Africa's Richest Man Says Mortgage Financing Could Help Fight Corruption in Nigeria

Newscast - Africa

English - August 15, 2019 13:18 - 1 minute - 2.26 MB
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Africa’s richest man and the President of the Dangote Group, Alhaji Aliko Dangote has called for the need to adopt proper mortgage financing and consumer credit in Nigeria. According to him, the availability of these is important in tackling corruption, alleviating the sufferings of people and reducing the hardship encountered by buyers when purchasing goods in the country.

He was speaking during a visit to Mr. Bola Ahmed Tinubu, Dangote said, “ I believe what will help us the most is mortgage financing or consumer credit. Most

people go into corruption because they are worried about how to get a roof over their head, or how to buy furniture because we live in a society where everything you’re buying you pay cash.”

The business tycoon had previously stressed the need for the Central Bank of Nigeria (CBN) and commercial banks to develop consumer credit products in order to encourage low income earners to engage more in loan taking.

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