FMBN Urges Edo Govt to Key into Nat’l Housing Fund Scheme

The Federal Mortgage Bank of Nigeria has appealed to the Edo State Government to ensure that workers in state rejoin the National Housing Fund scheme, disclosing that Edo is the only state in the South-South region that has not keyed into the NHF scheme.

Managing Director/Chief Executive Officer of FMBN, Ahmed Musa Dangiwa, who stated this in Benin, recently, noted that it would be wholesome if Edo workers join the NHF scheme and join millions of Nigerians that have benefitted from the scheme.

Dangiwa spoke at the handling over ceremony of house keys to the first batch of beneficiaries of three (3) bedroom detached bungalows at the Goshen Garden City Estate built by a private developer at the by-pass, Benin City.

Represented by the Executive Director, Finance and Corporate Services (FCS) of FMBN, Mr. Maelville Ebo, Dangiwa disclosed that 4.6 million Nigerian workers were already partaking in the NHF scheme.

The FMBN boss who said that about N74 billion have been disbursed to low and medium income earners to get their own houses, noted that Edo workers might have opted out of the NHF scheme because things were not done perfectly in the past.

However, he said the new team has been able to change the dynamics in the scheme and are aggressively pursuing those who embezzled money meant to build houses for workers.

“We are pursuing the looters to wherever they are. We are recovery hundreds of millions of naira and reinvesting the money in estate like this. Everything has changed. It will be wholesome if Edo joins and they will benefit from the Federal Mortgage Bank of Nigeria. “The FMBN had 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 the economically less-privileged Nigerians have access to affordable housing. All loans from (FMBN) attract just 6% interest rate.”

“FMBN has disbursed #22.7 million as Home Renovation Loans to some beneficiaries, We are improving the benefits of the (NHF) Scheme, and quickly looking at ways to make it more affordable. “

“One of such is that mortgage loans of #5 million and below are capitalised, so that the beneficiary does not need to put down 10% of the property, as equity contribution or the 10%, for mortgage perfection. These are some of the benefits of the (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 geo-political zone, only Edo state is not participating in the Scheme”, Dangiwa stated.

Earlier in her speech, the Managing Director/Chief Executive 0fficer of Delta Trust Mortgage Bank (DTMB), Mrs. Ruby 0koro, said it was time the Edo government took position on whether to join the NHF scheme or not. Mrs. Okoro said that the distribution of keys to beneficiaries of the first private estate in the state was a clarion call for the government and the people of Edo to get back to contribute to the NHF scheme.

She urged the Edo state government to support the project by providing infrastructure such road network and drainages within the estate.

Also in his remarks at the event, the Managing Director of Prucriz Property and Investment Limited/Developer of Goshen Garden, Chris Ebbih, appealed to Governor Godwin 0baseki to help the project by constructing an access road leading to the estate.