A subsidiary of ASO Savings and Loans Plc, ASO Investment & Development Company (AIDC) on Tuesday, July 24, 2012 signed a memorandum of understanding (MOU) with the Government of Abia state for mass housing development.

This new agreement will see AIDC build 400 units of two and three bedroom detached bungalows in the proposed Ochendo Liberation Housing Scheme, and it is in line with the state government's objective of providing affordable housing to its citizens all around the state through Public Private Partnership arrangement.

At the MOU signing ceremony in the Executive Chambers of the State House, Umuahia, the Executive Governor of the state, Chief Theodore Orji welcomed the management team of AIDC led by Mr. Collins Chikeluba, Chairman of AIDC and Vice Chairman of ASO Savings & Loans Plc, Isoken Omo, Managing Director AIDC, Kojo Sagoe and Rachel Dwyer both of the Public Sector Unit, ASO Savings & Loans Plc, Fatima Muhammed, Legal Officer, AIDC and Jane Odonwodo of the Corporate Communications department at ASO Savings & Loans Plc.

The Governor, who expressed his delight at partnering with the two organisations, was joined by some of his top cabinet members to sign the MOU. He afterwards, led his cabinet members and the AIDC team to the construction site at Amaobi Community, few minutes drives away from the capital city, Umuahia for the official Ground Breaking ceremony of the housing estate.

Speaking at the ceremony, the Chairman of AIDC who also doubles as Vice Chairman of ASO Savings Plc, Mr. Collins Chikeluba, stated that his organisations is doing a lot in providing affordable housing schemes and viable mortgage options for the Nigerian populace.

'We are partnering with the federal and various state governments across the country through the public private partnership scheme to key into the vision of the present leadership in Nigeria to provide housing for all Nigerians by the year 2020. It is for this reason that our organisations are collaborating with the Abia state government to launch the state housing scheme. This is part of his Excellency, Governor Orji's bold and ambitious housing programme to build the new Abia for Abians', Chikeluba explained.

Governor Orji, speaking to a large numbers of guests at the ceremony, promised that the Ochendo liberation Housing scheme will be delivered in phases, with the first phase of 50 units of 2 and 3 bedrooms of exquisite urban architecture bungalow. It will be built on 38 acres of land, with modern infrastructures; and it is expected to be completed within 12 months.

Chief Orji, who was being hailed 'Ochendo' by the large numbers of his supporters at the occasion, emphasized that the project is targeted at the civil servants in the state. 'Housing is essential, and we Abians valued roof over our heads. The Ochendo Liberation Housing Project is targeted at the civil and public servants here in Abia so that when they retired, they can have roofs over their heads'.

Furthermore, Chief Orji disclosed that the beneficiaries 'will take mortgages from ASO to buy the houses without any collateral. We are to provide the lands while they take it up from there. All these have been stated in the MOU and we will follow the agreement to the letter'.

Earlier at the MOU signing ceremony, The Managing Director of AIDC Mrs. Isoken Omo, had confirmed that AIDC will be financing the project while the sister company ASO Savings & Loans Plc will be providing mortgage options to all the intending beneficiaries in the scheme. 'The mortgages will be secured from the Federal Mortgage Bank of Nigeria (FMBN) at 6% interest rate for those that have been contributing to the National Housing Scheme and the Cooperative Housing Scheme of the FMBN.

http://www.thenigerianvoice.com/nvnews/95295/1/aidc-aso-savings-partner-abia-government-for-hous.html