Alum Ikaka Introduces Housing Development Lottery

Uzo Chikere

A new innovation in acquisition of homes has been introduced where by people could become house owners through winning lottery in Nigeria. Unveiling the project christened Nationwide Housing Development Lottery managed by Alum Ikaka Estates Ltd. In Lagos midweek, the promoters disclosed that a three-bedroom flat would be won.

Designed as a private initiative to enhance housing development and ownership among the populace, the lottery which will be won after 90 days from its commencement on January 14, 2015 also has a consolatory prize of one bedroom apartment for any entrant who has consecutively lost in 20 editions and can show proof of entry.

Throwing more light on the housing lottery, a company board director, Prof. A.D. Badaiki, who spoke on behalf of the board said that said that Alum Ikaka had put all logistics in place, adding that any eligible and legally recognized entity, individuals,  men , women boys and girls, even companies and organisations can play the lottery.

Prof. Badaiki further said that the company’s vision was to build upon the laws, regulations and existing national lottery systems in the country even as he stated that the objective was “first and foremost to engage in mass housing lottery in Nigeria and operate same according to the terms of the license granted by the National Lottery Regulation Commission, and in accordance with existing laws and regulations.”

Speaking at the event, the chairman of the board of directors of Alum Ikaka Estates Ltd., Maj. Gen. Cyril C. Iweze, urged Nigerians to take advantage of the opportunity provided by the lottery to own property for themselves as it will be on 30-day basis.