A significant alliance between Afia Group of Companies, owners of Afia Homes and Properties, and Stanbic IBTC Bank is set to revolutionise homeownership accessibility for residents of Ibadan and Oyo State.
This strategic partnership aims to make acquiring a home more affordable and attainable for the general populace.
Under this new initiative, aspiring homeowners will benefit from reduced down payment requirements, needing only 10% to 20% of the property value upfront, with Stanbic IBTC Bank providing the remaining funds through a mortgage.
A key feature of this collaboration is the offer of a competitive single-digit interest rate, a considerable advantage in the current economic climate.
Repayment periods are designed to be flexible, extending up to 20 years for Nigerian residents and 15 years for Nigerians in the diaspora.
Present for the signing of the Memorandum of Understanding (MOU) between the two organisations on Tuesday, February 10, 2026, at Afia Group’s head office, were: Engr. Abduljelyl Adekunle Karheem MCIArb, MCIOB, MCABE, Chairman/CEO of Afia Group of Companies; Miss Folasade Karheem, Managing Director of Afia Group; and representatives of Stanbic IBTC, including Mr. Taiwo Ala, Head, Product and Strategy; Mrs. Helen Emeka-Ndukwe, Head, Home Loan; and Ayobami Ayo-Olowo, Specialist, Home Loan.
This partnership underscores Afia Group’s strong performance and reputation for developing and delivering quality homes with proper titles.
Afia Homes and Properties currently boasts five impressive projects across Ibadan, including Afia Court, Chief Lateef Oyelade GRA, Ringroad; Afia Apartment, Chief Lateef Oyelade GRA; Mandamis Luxury by Afia, Iyaganku GRA; Magdalen’s Court by Afia, Agodi GRA, and The Crest by Afia, Agodi GRA.
The official launch campaign for this groundbreaking product is scheduled for early April.
This event will offer prospective buyers a unique opportunity to engage directly with representatives from both Afia Group and Stanbic IBTC Bank, facilitating immediate progress on their homeownership journey.
The collaboration offers several significant benefits to the populace of Oyo State and beyond.
The reduced down payment and single-digit interest rates make homeownership a realistic goal for a wider segment of the population.
Stanbic IBTC Bank’s structured mortgage financing removes a major barrier for many, while the partnership with Afia Group, a leading indigenous developer known for quality homes and legitimate titles, provides buyers with confidence and security.
Engr. Abduljelyl Adekunle Karheem MCIArb, MCIOB, MCABE, recently shared insights on the partnership at Stanbic IBTC’s Abuja Developers Roundtable.
He emphasised its value and benefits as a crucial step towards growth, innovation, and sustainable real estate development.
This collaboration marks a significant stride in addressing housing needs in Oyo State, empowering more individuals and families to achieve their dream of owning a home.
