The Edo Mortgage Agency Bill on Tuesday, passed second reading on the floor of the State House of Assembly.
Leading the debate on the bill, Mr Henry Okhuarobo, Majority Leader of the House said the bill when passed, will open up opportunities for the people in mortgage finance.
Okhuarobo said that the bill would offer easy access to mortgage loans with flexibility and expertise to meet the people’s needs.
The Deputy Speaker and member representing Orhionmwon South, Mr Roland Asoro, said the bill would provide legal framework for mortgage institutions in the state.
Asoro said that the bill when passed would help increase the state Internally Generated Revenue, as well as provide employment for the teaming youths.
The Speaker, Mr Marcus Onobun, in his submission explained that the bill would give legal backing to mortgage processes in the state as well as build confidence in mortgage institutions.
Onobun committed the bill to House Standing Committee on Rules and Business, with a mandate to fine tune and present same to the house within two weeks.
Mr Emmanuel Agbaje (APC Akoko-Edo 11), informed the house of the death of Mr Aliu Omokhide who represented Akoko-Edo in the defunct Bendel state House of Assembly.