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Government should encourage private investors on mortgage — Anyadubalu

Pat Anyadubalu, is  a legal practitioner, activist, prolific writer and author of several books. In this interview, he spoke on his career as an author, banking and mortgage law as well as the land use act. Excerpts.

Would you like to talk on some of the books you have written?
Yes, I have written a novel, entitled “Behind the Campus” which is a satire  of what happens in our tertiary institutions. The great novelist, Late Chief Cyprain Ekwensi wrote the introduction. The second book is “Topical Issues in Nigerian Politics (1996 to 2006)” which is a compendium of my selected articles published by the various print media during the period under reference.


The third and the latest book is on Law (my primary constituency) is “Banking Law and Mortgages in Nigeria”. The above latest book is yet to be unveiled to the general public.

So when do you intend to unveil the book  to the public
Well, the public presentation of the book will take place tomorrow at the Nigerian Institute of International  Affairs, Kofo Abayomi street Victoria Island.

What prompted you to write this book on banking law and mortgages
I have handled many cases on banking and read many books on banking law and mortgages, by some by our Nigerian authors, while others by foreign authors. I wish to point out that most of these books were written by academics and these books rely heavily on foreign judicial authorities.

I felt there is need to write a book on this subject matter that will rely mainly on Nigerian Judicial authorities with little reliance on foreign authorities.
Again, I felt the need for a practical approach on the subject matter. There is always a line of difference between theory and practical.

In Nigeria, there is dearth of Nigerian judicial authorities; therefore, we got authorities from other foreign jurisdictions. Central Bank of Nigeria (CBN) guidelines on electronic banking is provided for easy reference.
How long did it take you to write this book

Well, I started it in 2005 and completed it in 2013 though I was distracted by my participation in partisan politics.
Banks should also be encouraged to grant long term loans to such private investors.

Many companies have lately been selling lands to people in Lagos State  in form of estate development, what advise do you have for such persons?.
Well, I have also seen the fliers of such emerging estates. It is good and it will enable many people to own land however buyers should beware and avoid being carried away by beautiful houses downloaded from the net. The title documents of such estate should be thoroughly investigated. Do not invest if the company does have global certificate of occupancy because that puts a question mark on the title documents.

Again what title is the selling company giving to the buyer and who has the reversionary interest at the expiration of the 99 years of certificate of occupancy. Above all consult a legal practitioner.

Some people are clamouring for the scrapping of Land Use Act 1978, what is your take on that?
I will not subscribe to the total scrapping of Land Use Act 1978. Land is an important factor and source of revenue to the government. Again, by having an Act regulating the use of land, it gives value to the land. How will a piece of land be used  for mortgage if the owner is unknown or open to conjecture in view of the conflicting stories of family history relating to ownership of land.

I will rather call for the modification the Land Use Act, the process of obtaining the certificate of occupancy should be liberalized and be made cheaper and easier.


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