Rising inflation developers headache – ITMBN COO

The Managing Director/Chief Operating Officer of  Infinity Trust Mortgage Bank (ITMB), Mr Olabanjo Obaleye has identified  lack of liquidity, rising inflation and a weak currency as major challenges currently  facing property developers in the country.  He stated this at the 2016 ITMBPLC Annual General Meeting (AGM)  held Thursday in Abuja. He noted  further that the […]

The Managing Director/Chief Operating Officer of  Infinity Trust Mortgage Bank (ITMB), Mr Olabanjo Obaleye has identified  lack of liquidity, rising inflation and a weak currency as major challenges currently  facing property developers in the country. 

He stated this at the 2016 ITMBPLC Annual General Meeting (AGM)  held Thursday in Abuja.

He noted  further that the  commercial banks have refused to lend to real estate developers due to cash crunch and rising Non Performing Loans (NPLs).