AGMB targets one million mortgages nationwide

CEO, Ngozi Anyogu Credit: AGMB

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AG Mortgage Bank Plc has announced the activation of its five-year transformational plan (2025–2030) with emphasis on what it described as the High 5s: organisational transformation, sustainable capital base, growth, impact, and shareholder value.

It said in a statement that with this transformational plan, the bank expects to be Nigeria’s number one housing finance group by 2030, reflecting its immediate strategy and long-term goals.

Commenting on this journey, the MD/CEO of AG Mortgage Bank Plc, Ngozi Anyogu, said, “The transformation is worth it, and this is why, as CEO, I am convinced that Nigerians desiring to own homes are making too many financial trade-offs to realise their dreams of home ownership.

AGMB, as the category leader for affordable housing mortgage delivery, has to bring a radical change in performance to the consumer.”

He added, “Our strategy as a national mortgage bank is to increase housing volume with our set goal of one million mortgages by 2030. This way, we can create wealth for all our investors and customers, and help reduce the 20 million housing deficit in Nigeria through shared wealth creation across the entire real estate value chain.”

The statement stated that AGMB offers best-in-class mortgage solutions to Nigerian consumers, enabling them to own affordable and livable homes through the bank’s network of partners and competent, motivated teams across regional offices in the West, North, and East.

“We are committed to being the leading Primary Mortgage Institution in Nigeria with a commanding nationwide presence. To this end, we were granted a National Mortgage Banking License by the Central Bank of Nigeria, and now have regional offices in the North (Abuja), East (Enugu), and West (Lagos), with our headquarters located at 96, Opebi Street, Ikeja, Lagos,” the bank stated.

AGMB believes it can make a significant difference in the lives of millions of Nigerians by making home ownership accessible to all.

“With AG Mortgage Bank Plc, housing possibilities are endless. developers can access construction finance and mortgage advisory services; cooperatives can provide affordable mortgages for their members; and traders’ associations can own shops or offices on friendly terms through AGMB’s commercial mortgage products.

“Also, schools and religious bodies can meet land and place-of-worship needs through social mortgage schemes; public and private sector entities can implement staff home ownership schemes using AGMB’s residential mortgage products and advisory services,” it stated.

It stated that the growth plan aligns with AGMB’s long-term vision: “Be the No. 1 housing finance group in Nigeria, providing exceptional customer service and driving sustainable growth and economic development in the communities we serve.”

The bank recognises the importance of best-practice principles and accountability to stakeholders, ensuring long-term shareholder value while taking into account all stakeholders’ interests. AGMB continually updates and reviews its structures and processes to implement best business practices and exhibit value-based performance.

As a member of the Mortgage Banking Association of Nigeria and a Primary Mortgage Bank, AG Mortgage Bank Plc’s primary business includes mortgage lending, real estate construction finance, and mortgage advisory services. The bank also draws from mortgage funds such as the National Housing Fund Facility for on-lending, savings, term deposits, and mortgage-focused financial solutions.

Josephine, a correspondent with The PUNCH has over two years experience covering the building industry and the personal finance ecosystem

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