El-Rufai issues C of O to Sheikh Gumi, Kawo traders, assures loans

Governor Nasir El-Rufai of Kaduna State on Thursday, issued Certificates of Occupancy to traders at a market remodeled after Sheikh Abubakar Mahmud Gumi and Kawo market in Kaduna.

Governor El-Rufai noted that the allocation of the shops was supported with a mortgage system wherein the beneficiaries have made 10% payment of the costs of the shops. The governor added that the system was in partnership with Sterling and Jaiz banks, saying the banks will provide loan to the traders on a single digit interest of 9 per cent.

The governor stated that the “traders will have a mortgage arrangement of 40 years after which they can assign or sale their shops after payment of the mortgage dues.” He added that the certificate of occupancy would be deposited in the banks as collateral to obtain the facility.

Governor El-Rufai declared: “We are transferring ownership of all shops to genuine traders in our markets starting with the Abubakar Gumi market.” He urged the banks to extend the loan repayment period by traders from seven to 10 years.

Chairman Caretaker Committee of Sheikh Abubakar Gumi Market, Abdulrahman Muhammad, on behalf of the beneficiaries, thanked the state government for the gesture and appealed for more support.