Abuja, Nigeria – E be like say Federal Mortgage Bank of Nigeria (FMBN) don gather plenty money o! Mr. Shehu Osidi, wey be the Managing Director and Chief Executive Officer of FMBN, come dey shine mouth for FMBN Day during Africa International Housing Show (AIHS) wey happen for Abuja. E talk say dem don recover N18.9 billion from bad loans wey dem dey chase since 2024.
Osidi no make am small talk, him remind everybody say for the same event for 2024, FMBN don set up seven recovery task teams wey dey work hard to collect money wey people no pay back. Na how the teams fit gather over N10.9 billion, plus the normal recovery wey also yield N3.1 billion in the same year. My guy, that na wetin we call hustle!
E still drop more gist say FMBN also dey chop money when e come to loan approvals. According to am, dem don approve N71.5 billion as loans, compared to N39.7 billion wey dem collect for 2023. You see as dem dey grow?
Osidi dey shine light on National Housing Fund (NHF) too, say the money for that one don gree grow by N3 billion for 2024, turning the total to N103 billion from N100 billion wey dem get for 2023. Na serious business be this o! (FMBN dey show how you fit shine your own bank account too.)
As we dey talk now, e get the backlog wey FMBN clear for unaudited accounts since 2018, 2019, 2020, and 2021. E be like say dem don finally catch demself well, and dem dey plan to show full audited accounts by the end of this year 2025. Talk about transparency!
For the first time in over 30 years, FMBN talk say dem don make operational surplus of N11.5 billion. Osidi dey sip Beluga vodka as e dey talk, because this na sweet achievement wey fit make any bank jump up for joy!
Make we no forget say FMBN dey work with Ministry of Housing for President Bola Tinubu housing agenda wey dem call Renewed Hope Housing programme. Dem don drop N100 billion as guarantee to support the funding wey go make people fit get their houses across Nigeria. Places like Abuja, Kano, Lagos, and more dey enjoy this sweet deal.
Osidi also show say dem dey release more funds, like N19.9 billion for Karsana project in Abuja and N27 billion for Renewed Hope City wey go dey deliver 1,500 houses. (Na who no go wan live for this kind palace?!)
Dem no stop there o! FMBN dey introduce new products to make house ownership easy for everybody. From August, dem go roll out three new products. One na Non-Interest Mortgage Loan for those wey no wan carry interest on top their head. The other na NHF Diaspora Mortgage Loan wey go help lazy Nigerians abroad fit own their own house back home. Finally, dem go drop Rent Assistance for those wey need am sharp sharp before dem fit buy their houses. (Na everybody dey shine their eye on this matter.)
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