A.G Mortgage Bank Plc is set to mark its 20th anniversary in grand style, pledging to expand its services, launch new products through a well organized exhibition, and deepen its commitment to affordable housing across Nigeria.
Speaking in an exclusive interview with Housing TV correspondent, the bank’s Managing Director, Mr. Ngozi Anyogu, reflected on the institution’s humble beginnings and its significant contributions to home ownership.
“Twenty years ago, we were invited to look at the need of some of the pastors of the Assembly of God church who were retiring without the benefit of owning homes,” Anyogu said.
“We observed that this was not just a problem for pastors but for many Nigerians. We felt the best way to help was to set up an organization that supports home ownership for these less privileged people. That happened in 2005.”
According to Mr Anyogu, since then, AG Mortgage Bank has created over 3,517 mortgages and currently services more than 215 customers nationwide. It now operates with a national license and maintains five branches across the country. Beyond housing, the bank has embraced an ESG (Environmental, Social, and Governance) framework to support women and youth empowerment.
“The ESG structure has enabled us to reach out to women, where we have a target of 500,000 women within the next year, and so far we have reached 25,000 of them,” Anyogu stated. “We are also training youths in modern technology as part of giving back to society.”
The Managing Director further explained that the bank has grown from N200 million in capital to a N23 billion business, with savings portfolios exceeding N20 billion. It was the first institution to access MREIF and remains one of the highest drawers under the Federal Mortgage Bank National Housing Fund.
Reflecting on challenges, Anyogu said: “When we started, we had over 210 competitors. Today, we are just about 30. We survived industry shakeouts and increased our capital from N200 million to N5 billion. That’s why we have to celebrate.”
The bank will commemorate the milestone with an anniversary celebration and product exhibition on September 26, 2025, at the Abuja Continental Hotel where over 120 key stakeholders, developers, and industry leaders are expected to grace the event
“We are unveiling well over 12 products that day,” Anyogu revealed. “We will also be the first bank to support Green Housing, and we aim to create 300,000 mortgages by 2030, grow our customer base to one million, and raise our capital to N20 billion.”
Anyogu added that the bank is investing heavily in information technology to digitize operations and tap into diaspora remittances for housing development.
“Our hope is to continue to provide quality services to Nigerians and take the leadership position in the sub-sector,” he said.
