The Chairman of the Board of Directors of Gateway Mortgage Bank, Evangelist Samuel Durojaye, reaffirmed the bank’s commitment to supporting the state workforce and the housing agenda of the state government during the 6th Annual General Meeting held in Abeokuta.
In his address to stakeholders, Durojaye expressed the bank’s unwavering dedication to providing various facilities to civil servants in the state through a range of products and services.
These offerings are aimed at furthering the housing needs and financial well-being of public employees, aligning with the state government’s vision for inclusive development.
Gateway Mortgage Bank has a remarkable track record of supporting the state’s civil servants over the past three years.
As of the end of 2022, the bank had granted various facilities amounting to a substantial N1.27 billion to 1,772 civil servants in the state.
This support has played a pivotal role in helping civil servants realize their housing aspirations and financial goals.
Highlighting the bank’s impressive commitment to the state this year, Durojaye revealed that a total of 674 civil servants have been granted loans to the tune of N1.18 billion.
This significant financial support is not limited to public sector employees; it also extends to individuals across the private sector and even those in the Nigerian diaspora, reflecting Gateway Mortgage Bank’s broad reach and inclusive approach.
Durojaye’s speech emphasized the bank’s dedication to contributing to the economic growth and development of the state.
By extending financial services to an even wider range of customers, Gateway Mortgage Bank is supporting not only the state’s housing agenda but also the overall economic progress of the region.
The chairman also highlighted the institution’s commitment to maintaining the highest standards of customer service and ensuring that all beneficiaries of the bank’s products and services are provided with the necessary resources to achieve their financial goals.
Gateway Mortgage Bank’s pledge to serve the state workforce and its housing agenda stood as a testament to its ongoing commitment to the people and prosperity of the region.
With the bank’s consistent support and its ambitious outlook, civil servants and citizens can continue to look forward to a brighter financial future and a more secure place to call home.
He expressed profound gratitude to the present administration and its agencies for their steadfast support, which has played a pivotal role in the bank’s successful turnaround.
Durojaye emphasised the institution’s dedication to its board-approved strategic business plan, which prioritises sustainable organic growth and fair compensation for stakeholders.
The chairman reaffirmed Gateway Mortgage Bank’s commitment to providing affordable housing solutions and ensuring that the bank’s products and services would be continually refined to meet the evolving needs of its target market.
In a resounding testament to effective leadership and commitment to financial excellence, the Ogun State Governor, Prince Dapo Abiodun, lauded the impressive transformation of the Gateway Mortgage Bank.
He said that under his administration, the bank has evolved into a robust financial institution, thanks to a substantial improvement in corporate governance.
Reflecting on the state of the bank when the current administration assumed control, Prince Abiodun recalled the dire circumstances it faced.
Issues like negative shareholder funds and a lack of alignment with global best practices in corporate governance had posed significant challenges.
However, the bank’s remarkable progress in corporate governance and enterprise risk management served as the antidote to these woes.
Consequently, the institution has witnessed a significant boost in stature, positioning it to operate as a robust financial entity in Nigeria.
Represented by the Chief Economic Adviser, Mr. Dapo Okubadejo, Prince Abiodun emphasized the bank’s pivotal role in supporting affordable housing initiatives, which, in turn, aided the State government in achieving its goal of ‘Housing for All.’
“With its strengthened corporate governance and solid financial footing, the bank is well-poised to make substantial contributions to the State’s economic growth and enhance the welfare of its citizens,” he declared.
Furthermore, Prince Abiodun underlined the government’s collaborative approach with private sector entities to develop diverse housing categories.
This partnership furthers the bank’s mission of delivering affordable mortgages.
He urged the bank to continue exploring collaborations and partnerships with government institutions and lending facilities to advance its mission.
In addition, Prince Abiodun recognized the government’s efforts in land administration reforms, particularly the forthcoming implementation of the OLARMs initiative.
He highlighted the soon-to-come electronic signature capabilities, which are set to expedite the issuance of Certificates of Occupancy (CoS) and simplify land acquisition processes.
The Gateway Mortgage Bank’s journey towards financial viability and excellence stands as a testament to Ogun State’s commitment to progress and the well-being of its citizens.
Also speaking, a customer of the bank, Mr. Ogo-Oluwa Bankole praised the State government for its efforts in revitalising Gateway Mortgage Bank and commended the bank’s operations and resilience in the face of national challenges, highlighting its ability to remain steadfast and provide reliable services
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