FMBN Invests N1.4bn On 402 Housing Units In Niger State

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 By Chika Okeke, Abuja
The Federal Mortgage Bank of Nigeria (FMBN) has invested about N1.423 billion on 402 housing units in Niger State. Managing director of FMBN, Arc. Ahmed Dangiwa stated this in Abuja when he received the Deputy Governor of Niger State, Ahmed Ketso in his office yesterday.

The housing units are FMBN/Sintas Estate in Zuba with 92 units and FMBN/Jedo Ministerial Pilot Housing Scheme Estate in Suleja with 102 units. Others include FMBN/Niima Shelter Limited with 75 units and the FMBN/Sea Mountain Estate also in Minna with 133 units, which was recently commissioned.

Dangiwa noted that a total of N249 million has been refunded to 3,549 contributors of the National Housing Fund (NHF) scheme in line with the provision of the Act.

He commended the state government for providing a conducive environment that heightened the investment adding that workers in the state were one of the most consistent contributors of the scheme.

While noting that remittances were stopped due to hitches in the bank, he requested the recommencement of NHF contributions in the state. Dangiwa solicited for partnership with the state government to ensure that its workers purchased the available housing units of the FMBN-funded and non-funded housing estates within the state.

He called for timely issuance of title documents and governor’s consent at concessionary rates to enable FMBN conclude mortgage transactions for housing units in the estates. The MD confirmed that the bank would sustain partnership with the state for physical and economic development especially in the area of affordable housing delivery.

“We also want to assure workers that all the loan facilities are at the affordable rate of six per cent, while the mortgage loan of five million naira and below do not attract less than 10 per cent equity contribution or ten per cent perfection fees,”.

The FMBN boss promised that the management team was streamlining and improving the payment of NHF to contributors.

On his part, the Deputy governor, Ahmed Ketso assured the bank of its support and partnership even as he called for fast tracking of the projects, especially those located in Madalla and Suleja axis of the state.

On recommencement of NHF contributions, Ketso requested that the Office of the Head of Service of the Federation should provide details on why NHF contribution was stopped in the state in order to resolve the issues amicably.

He emphasised that since the present administration came on board that it has been implementing inherited projects that are beneficial to the citizens.