Edo State House of Assembly Continues Debate on Bill For A Law to establish State Mortgage Agency

Consideration of a bill for a law to establish the Edo State Mortgage Agency and regulate Mortgage Creation, Foreclosure and Enforcement of Mortgages in real property and connected purposes” slated for second reading continued today at the Edo State House of Assembly .

Majority Leader Hon. Henry Okhuarobo kicked off debate on the bill for the second day by considering the reality and basic need for shelter where a mortgage can be a good option.
Deputy Whip Hon. Ephraim Aluebhosele described the bill as apt in view of importance of housing as a fundamental rights of citizens assuring that the bill if passed will address high cost of building and arbitrariness of estate agents through enabling laws.

The Deputy leader of the House Hon. Sunny Osezua Ojiezele , Deputy Speaker Rt.Hon. Roland Asoro and Member Representing Akoko Edo Constituency2 Rt.Hon Emmanuel Omoladun Agbaje while adopting position of colleagues on the bill said if passed will build investors confidence, enable residents own properties, provide legal framework for mortgage institutions in the state and increase the state’s Internally Generated Revenue .

Rounding off proceedings the Speaker, Rt.Hon. Amb Marcus Onobun said the bill is a win win situation for the government and the people in view of the numerous available opportunities.
The Speaker directed the House Standing Committee on rules and business to fine tune the bill and submit report in two weeks.

The House thereafter, observed a minute silence in honor of a former Member who represented Akoko Edo South Constituency in the then Bendel State House of Assembly Alhaji Aliyu Omokhide.
This was sequel to an adjournment motion by member representing Akoko Edo Constituency2 Hon. Emmanuel Agbaje.

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