Governor Ahmadu Umaru Fintiri has intervened to rescue the former Adamawa Homes and Savings, now rebranded as Adamawa Mortgage Bank.

The bank, which faced closure due to its inability to meet the Central Bank of Nigeria’s capital base requirements, is set to resume full operations within the next 45 days.

Governor Fintiri emphasized the importance of the bank in providing essential financial services to the people of Adamawa State.

With the Central Bank’s approval of a special window, the mortgage bank has been given a lifeline to meet its obligations.

Dr. Norris Giscard, the bank’s General Manager, assured customers that there will be no losses and that the revived institution will offer expanded services, including an e-platform, ATM, and intermediation for NHF contributions.

The bank now boasts a capital base of N2.54 billion and a total asset base of N4.6 billion, aligning with the Central Bank’s regulatory standards.

This intervention is expected to significantly impact the state’s economy and housing sector, providing a boost to homeownership and development.