• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Friday, August 29, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Why I Joined APC – Ex-Imo PDP Scribe

by Leadership News..
2 years ago
in News
Share on WhatsAppShare on FacebookShare on XTelegram

The chairman of Chiocestone Capital Limited, Qudus Kola Balogun has made a case for the former managing director of the Federal Mortgage Bank of Nigeria (FMBN) Ahmed Dangiwa to be made the minister of housing.

Advertisement

He said Dangiwa, as the boss of FMBN, realised that many of the houses that banks had built were not subscribed because people could not access them due to their equities being too high.

Consequently, he created another programme called “Rent-to-Own” which enabled subscribers to approach FMBN offices in the states to access loans and own their houses.

In a statement he issued yesterday on the ministerial nominee, Kola Balogun said Dangiwa also brought an insurance scheme to the mortgage housing sector – in the event that the house is destroyed by a storm, rain or other causes, insurance will be there to cover the loss, death and paying up the house on behalf of the deceased’s family.

According to him, Dangiwa also introduced the use of certificates of occupancy (C of O) for lands, adding that, “instead of buying houses, subscribers got loans to build the houses at their own pace on any location.”

RELATED

US Vetoes Call For ‘Immediate Ceasefire’ In Gaza

US Connecticut State Declares August 23 Ex-APC Presidential Aspirant’s Day

14 minutes ago
Oyinlola, Oyedokun Say Adeleke Proved Naysayers Wrong In Osun

ADC, A Group Of Failed Politicians, Says PDP

14 minutes ago
ADVERTISEMENT

He said under this arrangement, money is given to subscribers in three phases – 30 percent to start it; 30 percent to roof and the remaining 40 percent for finishing.

 

Other milestones recorded by the FMBN management under Dangiwa, he said were zero equity contribution for mortgage loans that were N5 million and below, reduction of equity for loans of up to N15 million from 30 percent to 10 percent as well as increased tempo in the provision of housing loans to Nigerian workers under the National Housing Fund (NHF).

ADVERTISEMENT

 

He said, “Under Dangiwa, FMBN’s increased nationwide public sensitisation programme, high-level engagements with stakeholders including state governments, labour unions and other housing industry persons and increased transparency saw the increase of workers who contribute 2.5 percent of the monthly salaries to NHF scheme rise above five million. Thus, expanding the pool of finance available to the FMBN.

 

“Notably, the bank pooled a total of N134 billion from the NHF within three years, with N121 billion in loan approvals. This implied an average of N44 billion in total contributions per year! The difference is stark when compared to total collections of N232 billion between 1992 and 2016 at a yearly average of N9.6 billon.

 

“The astonishing improvements recorded by the Dangiwa-led team within three years are significant in the history of housing development in Nigeria at two fundamental levels.

 

The strides signalled what is possible and should encourage the government and relevant industry stakeholders to support and encourage

 

“From a very unique perspective, therefore, Dangiwaunderstood why developers build expensive houses. He links this to limited funds available to them. First, they got the lands at very high costs – as high as 25 to 30 percent. In banks they give construction finance at 25-30 percent interest rate, but here we give construction finance to developers at 10 percent, so we have reduced in such a way that constructions done by developers for FMBN subscribers are meant to be more affordable.”

 

“Dangiwa spearheaded a N500 billion recapitalization drive of the bank to boost its capacity to create affordable mortgages which has received federal government and stakeholder wide support.

 

“FMBN sent a memo to FEC for the required N500 billion. However, Dangiwa explained that the bank was not expecting this to be made available in a fell swoop. Realistically, it was looking for N200 billion as equity contribution from the government, while N300 billion was to be sourced from investors who wanted to invest in FMBN,” he said.


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


SendShare10168Tweet6355Share
ADVERTISEMENT
Previous Post

Trafficking: Nigeria Has More Unidentified Victims In  West Africa – UNODC

Next Post

Hardship: Tinubu Begs For Understanding, Labour Insists On Strike

Leadership News..

Leadership News..

You May Like

US Vetoes Call For ‘Immediate Ceasefire’ In Gaza
News

US Connecticut State Declares August 23 Ex-APC Presidential Aspirant’s Day

2025/08/29
Oyinlola, Oyedokun Say Adeleke Proved Naysayers Wrong In Osun
News

ADC, A Group Of Failed Politicians, Says PDP

2025/08/29
Tinubu’s Neo-liberal Policies Can’t Achieve Anything In 40 Years – Adebayo
News

Tinubu Can Still Be Competitive In 2027 If… – SDP Adebayo

2025/08/29
Lakurawa: Ohanaeze Ndigbo Charges Federal Gov’t To Crush New Terror Group 
News

2027: Igbo Free To Contest Presidential Election – Ohanaeze

2025/08/29
News

God First Ministry To Mark 36th Anniversary With Charity

2025/08/29
Alleged Bias: Opposition Mounts Against ICC
News

NAN Berates Senator Adamu Over ICC Petition On Kaduna By-Election

2025/08/29
Leadership Conference advertisement

LATEST

US Connecticut State Declares August 23 Ex-APC Presidential Aspirant’s Day

ADC, A Group Of Failed Politicians, Says PDP

Tinubu Can Still Be Competitive In 2027 If… – SDP Adebayo

2027: Igbo Free To Contest Presidential Election – Ohanaeze

ADC Tackles INEC Over New Voter Registration Figures

The Mawlid Debate

God First Ministry To Mark 36th Anniversary With Charity

NAN Berates Senator Adamu Over ICC Petition On Kaduna By-Election

Kaduna: Kidnap Ranking Report False, Mischievous – Commissioner

Okutepa, Idachaba And The New Igala Renaissance

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.