FMBN disburses N74b for housing

Managing Director, FMBN, Ahmed Dangiwa

The Managing Director of Federal Mortgage Bank of Nigeria (FMBN), Arc. Ahmed Musa Dangiwa said in Benin at the weekend that over 4.6 million workers are partaking in the National Housing Fund (NHF) scheme, and that the bank has disbursed not less than N74bn to low and medium income earners to get their own houses.
   
Dangiwa stated this, when he handed over keys to the first batch of beneficiaries of three bedroom-detached bungalows in Benin.
 
Represented by the bank’s Executive Director, finance and corporate services, Melville Ebo, he said: “FMBN has advanced facilities for home renovation and expansion for housing development loans to cooperative societies to build houses for their members. 
 
“All these are efforts at making economically less-privileged Nigerians have access to affordable housing. All loans from FMBN attract just six percent interest rate.
   
“Mortgage loans of N5m and below are capitalised, so that beneficiaries don’t need to put down 10 percent of the property, as equity contribution or the 10 percent, for mortgage perfection. These are some of the benefits of NHF scheme. I wish to use this forum to appeal to Edo State workers to rejoin the NHF scheme. Of all states in the South-South, only Edo State is not participating in the scheme.”
 
The Managing Director\Chief Executive 0fficer of Delta Trust Mortgage Bank (DTMB), Mrs. Ruby 0koro, said their focus is to partner with individuals and organised groups in the creation of affordable or social housing to enable deserving individuals and groups realise their dream of owning choice homes.