These policy changes have led to significant growth in the mortgage sector and aroused the interests of several international investors. These milestones coupled with the need to educate the public about the sector and its products and services led association to create the conference and exhibition for the Mortgage Banking/Housing Finance sector with the support of the Federal Mortgage Bank of Nigeria (FMBN) and the Central Bank of Nigeria (CBN).'According to the MBAN Executive Secretary, Mr. Kayode Omotoso, MBAN-HOFEX offers a holistic business experience by combining exhibition, conferences and seminars that will update the audience on the state of the Mortgage Industry in Nigeria and connect key companies in the Mortgage Sector to International investors and industry players.'The immense participation of exhibitors and attendees would facilitate the exposure of the Nigerian housing finance sector and its stakeholders to their target markets and investors. Participants would also be privy to first-hand information on the changes in the Sector and the best opportunities available for securing home-ownership financing,' he said.This exhibition is designed to showcase the housing finance sector and spotlight on mortgage products and services as well as home ownership opportunities available to low ' high income earners in the country while the conference will feature local and international speakers delivering papers on various faculties that would include the National Housing Fund (NHF) Scheme; Expanding the Frontier of Mortgage Banking in Nigeria; Review of the Housing Finance Sector in Nigeria within the global context; Financial Strategies to boost Long-term Funding for the Sector; Technology alternatives to aide reduction in Housing Costs; and other topics relevant to the provision of Sustainable and Affordable Housing in Nigeria.Speakers include Minister for Finance, Mrs. Ngozi Okonjo ' Iweala, Minister of Lands, Housing and Urban Development, Ms. Ama Pepple, Governor, Central Bank of Nigeria, Alhaji Sanusi Lamido Sanusi, Managing Director, Federal Mortgage Bank of Nigeria (FMBN), Mr. Gimba Yau Kumo and MBAN Deputy President, Mr. Olufemi Johnson and Mr. Allasane Ba of Kenyan based Shelter Afrique.
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