LAGOS – Mr Bode Afolayan, the President, Real Estate Developers Association of Nigeria (REDAN), on Tuesday urged the Central Bank of Nigeria (CBN) to release the names of recapitalised Primary Mortgage Institutions (PMIs).
Afolayan made the appeal in an interview with the News Agency of Nigeria (NAN) in Lagos.
According to him, withholding the list since the period for the recapitalisation ended on April 30, is crippling REDAN members businesses.
He wondered how the CBN wanted the developers to do business without knowing the mortgage banks that scaled the recapitalisation process.
“The Central Bank as a matter of urgency needs to publish and educate the public concerning the status of mortgage banks in Nigeria.
According to him, the Association is aware that only few of the mortgage banks crossed over to National level, while others remain at Regional levels by April 30.
He said that the association was also aware that few of the mortgage banks were given concession up to June 30.