Real estate firms engage NOUN staff, say 25 percent of RSA can be liquidated

By Favour Egwu
Real Estate Firms interaction

A trio of real estate firms has engaged staff of the National Open University of Nigeria (NOUN) where they dangled easier routes and procedures for civil servants to own houses through mortgage as well as liquidate up to 25 percent of Retirement Savings Account (RSA).

They made these known during an interactive session held on Wednesday, May 10, 2023, at the headquarters of the university that aimed to inform, educate, advertise, and answer pressing questions on real estate-related issues from the staff.

Luxiar Estate, one of the firms, said through its representative, Mr. Abubakar Salami, that it can help facilitate staff’s mortgage and the liquidation of 25 percent of RSA, which can be added to one’s equity and make him/her an owner of one of their properties.

Salami said "the organisation is willing to carve out a part of their estate to create a NOUN estate; it will be fully run by staff, which would, in turn, mean a very subsidised service charge.

He added that "We don't just bring shelter; we bring a high return on investment. We only buy properties with prospects of ever-increasing value."

A representative of Perfect Estate, Gloria Solomon, said their collaboration with the Federal Government Staff Housing Loans Board, known as the Rent-To-Own scheme, was to make house ownership through mortgage easier for civil servants, adding that every civil servant is qualified for the scheme as long as they meet basic requirements.

On its part, Eco Shelters Real Estate Firm, through its representative, Mr. Nelson Ongwatabo, stated that the firm has a good working relationship with the Federal Mortgage Bank, which gives civil servants access to their loans to develop acquired properties and also fast-track the availability of needed funds.

While answering questions, they urged members of staff to take this golden opportunity, which, according to them, would be extremely beneficial in the long run.

The representatives also noted that one notable requirement for 25 percent of RSA funds to be liquidated was five years of service and savings.

Speaking earlier, the Head, National Housing Unit, NOUN, Busari Idayat, thanked staff for taking out time to attend, urging them to pay attention as it was for their benefit.

Idayat added that any staff interested in going further should not do so on their own but carry the university along.

 In his vote of thanks, Deputy Bursar, Student Accounts, Paul Akom, thanked the management for the opportunity to organise such an event as it showed the care they had for the staff of the university.

 Akom, therefore, encouraged staff to get involved, as they would be better off in the long run.