The Institute of Mortgage Brokers and Lenders in Nigeria Bill initiated by Ondo State born Entrepreneur, Realtor and Financial Analyst, Jasper Adeleye Olusayero has passed third reading at the House of Representatives.
Jasper Adeleye Olusayero who is
the Director General and Chief Executive officer of the Institute of Mortgage Brokers and Lenders of Nigeria proposed the bill to regulate mortgage practices in Nigeria.
The bill sponsored by Hon. Danchung Musa Bagos representing Jos South/ East federal constituency (Plateau state) passed the third reading at the floor of House of Representatives on Wednesday.
The Mortgage Practices Regulation Bill which was presented on the floor of the green chamber in 2020 enjoys massive support of the lawmakers due its benefits toward addressing housing deficit and protect interest of Small enterprises accessing credit facility in the country.
According to Adeleye Jasper, the act to establish the Institute of Mortgage Brokers and Lenders of Nigeria when passed will empower the Institute to advance the study, training and determine the standard and knowledge of and skills to be attained by person seeking to become registered member.
The Institute will be given professional status in Nigeria by the passage of this bill, thereby bringing mortgage practices in Nigeria at par with other climes globally.
The Institute of Mortgage Brokers and Lenders in Nigeria will also give professional status like other professional organization