ALAKE SUPPORTS GATEWAY MORTGAGE BANK LIMITED

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The Egba Traditional Council would support the Gateway Mortgage Bank because of its professional and modern Banking system.

The Alake and Paramount Ruler of Egbaland, His Royal Majesty Oba AdedotunGbadebo CFR, said this today at the Ake Palace while welcoming the Management team of the State owned Mortgage Banking Institution led by its Managing Director/CE MrOlawaleOsisanya.

Oba AdedotunGbadebo disclosed that he was delighted to note that the only surviving Ogun State owned Bank had been performing maximally since its re-organisation and recapitalisation.

The Alake advised the new Management to ensure that all the rebranding promises were kept to the letter as such would make the Bank be among the best available in the country or even in the continent of Africa.

Oba Gbadebo advised the Management of the Bank to widely inform and enlighten people about their products and services as this would be mutually beneficial to the people of Ogun State and Nigeria in general.

The Alake finally assured the Bank that Ogun State indigenes would key into the vision of the Bankan also patronise it to the extent that it would become a national and international institution.

Earlier in his address, the Managing Director of the Mortgage BankMrOlawaleOsisanya, disclosed that his Management was in the Palace to appreciate His Royal Highness for his sense humility of and integrity clearly displayed in fixing the this meeting within a week of first meeting with him. And in addition, he came to solicit the support of the well informed, enlightened and influential Monarch with a view to spreading the message of the rebranded services of the Gateway Mortgage Bank Limited.

The Managing Director took the meeting through the present ownership structure of the Bank as presently owned by the State Government, Ogun State Property and Investment Corporation (OPIC), Ogun State Housing Corporation and Gateway Holdings Limited as Shareholders.

MrOsisanya told the Alake that that the Bank was well capitalised to the tune of N2.5billion for a State Primary Mortgage Bankand would, in the next 12 months move up to N5 billion naira capitalization required to become a National Primary Mortgage Bank as required by the Central Bank of Nigeria (CBN).

He listed some of the Bank’s Products and Services as including provisions for those without land to acquire one, Target savings accounts towards events i.eTravelling, holiday, wedding etcTreasure Savings account for children, Electronic Banking- ATM, etc.

He asserted that the Gateway Mortgage Bank Limited’s services were better than those of many commercial Banks as it had gone into the core banking businesses comparable with any financial institutions anywhere in the world.

He expressed joy that Financial Regulatory Authorities were very favorable to the Gateway Mortgage Bank because of its adherence to the best Banking practices.

Among its recent achievements was securing N160 million National Housing Fund (NHF)from the Federal Mortgage Bank of Nigeria (FMBN) for the beneficiaries of the LaderinWorkers Estate Home Owners.

He also disclosed that the Bank to date had over 17,000 customers which cut across the country and Nigerians in diaspora.


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