FMBN Gives N7.7bn To Nasarawa Indigenes For Home Renovation

Over 105 indigenes of Nasarawa State, have emerged as homeowners under the Federal Mortgage Bank of Nigeria, (FMBN) Rent-to-Own Scheme with mortgages in the sum of N666 million.

The managing director/chief executive officer of the FMBN , Shehu Usman Osidi made this disclosure during a courtesy call by the deputy governor of Nasarawa State, Dr. Emmanuel Akabe at the headquarters of the Bank in Abuja.

Osidi who said under the National Housing Fund (NHF) Scheme, the FMBN has disbursed housing loans to numerous beneficiaries including giving an advance of about N7.7 billion to 8,754 Indigents of Nasarawa State, also promised that the Bank is poised to provide mortgage finance for off-takers of completed housing units in Nasarawa Technology Village.

While revealing the number of FMBN projects that are presently ongoing in Nasarawa State, Osidi boosted that:

“The Bank has also financed more than 11 housing projects in the state, most of which have been completed and delivered. These include the delivery of 632 housing units under the co-operative housing development loan in the sum of N6.6 billion and the sum of N598 million for the construction of 100 housing units under the NLC/TUC/NECA housing scheme in the state. The sum of N3.7 billion was advanced for the construction of 1,194 housing units under the estate development loan window”, Osidi revealed.

In his response, the deputy governor of Nasarawa State, Dr. Emmanuel Akabe thanked the management of the Bank for providing mortgage financing for the people of his state and revealed that they were at the FMBN to seek more opportunities for engagement with the FMBN.

“We have heard a lot of deliberations with the civil servants in the state and I am here to make a plea that the FMBN should assist in obtaining houses for civil servants and put in whatever formula that can be possible so that the civil servants can be paying to the Bank within a stipulated time period”