Follow Us on Google
Chijioke Agwu, Abakaliki
The Ebonyi state Government will partner the Federal Mortgage Bank of Nigeria (FMBN) to construct 100 housing units for the state workers. This came as President Muhammadu Buhari has directed immediate construction of 3,600 low cost housing units across the 36 states of the federation.
Managing Director of FMBN, Ahmed Dangiwa who disclosed this in Abakaliki, Ebonyi State, at the commissioning of the bank’s new office complex said the President gave the bank the mandate to construct at least 100 houses in each of the 36 states of the federation.
“President of the country ordered us to build hundred houses in every state of the federation. Once we are given land in every state, we will build one hundred bungalows for the state”, he said.
Dangiwa said the active participation of Ebonyi State workers in the NHF scheme had resulted in a mutually beneficial relationship with the bank.
According to him, this has led to a grant of housing construction loan of N422m to the Ebonyi State Housing Corporation for the construction of 240 housing units of various descriptions out of which 72 units have been completed and occupied. “The bank has also advanced N621.35m to 1,050 members of Ebonyi State workforce under the FMBN Home Renovation Loan product”, he said.
The MD explained that the scheme was established to provide affordable mortgages to drive home ownership among Nigerian workers particularly the low and medium income earners.
He said this is being done through the National Housing Fund (NHF) scheme into which Nigerian workers both in the public and private sectors contribute 2.5 per cent of their monthly income.
“Through this scheme, the bank has continued to provide affordable mortgages to Nigerian workers and construction finance for housing development.
“Our National Housing Fund (NHF) loans granted at 6 per cent is the most affordable in the country. We also have the FMBN Home Renovation Loan (FHRL) with liberalised conditions for easy access by Nigerian workers while the rent-to-own product and individual construction loan have also been introduced to further facilitate home ownership for Nigerians particularly civil servants”.
Commissioning the office complex, Governor David Umahi promised that the state government will partner the bank to enable workers build their own houses.
