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Sunday, June 4, 2017

Nigerian Senators Move To Buy N50m Flats In Abuja; See How They Plan To Pay

There are indications that Nigerian senators have concluded plans to purchase N50m flats in an estate close to the Apo Legislative Quarters in Abuja.

Members of the Federal House of Representatives are also said to be involved in the arrangement being facilitated by a housing developer in the federal capital.

Each senator is expected to pay about N2.5m monthly under the arrangement as the mortgage deal is expected to have a 2-year span.

The plan to purchase the N50m flats was said to have been discussed at an executive session of the senate on April 4, 2017 when plenary was paused to allow the lawmakers deliberate on the deal behind closed doors.

A senator reportedly told the Punch;
“An estate developer brought the idea, believing that payment for the facility will be secure, being that members of the National Assembly will have regular income during the two-year payment period. It is a smart move for the developer,” 
Speaking further on the modalities for the acquisition of the N50m flats, the senator is quoted to have explained that chairman of the Senate Services Committee, Ibrahim Gobir said some estate developers wanted to sell housing units under a plan similar to a federal mortgage facility.

The senator also revealed that some of his colleagues had formed groups in which all members contribute a specific amount monthly.

He said;
“We have some of us who contribute N2m monthly – about 25 of them – and they rotate the collection of N50m by one member every month.”
Chairman of the Senate Committee on Media and Public Affairs, Senator Sabi Abdullahi, however told the Punch that he was not aware of any such housing plan or contributions.

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