The top management of ASO Savings and Loans Plc will on Tuesday, join the Minister of Lands, Housing and Urban Development, Ms. Ama Pepple, to officially perform the ground breaking ceremony for the proposed Lugbe Social and Affordable Housing Scheme in Abuja.
The ceremony will be witnessed by top government dignitaries; senior officials of ASO Savings and Loans Plc, representatives from the organised labour, guests of the diplomatic community and members of the press.
According to an official statement, the Lugbe Social and Affordable Housing Scheme is one of the pilot projects that the federal government, through the Federal Ministry of Lands, Housing and Urban Development, has embarked upon towards meeting the housing needs of low income Nigerians who reside in the Federal Capital Territory (FCT), Abuja.
On the other hand, ASO Savings and Loans Plc, as part of its corporate objectives to create platform for affordable homes for Nigerians across the nation, has partnered with the Federal Ministry of Lands, Housing and Urban Development to ensure successful take-off of the project which is currently at the pilot stage.
The Lugbe Social and Affordable Housing scheme will be constructed on a 1.5 hectare land, donated by ASO Savings. It is located on Plot 553, Lugbe District in Abuja.
ASO Savings is driving the development of the pilot scheme through its property firm, ASO Investment and Development Company (AIDC).
ASO Savings and Loans Plc is a Primary Mortgage Institution (PMI), incorporated in Nigeria as a limited liability company on November 9, 1995 and converted to a public liability company (Plc) on September 22, 2005.
It is regulated by the Central Bank of Nigeria (CBN) and as a PMI focuses primarily on mortgages for individuals and businesses.
Though mortgages are its primary focus, it focuses on other banking activities, with a heavy emphasis on generating savings and its flagship product is the My House Savings Account.