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  •  Prof Abdulqadir Abikan the National President of Muslim Lawyers Association of Nigeria MULAN has commended the Federal Mortgage Bank of Nigeria FMBN for introducing Non Interest Rent to Own Housing Product to enable a broader spectrum of Nigerians own their homes According to the University of Ilorin Unilorin Bulletin issued on Monday Abikan made the commendation when he led a team of MULAN executive committee members on a courtesy visit to the FMBN Management Team at the Bank s Head office in Abuja Abikan who is also the immediate past Director of the School of Preliminary Studies Unilorin said the association received the news of FMBN s approval of the non interest rent to own product with extreme excitement This is because it provides an alternative mortgage scheme for many Nigerians whose religious beliefs do not allow them to benefit from the Bank s housing products because of their interest based nature We believe the decision will engender a more inclusive mortgage system for a broader spectrum of Nigerians The MULAN president added that the association is ready and willing to partner with the FMBN towards ensuring a smooth implementation of the non interest housing products through the provision of relevant advisory services by its members He explained that FMBN developed the product to eliminate the challenges that eligible Nigerians who want to own their homes through the National Housing Fund NHF scheme face because of the interest based nature of the bank s existing housing products The product uses a rent to own model that allows beneficiaries to move into FMBN and non FMBN funded homes and conveniently pay towards full ownership using or annual rentals The product s financing structure is based on the non interest financing contract of Ijarah Muntahia Bitamleek Lease to Own he said Abikan noted that FMBN retains ownership of the property until the financing term ends or at any time during the lease period that the beneficiary wishes to purchase the property Receiving the MULAN team Mr Madu Hamman the Managing Executive of FMBN commended them for the visit while assuring of the bank s readiness to collaborate with the association towards ensuring a hitch free provision of the non interest housing product Hamman who was represented by the bank s Executive Director Loans and Mortgage Services Alhaji Lukman Mustapha observed that the FMBN non interest rent to own product is available to Nigerians who must be contributors to the NHF scheme He added that it covers both FMBN and non FMBN funded properties with a maximum price of N15 million Hamman explained that beneficiaries have the options to pay to own the property in or annual rental installments over 30 years depending on their age and years in service He encouraged members of MULAN to become ambassadors of the non interest rent to own product The FMBN boss advised the association to take the news outside of the association to other prospective home owners within their respective areas of influence and network NewsSourceCredit NAN
    Don commends FMBN over non-interest mortgage product
     Prof Abdulqadir Abikan the National President of Muslim Lawyers Association of Nigeria MULAN has commended the Federal Mortgage Bank of Nigeria FMBN for introducing Non Interest Rent to Own Housing Product to enable a broader spectrum of Nigerians own their homes According to the University of Ilorin Unilorin Bulletin issued on Monday Abikan made the commendation when he led a team of MULAN executive committee members on a courtesy visit to the FMBN Management Team at the Bank s Head office in Abuja Abikan who is also the immediate past Director of the School of Preliminary Studies Unilorin said the association received the news of FMBN s approval of the non interest rent to own product with extreme excitement This is because it provides an alternative mortgage scheme for many Nigerians whose religious beliefs do not allow them to benefit from the Bank s housing products because of their interest based nature We believe the decision will engender a more inclusive mortgage system for a broader spectrum of Nigerians The MULAN president added that the association is ready and willing to partner with the FMBN towards ensuring a smooth implementation of the non interest housing products through the provision of relevant advisory services by its members He explained that FMBN developed the product to eliminate the challenges that eligible Nigerians who want to own their homes through the National Housing Fund NHF scheme face because of the interest based nature of the bank s existing housing products The product uses a rent to own model that allows beneficiaries to move into FMBN and non FMBN funded homes and conveniently pay towards full ownership using or annual rentals The product s financing structure is based on the non interest financing contract of Ijarah Muntahia Bitamleek Lease to Own he said Abikan noted that FMBN retains ownership of the property until the financing term ends or at any time during the lease period that the beneficiary wishes to purchase the property Receiving the MULAN team Mr Madu Hamman the Managing Executive of FMBN commended them for the visit while assuring of the bank s readiness to collaborate with the association towards ensuring a hitch free provision of the non interest housing product Hamman who was represented by the bank s Executive Director Loans and Mortgage Services Alhaji Lukman Mustapha observed that the FMBN non interest rent to own product is available to Nigerians who must be contributors to the NHF scheme He added that it covers both FMBN and non FMBN funded properties with a maximum price of N15 million Hamman explained that beneficiaries have the options to pay to own the property in or annual rental installments over 30 years depending on their age and years in service He encouraged members of MULAN to become ambassadors of the non interest rent to own product The FMBN boss advised the association to take the news outside of the association to other prospective home owners within their respective areas of influence and network NewsSourceCredit NAN
    Don commends FMBN over non-interest mortgage product
    Economy2 weeks ago

    Don commends FMBN over non-interest mortgage product

    Prof. Abdulqadir Abikan, the National President of Muslim Lawyers Association of Nigeria (MULAN), has commended the Federal Mortgage Bank of Nigeria (FMBN) for introducing ‘Non-Interest Rent to Own Housing Product’ to enable a broader spectrum of Nigerians own their homes.According to the University of Ilorin (Unilorin) Bulletin issued on Monday, Abikan made the commendation when he led a team of MULAN executive committee members on a courtesy visit to the FMBN Management Team at the Bank’s Head office in Abuja.Abikan, who is also the immediate past Director of the School of Preliminary Studies, Unilorin, said the association received the news of FMBN’s approval of the non-interest rent-to-own product with extreme excitement.“This is because it provides an alternative mortgage scheme for many Nigerians whose religious beliefs do not allow them to benefit from the Bank’s housing products because of their interest-based nature.“We believe the decision will engender a more inclusive mortgage system for a broader spectrum of Nigerians.” The MULAN president added that the association is ready and willing to partner with the FMBN towards ensuring a smooth implementation of the non-interest housing products through the provision of relevant advisory services by its members.He explained that FMBN developed the product to eliminate the challenges that eligible Nigerians who want to own their homes through the National Housing Fund (NHF) scheme face because of the interest-based nature of the bank’s existing housing products.“The product uses a rent-to-own model that allows beneficiaries to move into FMBN and non-FMBN-funded homes and conveniently pay towards full ownership using or annual rentals.“The product’s financing structure is based on the non-interest financing contract of Ijarah Muntahia Bitamleek (Lease to Own),” he said.Abikan noted that FMBN retains ownership of the property until the financing term ends or at any time during the lease period that the beneficiary wishes to purchase the property.Receiving the MULAN team, Mr Madu Hamman, the Managing Executive of FMBN, commended them for the visit while assuring of the bank’s readiness to collaborate with the association towards ensuring a hitch-free provision of the non-interest housing product.Hamman, who was represented by the bank’s Executive Director, Loans and Mortgage Services, Alhaji Lukman Mustapha, observed that the FMBN non-interest rent-to-own product is available to Nigerians who must be contributors to the NHF scheme.He added that it covers both FMBN and non-FMBN-funded properties with a maximum price of N15 million.Hamman explained that beneficiaries have the options to pay to own the property in or annual rental installments over 30 years, depending on their age and years in service.He encouraged members of MULAN to become ambassadors of the non-interest rent-to-own product.The FMBN boss advised the association to take the news outside of the association to other prospective home owners within their respective areas of influence and network.NewsSourceCredit: NAN

  •   Appraising FG s interventions in housing sector Appraising FG s interventions in housing sector By Perpetua Onuegbu News Agency of Nigeria In the range of man s needs shelter comes next after air and food For dignity having a place to live becomes a priority in the hierarchy of necessities To this end the world over governments make meeting the housing needs of the citizenry a key factor in their agenda The present administration of President Muhammadu Buhari has taken certain steps to meet the housing needs of Nigerians by initiating the National Housing Programme NHP The government through the Ministry of Works and Housing initiated partnership with state governments and other stakeholders to develop and deliver affordable houses to Nigerians nationwide Although the target of ensuring that every Nigerian is properly housed has not been fully met the efforts of government have started yielding results A recent report by report on Nigeria s housing sector by Bank of Industry BOI estimates Nigeria s housing deficit at 28 million a figure that requires N21 trillion to address According to the report however N470 billion was what the Federal Government budgeted for housing in 2022 Experts say Nigeria will need to deliver one million housing units every year to bridge the gap Declaring the event open the Vice President Professor Yemi Osinbajo promised that the Federal Government would accelerate its housing programmes with pledging that the Federal Government would deliver over 50 000 homes by 2023 Osinbajo said this at this year s Africa International Housing show themed Housing For All The Role Of Governments In Creating An Effective Enabling Environment Part of the efforts to meet that target was witnessed in Kano in June when government officially handed over keys to four beneficiaries who have paid for houses built under the first phase of the National Housing Programme NHP in Kano Kano State The Minister of Works and Housing Mr Babatunde Fashola was represented by the Permanent Secretary Mr Bashir Alkali While we welcome those who can afford to pay outright it is not a condition for eligibility We have offered flexible payment options like Mortgages and Rent to Own which we encourage applicants to pursue Some of the requirements for qualification to access these include current passport photograph in JPEG or PNG format most recent copy of your current tax slip in PDF format Means of Identification National ID Driver license International Passport in digital JPEG format Letter of recommendation from any Primary Mortgage for Mortgage Subscribers and Evidence of 10 per cent initial payment deposit for Mortgage Subscribers only he said The beneficiaries today are therefore among the first set of Nigerians other than the 1994 Super Eagles who have been handed the keys to their houses promised by the Federal Government over 28years ago Also speaking Alkali represented by the Director Public Building and Housing Development Mr Solomon Labafilo said the philosophy behind the NHP was the provision of pilot scheme that is affordable accessible and acceptable in line with the National Housing Policy The approach to the design and use of materials take cognisance of the cultural and climatic peculiarities of the regions while responding also to the tenets of the Building Energy and Efficiency Code BEEC being championed by the ministry he said According to the Director Housing Building in the ministry Mr Solomon Labafilo government has delivered in 35 states of the federation and the FCT According to him the breakdown is as follows Phase 1 2728 Units Phase 2 2254 Units and Phase 3 964 Units totaling 5 946 Units He said another set of 2665 housing units available for subscription by the public through worksandhousing gov ng On its part the Federal Mortgage Bank of Nigeria FMBN said it has initiated Rent to Own housing scheme to enable everyone that is a contributor to the National Housing Fund NHF to be able to own a home of their own According to Mr Lawal K Sauri the General Manager Corporate Communication FMBN the Rent to Own housing product is an innovative affordable housing product which provides an easy and convenient payment plan towards homeownership for Nigerian workers FMBN developed the rent to own housing product as a strategic response to the inability of low income contributors to the National Housing Fund NHF scheme to meet the equity down payment requirement for accessing the NHF Mortgage loan To enhance affordability the rent to own product eliminates the need for a down payment The FMBN rent to own product makes it possible for Nigerians to move into FMBN funded homes located nationwide as tenants They pay for and own the property through monthly or yearly rent payments spread over periods of up to 30 years at best market single digit interest rate of 7 per cent on the price of the property on an annuity basis he said K Sauri also said that FMBN currently had over 3 190 housing units available for off take on a rent to own basis across several locations nationwide Some of these houses he said are located in FMBN funded estates in FCT Nasarawa Akwa Ibom Ondo Enugu Kogi Adamawa Sokoto Borno Jigawa Abia Katsina Ogun Kwara Kano Taraba Niger and Kaduna states You can visit them to confirm and also see the beneficiaries We currently are building mega cities in collaboration with some developers like Brain and Hammers About 1 200 housing units are almost completed which is funded by the bank at Jibi behind the police housing estate in Kubwa he said One of the beneficiaries of the housing interventions Mr Farouk Adamu who is a retired civil servant said the gesture had made ownership of houses easier for workers Anyone who says that he has used influence to obtain the house I will tell him it is not true We applied through the portal that the ministry opened We were lucky to be selected This is what Nigerians are waiting to see especially the less privilege citizens to get things without lobbying for them or having to know one big man or the other he said Another beneficiary the Manager of Spray well amp Finch Solutions Ltd Mr Henry Obi also said he got his allocation without having to lobbying any government official Although the Federal Government intervention has not provided housing for every Nigerian that needs it stakeholders say with the evident increased government s commitment thing will only get better for Nigeria If used please credit the author and News Agency of Nigeria NewsSourceCredit NAN
    Appraising FG’s interventions in housing sector
      Appraising FG s interventions in housing sector Appraising FG s interventions in housing sector By Perpetua Onuegbu News Agency of Nigeria In the range of man s needs shelter comes next after air and food For dignity having a place to live becomes a priority in the hierarchy of necessities To this end the world over governments make meeting the housing needs of the citizenry a key factor in their agenda The present administration of President Muhammadu Buhari has taken certain steps to meet the housing needs of Nigerians by initiating the National Housing Programme NHP The government through the Ministry of Works and Housing initiated partnership with state governments and other stakeholders to develop and deliver affordable houses to Nigerians nationwide Although the target of ensuring that every Nigerian is properly housed has not been fully met the efforts of government have started yielding results A recent report by report on Nigeria s housing sector by Bank of Industry BOI estimates Nigeria s housing deficit at 28 million a figure that requires N21 trillion to address According to the report however N470 billion was what the Federal Government budgeted for housing in 2022 Experts say Nigeria will need to deliver one million housing units every year to bridge the gap Declaring the event open the Vice President Professor Yemi Osinbajo promised that the Federal Government would accelerate its housing programmes with pledging that the Federal Government would deliver over 50 000 homes by 2023 Osinbajo said this at this year s Africa International Housing show themed Housing For All The Role Of Governments In Creating An Effective Enabling Environment Part of the efforts to meet that target was witnessed in Kano in June when government officially handed over keys to four beneficiaries who have paid for houses built under the first phase of the National Housing Programme NHP in Kano Kano State The Minister of Works and Housing Mr Babatunde Fashola was represented by the Permanent Secretary Mr Bashir Alkali While we welcome those who can afford to pay outright it is not a condition for eligibility We have offered flexible payment options like Mortgages and Rent to Own which we encourage applicants to pursue Some of the requirements for qualification to access these include current passport photograph in JPEG or PNG format most recent copy of your current tax slip in PDF format Means of Identification National ID Driver license International Passport in digital JPEG format Letter of recommendation from any Primary Mortgage for Mortgage Subscribers and Evidence of 10 per cent initial payment deposit for Mortgage Subscribers only he said The beneficiaries today are therefore among the first set of Nigerians other than the 1994 Super Eagles who have been handed the keys to their houses promised by the Federal Government over 28years ago Also speaking Alkali represented by the Director Public Building and Housing Development Mr Solomon Labafilo said the philosophy behind the NHP was the provision of pilot scheme that is affordable accessible and acceptable in line with the National Housing Policy The approach to the design and use of materials take cognisance of the cultural and climatic peculiarities of the regions while responding also to the tenets of the Building Energy and Efficiency Code BEEC being championed by the ministry he said According to the Director Housing Building in the ministry Mr Solomon Labafilo government has delivered in 35 states of the federation and the FCT According to him the breakdown is as follows Phase 1 2728 Units Phase 2 2254 Units and Phase 3 964 Units totaling 5 946 Units He said another set of 2665 housing units available for subscription by the public through worksandhousing gov ng On its part the Federal Mortgage Bank of Nigeria FMBN said it has initiated Rent to Own housing scheme to enable everyone that is a contributor to the National Housing Fund NHF to be able to own a home of their own According to Mr Lawal K Sauri the General Manager Corporate Communication FMBN the Rent to Own housing product is an innovative affordable housing product which provides an easy and convenient payment plan towards homeownership for Nigerian workers FMBN developed the rent to own housing product as a strategic response to the inability of low income contributors to the National Housing Fund NHF scheme to meet the equity down payment requirement for accessing the NHF Mortgage loan To enhance affordability the rent to own product eliminates the need for a down payment The FMBN rent to own product makes it possible for Nigerians to move into FMBN funded homes located nationwide as tenants They pay for and own the property through monthly or yearly rent payments spread over periods of up to 30 years at best market single digit interest rate of 7 per cent on the price of the property on an annuity basis he said K Sauri also said that FMBN currently had over 3 190 housing units available for off take on a rent to own basis across several locations nationwide Some of these houses he said are located in FMBN funded estates in FCT Nasarawa Akwa Ibom Ondo Enugu Kogi Adamawa Sokoto Borno Jigawa Abia Katsina Ogun Kwara Kano Taraba Niger and Kaduna states You can visit them to confirm and also see the beneficiaries We currently are building mega cities in collaboration with some developers like Brain and Hammers About 1 200 housing units are almost completed which is funded by the bank at Jibi behind the police housing estate in Kubwa he said One of the beneficiaries of the housing interventions Mr Farouk Adamu who is a retired civil servant said the gesture had made ownership of houses easier for workers Anyone who says that he has used influence to obtain the house I will tell him it is not true We applied through the portal that the ministry opened We were lucky to be selected This is what Nigerians are waiting to see especially the less privilege citizens to get things without lobbying for them or having to know one big man or the other he said Another beneficiary the Manager of Spray well amp Finch Solutions Ltd Mr Henry Obi also said he got his allocation without having to lobbying any government official Although the Federal Government intervention has not provided housing for every Nigerian that needs it stakeholders say with the evident increased government s commitment thing will only get better for Nigeria If used please credit the author and News Agency of Nigeria NewsSourceCredit NAN
    Appraising FG’s interventions in housing sector
    Features3 weeks ago

    Appraising FG’s interventions in housing sector

    Appraising FG’s interventions in housing sector Appraising FG’s interventions in housing sector By Perpetua Onuegbu, News Agency of Nigeria In the range of man’s needs, shelter comes next after air and food.

    For dignity, having a place to live becomes a priority in the hierarchy of necessities.

    To this end, the world over, governments make meeting the housing needs of the citizenry a key factor in their agenda.

    The present administration of President Muhammadu Buhari, has taken certain steps to meet the housing needs of Nigerians by initiating the National Housing Programme (NHP).

    The government, through the Ministry of Works and Housing, initiated partnership with state governments and other stakeholders to develop and deliver affordable houses to Nigerians nationwide.

    Although, the target of ensuring that every Nigerian is properly housed has not been fully met, the efforts of government have started yielding results.

    A recent report by report on Nigeria’s housing sector by Bank of Industry (BOI) estimates Nigeria’s housing deficit at 28 million, a figure that requires N21 trillion to address.

    According to the report, however, N470 billion was what the Federal Government budgeted for housing in 2022. Experts say Nigeria will need to deliver one million housing units every year to bridge the gap.

    Declaring the event open, the Vice-President, Professor Yemi Osinbajo, promised that the Federal Government would accelerate its housing programmes, with pledging that the Federal Government would deliver over 50,000 homes by 2023. Osinbajo said this at this year’s Africa International Housing show themed: “Housing For All, The Role Of Governments In Creating An Effective Enabling Environment”.

    Part of the efforts to meet that target was witnessed in Kano in June when government officially handed over keys to four beneficiaries who have paid for houses built under the first phase of the National Housing Programme (NHP) in Kano, Kano State.

    The Minister of Works and Housing, Mr Babatunde Fashola, was represented by the Permanent Secretary, Mr Bashir Alkali.

    “While we welcome those who can afford to pay outright, it is not a condition for eligibility.

    “We have offered flexible payment options like Mortgages and Rent-to-Own which we encourage applicants to pursue.

    “Some of the requirements for qualification to access these include – current passport photograph in JPEG or PNG format; most recent copy of your current tax slip in PDF format.

    “Means of Identification (National ID, Driver license, International Passport) in digital JPEG format; Letter of recommendation from any Primary Mortgage (for Mortgage Subscribers) and Evidence of 10 per cent initial payment deposit (for Mortgage Subscribers only),” he said.

    “The beneficiaries today are therefore among the first set of Nigerians other than the 1994 Super Eagles who have been handed the keys to their houses promised by the Federal Government over 28years ago.

    ” Also speaking, Alkali, represented by the Director, Public Building and Housing Development, Mr Solomon Labafilo, said the philosophy behind the NHP was the provision of pilot scheme that is affordable, accessible and acceptable in line with the National Housing Policy.

    “The approach to the design and use of materials take cognisance of the cultural and climatic peculiarities of the regions, while responding also to the tenets of the Building Energy and Efficiency Code (BEEC) being championed by the ministry,” he said.

    According to the Director, Housing Building in the ministry, Mr Solomon Labafilo, government has delivered in 35 states of the federation and the FCT.

    According to him, the breakdown is as follows: Phase 1 = 2728 Units, Phase 2 = 2254 Units and Phase 3 = 964 Units, totaling 5,946 Units.

    He said another set of 2665 housing units available for subscription by the public through: .

    worksandhousing.

    gov.

    ng.

    On its part, the Federal Mortgage Bank of Nigeria (FMBN) said  it has initiated Rent-to-Own housing scheme to enable everyone that is a contributor to the National Housing Fund (NHF) to be able to own a home of their own.

    According to Mr Lawal K-Sauri, the General Manager, Corporate Communication, FMBN, the Rent-to-Own housing product is an innovative affordable housing product, which provides an easy and convenient payment plan towards homeownership for Nigerian workers.

    “FMBN developed the rent-to-own housing product as a strategic response to the inability of low income contributors to the National Housing Fund (NHF) scheme to meet the equity down payment requirement for accessing the NHF Mortgage loan.

    “To enhance affordability, the rent-to-own product eliminates the need for a down payment.

    The FMBN rent-to-own product makes it possible for Nigerians to move into FMBN funded homes – located nationwide – as tenants.

    “They pay for and own the property through monthly or yearly rent payments spread over periods of up to 30-years at best market single-digit interest rate of 7 per cent on the price of the property on an annuity basis,” he said.

    K-Sauri also said that FMBN currently had over 3,190 housing units available for off-take on a rent-to-own basis across several locations nationwide.

    Some of these houses, he said are located in FMBN-funded estates in FCT Nasarawa Akwa Ibom, Ondo Enugu, Kogi, Adamawa, Sokoto, Borno, Jigawa, Abia, Katsina, Ogun, Kwara, Kano, Taraba, Niger and Kaduna states.

    “You can visit them to confirm and also see the beneficiaries.

    We currently are building mega cities in collaboration with some developers like Brain and Hammers.

    “About 1,200 housing units are almost completed which is funded by the bank at Jibi behind the police housing estate in Kubwa,’’ he said.

    One of the beneficiaries of the housing interventions, Mr Farouk Adamu, who is a retired civil servant, said the gesture had made ownership of houses easier for workers.

    “Anyone who says that he has used influence to obtain the house I will tell him it is not true.

    We applied through the portal that the ministry opened.

    We were lucky to be selected.

    “This is what Nigerians are waiting to see, especially the less privilege citizens to get things without lobbying for them or having to know one big man or the other,” he said.

    Another beneficiary, the Manager of Spray well & Finch Solutions Ltd., Mr Henry Obi also said he got his allocation without having to lobbying any government official.

    Although the Federal Government intervention has not provided housing for every Nigerian that needs it, stakeholders say with the evident increased government’s commitment, thing will only get better for Nigeria.

    ****If used please credit the author and News Agency of Nigeria.


    NewsSourceCredit: NAN

  •  Contributors to the National Housing Fund NHF Scheme in Northwest have demanded the easing of conditions for securing housing loan under the Scheme News Agency of Nigeria reports that the NHF Scheme was introduced by the Federal Government to enable Contributors to the Fund mostly civil servants secure flexible loan to enable them build their own houses Speaking to NAN in Kaduna Kano Sokoto Kebbi Zamfara and Katsina states stakeholders advocated a complete review of the Scheme to serve the purpose for which it was initiated or in the alternative scrap it completely They argued that not only was the process of securing loan too cumbersome the requirements were hardly met by majority of civil servants thereby defeating the laudable objectives of the Scheme Aliyu Musa a retired Federal civil servant in Gusau said there was need for the review of the Scheme for its objectives to be achieved All the years I spent in the Federal Civil Service I could not secure a house despite all the contributions I made from my salary I think the essence of the Scheme is to mobilise long term funds to address the problem of inability of Nigerian workers to secure houses of their own but honestly the objective is not being achieved fully he observed Another Contributor to the Fund in Gusau Alhaji Abubakar Usman lamented that securing access to NHF facilities was always a herculean task and therefore called on the Federal Government to restructure the Scheme to make things easy A widow in Gusau Maryam Adeniyi also made similar call recollecting how her late husband who was a Contributor could not access the housing loan in spite of all efforts She lamented that even the process of recovering his accumulated NHF savings after his death was cumbersome adding that the money had remained stuck Malam Musa Lemu a retired Federal civil servant in Sokoto described the NHF Scheme as a laudable programme that enabled workers to own houses easily He however lamented that the process of securing loan was tedious thereby depriving the Scheme of the advantages derivable from its implementation According to him he retired two years ago but is still struggling to get his savings refunded Malam Adamu Suleiman a staff of Federal Ministry of Information Sokoto told NAN that he received alerts on deductions in respect of his NHF savings in peace meal He said when he approached Sokoto Office of Mortgage Bank for housing loan he was told that only headquarters of the bank could process same He suggested the introduction of seamless contribution and reconciliation process that would encourage more voluntary participation in the Scheme Usman Shehu of the Nigeria Television Authority NTA Birnin Kebbi lamented that administrative bottlenecks had hindered the full realization of the benefits of the Scheme Scarcity of the application forms superfluous and discouraging requirements and processes are issues that need to be addressed for the Scheme to record maximum success there is need for constant sensitisation on how the system operates he suggested In his contribution Alhaji Hamisu Abubakar of National Orientation Agency NOA Birnin Kebbi observed that civil servants benefiting from the Scheme were negligible and therefore called for its scrapping As far as I am concerned the Scheme is a failure some people are using the funds for their benefits at the expense of Nigerian workers the Scheme should be scrapped he insisted Arguing along the same line Mohammed Iliyasu of Federal Medical Centre FMC Birnin Kebbi alleged that the Scheme was bedeviled by insincerity and corruption just as he acknowledged that the motive for initiating it was laudable He suggested that it either be reviewed or scrapped Meanwhile in Katsina State some stakeholders expressed dissatisfaction saying the Scheme had not served the purpose for which it was initiated noting that conditions for securing loan were stringent Malam Yusuf Abdulkarim of the Federal Ministry of Trade and Investment Katsina office said the scheme was not living up to the expectations of the Contributors On her part Mrs Uwani Rabe advised Federal Government to fine tune the Scheme for it to have the desired impact just as she also noted that conditions for securing loan were stringent I tried to secure the loan but did not succeed despite my contributions to the Scheme so I gave up and since then I developed negative feelings about NHF she said Also another respondent in Katsina Malam Ibrahim Danlagos suggested that participation in the Scheme be made optional Participation should not be made compulsory for civil servants rather it should be optional the way it is now its like workers are being coerced to contribute which should not be so he said Some residents of Kaduna also decried lack of easy access to loan facilities of NHF saying the procedure involved in securing same was cumbersome Residents who spoke to a NAN correspondent in Kaduna said the conditions to be met to access the loan were difficult to satisfy Mrs Larai Usman a civil servant said she filled a housing loan form from NHF two years ago but was yet to get any positive response I am told the loan takes two to six months to process if one is lucky our names were compiled and a few forms were brought to us at the office but as we speak two years have passed with no response she said Mr Danjuma Jato a teacher in Kaduna said he once attempted to secure the loan but could not succeed Jato said the requirements for securing the the facilities were rather stringent saying his application was rejected because he was still servicing a loan from a commercial bank Some of the requirements should be reviewed to make it flexible for everyone he said Also Mrs Rose Ishaku an entrepreneur said she had been approached by a private Estate Developer but was told she would have to make payment of N500 000 as part of the requirements The Estate Developer said they collaborate with FMBN and process loans for interested individuals but the initial payment and monthly remittance is quite high she said She urged the Federal Government to review the conditions for securing the loan to enable eligible Nigerians benefit from the Scheme On his part Mr Felix Ayina a civil servant in Kaduna said although he had been contributing to the Fund his salary was to meagre to meet family needs as such securing any loan would be an additional burden on him Making the same appeal some civil servants in Kano state urged the Federal Government to restructure the Scheme in order to reduce the bureaucracy involved in accessing housing loan They also requested that the process of refund of the accumulated NHF money to retired civil servants be simplified NewsSourceCredit NAN
    NHF: Northwest Contributors demand easing of conditions for securing housing loan
     Contributors to the National Housing Fund NHF Scheme in Northwest have demanded the easing of conditions for securing housing loan under the Scheme News Agency of Nigeria reports that the NHF Scheme was introduced by the Federal Government to enable Contributors to the Fund mostly civil servants secure flexible loan to enable them build their own houses Speaking to NAN in Kaduna Kano Sokoto Kebbi Zamfara and Katsina states stakeholders advocated a complete review of the Scheme to serve the purpose for which it was initiated or in the alternative scrap it completely They argued that not only was the process of securing loan too cumbersome the requirements were hardly met by majority of civil servants thereby defeating the laudable objectives of the Scheme Aliyu Musa a retired Federal civil servant in Gusau said there was need for the review of the Scheme for its objectives to be achieved All the years I spent in the Federal Civil Service I could not secure a house despite all the contributions I made from my salary I think the essence of the Scheme is to mobilise long term funds to address the problem of inability of Nigerian workers to secure houses of their own but honestly the objective is not being achieved fully he observed Another Contributor to the Fund in Gusau Alhaji Abubakar Usman lamented that securing access to NHF facilities was always a herculean task and therefore called on the Federal Government to restructure the Scheme to make things easy A widow in Gusau Maryam Adeniyi also made similar call recollecting how her late husband who was a Contributor could not access the housing loan in spite of all efforts She lamented that even the process of recovering his accumulated NHF savings after his death was cumbersome adding that the money had remained stuck Malam Musa Lemu a retired Federal civil servant in Sokoto described the NHF Scheme as a laudable programme that enabled workers to own houses easily He however lamented that the process of securing loan was tedious thereby depriving the Scheme of the advantages derivable from its implementation According to him he retired two years ago but is still struggling to get his savings refunded Malam Adamu Suleiman a staff of Federal Ministry of Information Sokoto told NAN that he received alerts on deductions in respect of his NHF savings in peace meal He said when he approached Sokoto Office of Mortgage Bank for housing loan he was told that only headquarters of the bank could process same He suggested the introduction of seamless contribution and reconciliation process that would encourage more voluntary participation in the Scheme Usman Shehu of the Nigeria Television Authority NTA Birnin Kebbi lamented that administrative bottlenecks had hindered the full realization of the benefits of the Scheme Scarcity of the application forms superfluous and discouraging requirements and processes are issues that need to be addressed for the Scheme to record maximum success there is need for constant sensitisation on how the system operates he suggested In his contribution Alhaji Hamisu Abubakar of National Orientation Agency NOA Birnin Kebbi observed that civil servants benefiting from the Scheme were negligible and therefore called for its scrapping As far as I am concerned the Scheme is a failure some people are using the funds for their benefits at the expense of Nigerian workers the Scheme should be scrapped he insisted Arguing along the same line Mohammed Iliyasu of Federal Medical Centre FMC Birnin Kebbi alleged that the Scheme was bedeviled by insincerity and corruption just as he acknowledged that the motive for initiating it was laudable He suggested that it either be reviewed or scrapped Meanwhile in Katsina State some stakeholders expressed dissatisfaction saying the Scheme had not served the purpose for which it was initiated noting that conditions for securing loan were stringent Malam Yusuf Abdulkarim of the Federal Ministry of Trade and Investment Katsina office said the scheme was not living up to the expectations of the Contributors On her part Mrs Uwani Rabe advised Federal Government to fine tune the Scheme for it to have the desired impact just as she also noted that conditions for securing loan were stringent I tried to secure the loan but did not succeed despite my contributions to the Scheme so I gave up and since then I developed negative feelings about NHF she said Also another respondent in Katsina Malam Ibrahim Danlagos suggested that participation in the Scheme be made optional Participation should not be made compulsory for civil servants rather it should be optional the way it is now its like workers are being coerced to contribute which should not be so he said Some residents of Kaduna also decried lack of easy access to loan facilities of NHF saying the procedure involved in securing same was cumbersome Residents who spoke to a NAN correspondent in Kaduna said the conditions to be met to access the loan were difficult to satisfy Mrs Larai Usman a civil servant said she filled a housing loan form from NHF two years ago but was yet to get any positive response I am told the loan takes two to six months to process if one is lucky our names were compiled and a few forms were brought to us at the office but as we speak two years have passed with no response she said Mr Danjuma Jato a teacher in Kaduna said he once attempted to secure the loan but could not succeed Jato said the requirements for securing the the facilities were rather stringent saying his application was rejected because he was still servicing a loan from a commercial bank Some of the requirements should be reviewed to make it flexible for everyone he said Also Mrs Rose Ishaku an entrepreneur said she had been approached by a private Estate Developer but was told she would have to make payment of N500 000 as part of the requirements The Estate Developer said they collaborate with FMBN and process loans for interested individuals but the initial payment and monthly remittance is quite high she said She urged the Federal Government to review the conditions for securing the loan to enable eligible Nigerians benefit from the Scheme On his part Mr Felix Ayina a civil servant in Kaduna said although he had been contributing to the Fund his salary was to meagre to meet family needs as such securing any loan would be an additional burden on him Making the same appeal some civil servants in Kano state urged the Federal Government to restructure the Scheme in order to reduce the bureaucracy involved in accessing housing loan They also requested that the process of refund of the accumulated NHF money to retired civil servants be simplified NewsSourceCredit NAN
    NHF: Northwest Contributors demand easing of conditions for securing housing loan
    General news1 month ago

    NHF: Northwest Contributors demand easing of conditions for securing housing loan

    Contributors to the National Housing Fund (NHF) Scheme in Northwest have demanded the easing of conditions for securing housing loan under the Scheme.

    News Agency of Nigeria reports that the NHF Scheme was introduced by the Federal Government to enable Contributors to the Fund, mostly civil servants, secure flexible loan to enable them build their own houses.

    Speaking to NAN in Kaduna, Kano, Sokoto, Kebbi, Zamfara and Katsina states, stakeholders advocated a complete review of the Scheme to serve the purpose for which it was initiated, or in the alternative, scrap it completely.

    They argued that not only was the process of securing loan too cumbersome, the requirements were hardly met by majority of civil servants, thereby defeating the laudable objectives of the Scheme.

    Aliyu Musa, a retired Federal civil servant in Gusau, said there was need for the review of the Scheme for its objectives to be achieved.

    “All the years I spent in the Federal Civil Service, I could not secure a house despite all the contributions I made from my salary.

    “I think the essence of the Scheme is to mobilise long-term funds to address the problem of inability of Nigerian workers to secure houses of their own, but honestly, the objective is not being achieved fully”, he observed.

    Another Contributor to the Fund in Gusau, Alhaji Abubakar Usman, lamented that securing access to NHF facilities was always a herculean task, and therefore called on the Federal Government to restructure the Scheme to make things easy.

    A widow in Gusau, Maryam Adeniyi, also made similar call, recollecting how her late husband who was a Contributor could not access the housing loan in spite of all efforts.

    She lamented that even the process of recovering his accumulated NHF savings after his death, was cumbersome, adding that the money had remained stuck.

    Malam Musa Lemu, a retired Federal civil servant in Sokoto, described the NHF Scheme as a laudable programme that enabled workers to own houses easily.

    He however lamented that the process of securing loan was tedious, thereby depriving the Scheme of the advantages derivable from its implementation.

    According to him, he retired two years ago but is still struggling to get his savings refunded.

    Malam Adamu Suleiman, a staff of Federal Ministry of Information, Sokoto, told NAN that he received alerts on deductions in respect of his NHF savings in peace-meal.

    He said when he approached Sokoto Office of Mortgage Bank for housing loan, he was told that only headquarters of the bank could process same.

    He suggested the introduction of seamless contribution and reconciliation process that would encourage more voluntary participation in the Scheme.

    Usman Shehu of the Nigeria Television Authority (NTA), Birnin Kebbi, lamented that administrative bottlenecks had hindered the full realization of the benefits of the Scheme.

    “Scarcity of the application forms, superfluous and discouraging requirements and processes are issues that need to be addressed for the Scheme to record maximum success; there is need for constant sensitisation on how the system operates,” he suggested.

    In his contribution, Alhaji Hamisu Abubakar of National Orientation Agency (NOA), Birnin Kebbi, observed that civil servants benefiting from the Scheme were negligible, and therefore called for its scrapping.

    As far as I am concerned, the Scheme is a failure; some people are using the funds for their benefits at the expense of Nigerian workers; the Scheme should be scrapped”, he insisted.

    Arguing along the same line, Mohammed Iliyasu of Federal Medical Centre (FMC), Birnin Kebbi, alleged that the Scheme was bedeviled by insincerity and corruption, just as he acknowledged that the motive for initiating it, was laudable.

    He suggested that it either be reviewed, or scrapped.

    Meanwhile in Katsina State, some stakeholders expressed dissatisfaction, saying the Scheme had not served the purpose for which it was initiated, noting that conditions for securing loan were stringent.

    Malam Yusuf Abdulkarim of the Federal Ministry of Trade and Investment, Katsina office, said the scheme was not living up to the expectations of the Contributors.

    On her part, Mrs Uwani Rabe advised Federal Government to fine-tune the Scheme for it to have the desired impact, just as she also noted that conditions for securing loan were stringent.

    “I tried to secure the loan but did not succeed despite my contributions to the Scheme, so I gave up, and since then, I developed negative feelings about NHF”, she said.

    Also, another respondent in Katsina, Malam Ibrahim Danlagos, suggested that participation in the Scheme be made optional.

    “Participation should not be made compulsory for civil servants, rather, it should be optional; the way it is now, its like workers are being coerced to contribute, which should not be so”, he said.

    Some residents of Kaduna also decried lack of easy access to loan facilities of NHF, saying the procedure involved in securing same, was cumbersome.

    Residents who spoke to a NAN correspondent in Kaduna, said the conditions to be met to access the loan, were difficult to satisfy.

    Mrs Larai Usman, a civil servant, said she filled a housing loan form from NHF two years ago, but was yet to get any positive response.

    “I am told the loan takes two to six months to process if one is lucky; our names were compiled and a few forms were brought to us at the office but as we speak, two years have passed with no response,” she said.

    Mr Danjuma Jato, a teacher in Kaduna, said he once attempted to secure the loan but could not succeed.

    Jato said the requirements for securing the the facilities were rather stringent, saying his application was rejected because he was still servicing a loan from a commercial bank.

    “Some of the requirements should be reviewed to make it flexible for everyone,” he said.

    Also, Mrs Rose Ishaku, an entrepreneur, said she had been approached by a private Estate Developer, but was told she would have to make payment of N500,000 as part of the requirements.

    “The Estate Developer said they collaborate with FMBN and process loans for interested individuals, but the initial payment and monthly remittance is quite high”, she said.

    She urged the Federal Government to review the conditions for securing the loan to enable eligible Nigerians benefit from the Scheme.

    On his part, Mr Felix Ayina, a civil servant in Kaduna, said although he had been contributing to the Fund, his salary was to meagre to meet family needs, as such securing any loan would be an additional burden on him.

    Making the same appeal, some civil servants in Kano state urged the Federal Government to restructure the Scheme in order to reduce the bureaucracy involved in accessing housing loan.

    They also requested that the process of refund of the accumulated NHF money to retired civil servants, be simplified.


    NewsSourceCredit: NAN

  •  Mr Isaac Ighure a former Editor in Chief of the News Agency of Nigeria has called for more enlightenment for civil servants on the National Housing Fund for more workers benefit from the scheme Ighure a retired civil servant in a telephone interview with NAN on Saturday in Lagos also called for review of mortgage policies due to inflation to accommodate low income civil servants He said he retired seven years ago but had to use heavy interest commercial bank loans while in service to purchase a government bungalow in Abuja because of inadequate information He lamented that upon completion of 35 years of meritorious service to the nation he got an NHF refund of about N500 which he joked could hardly buy good quality pepper soup He said that the explanation offered for his low refund was that deductions from his NHF contributions were stopped because he became a director Later I gathered that I didn t ask them to continue deductions because Executive Director level is supposed to be either administrative or political So once you climb above director they stop deductions I didn t know about that At the end of the day what I got after 35 years was five hundred and something Naira What can N500 buy for you now he queried He said it was difficult during his service years to access Federal Mortgage Bank of Nigeria FMBN loans adding that many people are not even aware of what to do under the NHF Government needs to create more awareness and maybe educate or enlighten workers on the benefits of the fund It would have been okay to raise the value of monthly deductions but with the value of the salary and the worthlessness of the salary now the purchasing power is weak so if you now jerk up the deductions it is going to further weaken the purchasing power of workers Although the objective is laudable to enjoy it you have to live to enjoy the benefits Government has to think of what to do to make it easier for workers to afford their own accommodation he said He lamented the skyrocketing prices of construction materials and land which had further weakened ability of workers to build their homes unlike in the past where civil servants could build gradually He called for longer term and low interest mortgages which were used in other advanced countries but not working in Nigeria Workers are heavily disadvantaged when it comes to housing Every worker needs housing even when government builds some of these low cost housing the rich buy them up and give out on rent at exorbitant rates he said Narrating his ordeal Mr Deji Idowu a retired broadcaster from the Nigerian Television Authority NTA told NAN the NHF programme of government was shrouded in a lot of secrecy that promoted fraud Idowu said he retired from NTA at the age of 57 after 35 years in service but was told he could not get refund of his contributions until his 60th birthday He said he Joined NTA in 1983 and his contemporaries who retired at 60 got between N500 000 and N600 000 as refund for their NHF contributions after 35 long years in service He said upon turning 60 he returned to collect his refund and was stalled by bureaucracy He said he was supposed to process payment through NTA s in house mortgage institution but was given impossible conditions to make available pay slips of about 10 years and other inaccessible documents Next they said is that I should go and bring my passbook I am supposed to have a passbook with NTA I went there to finance they said they can t find my passbook he said He queried why civil servants should be ones to supply records that should be domiciled in the budget and finance ministries of the Federal Government or IPPIS He said the NHF deductions from workers salaries like the pension funds were not just sitting idle but were being invested and queried why workers did not get profit on contributions Idowu now a lecturer in the University of Lagos said that NTA staff could not benefit from the FMBN loans because they were told their poor salary structure disqualified them The former broadcaster called for more transparency and awareness on the scheme while civil servants should be paid better wages to benefit from NHF Some serving federal civil servants who spoke on conditions of anomity said they did not understand the housing policies of the government One of the civil servants said that she benefited recently from a N5 million loan under the FISH scheme operated by the office of the Head of Service We don t understand anything but whenever they bring forms for any housing loan or scheme I just key into it I have filled countless forms in the past until the last one that I got N5 million to build my own house They said the FISH Federal Integrated Staff Housing Programme scheme is under the office of Head of Service she said NewsSourceCredit NAN
    Civil servants task FG on adequate sensitisation, transparency on NHF
     Mr Isaac Ighure a former Editor in Chief of the News Agency of Nigeria has called for more enlightenment for civil servants on the National Housing Fund for more workers benefit from the scheme Ighure a retired civil servant in a telephone interview with NAN on Saturday in Lagos also called for review of mortgage policies due to inflation to accommodate low income civil servants He said he retired seven years ago but had to use heavy interest commercial bank loans while in service to purchase a government bungalow in Abuja because of inadequate information He lamented that upon completion of 35 years of meritorious service to the nation he got an NHF refund of about N500 which he joked could hardly buy good quality pepper soup He said that the explanation offered for his low refund was that deductions from his NHF contributions were stopped because he became a director Later I gathered that I didn t ask them to continue deductions because Executive Director level is supposed to be either administrative or political So once you climb above director they stop deductions I didn t know about that At the end of the day what I got after 35 years was five hundred and something Naira What can N500 buy for you now he queried He said it was difficult during his service years to access Federal Mortgage Bank of Nigeria FMBN loans adding that many people are not even aware of what to do under the NHF Government needs to create more awareness and maybe educate or enlighten workers on the benefits of the fund It would have been okay to raise the value of monthly deductions but with the value of the salary and the worthlessness of the salary now the purchasing power is weak so if you now jerk up the deductions it is going to further weaken the purchasing power of workers Although the objective is laudable to enjoy it you have to live to enjoy the benefits Government has to think of what to do to make it easier for workers to afford their own accommodation he said He lamented the skyrocketing prices of construction materials and land which had further weakened ability of workers to build their homes unlike in the past where civil servants could build gradually He called for longer term and low interest mortgages which were used in other advanced countries but not working in Nigeria Workers are heavily disadvantaged when it comes to housing Every worker needs housing even when government builds some of these low cost housing the rich buy them up and give out on rent at exorbitant rates he said Narrating his ordeal Mr Deji Idowu a retired broadcaster from the Nigerian Television Authority NTA told NAN the NHF programme of government was shrouded in a lot of secrecy that promoted fraud Idowu said he retired from NTA at the age of 57 after 35 years in service but was told he could not get refund of his contributions until his 60th birthday He said he Joined NTA in 1983 and his contemporaries who retired at 60 got between N500 000 and N600 000 as refund for their NHF contributions after 35 long years in service He said upon turning 60 he returned to collect his refund and was stalled by bureaucracy He said he was supposed to process payment through NTA s in house mortgage institution but was given impossible conditions to make available pay slips of about 10 years and other inaccessible documents Next they said is that I should go and bring my passbook I am supposed to have a passbook with NTA I went there to finance they said they can t find my passbook he said He queried why civil servants should be ones to supply records that should be domiciled in the budget and finance ministries of the Federal Government or IPPIS He said the NHF deductions from workers salaries like the pension funds were not just sitting idle but were being invested and queried why workers did not get profit on contributions Idowu now a lecturer in the University of Lagos said that NTA staff could not benefit from the FMBN loans because they were told their poor salary structure disqualified them The former broadcaster called for more transparency and awareness on the scheme while civil servants should be paid better wages to benefit from NHF Some serving federal civil servants who spoke on conditions of anomity said they did not understand the housing policies of the government One of the civil servants said that she benefited recently from a N5 million loan under the FISH scheme operated by the office of the Head of Service We don t understand anything but whenever they bring forms for any housing loan or scheme I just key into it I have filled countless forms in the past until the last one that I got N5 million to build my own house They said the FISH Federal Integrated Staff Housing Programme scheme is under the office of Head of Service she said NewsSourceCredit NAN
    Civil servants task FG on adequate sensitisation, transparency on NHF
    General news1 month ago

    Civil servants task FG on adequate sensitisation, transparency on NHF

    Mr Isaac Ighure, a former Editor-in-Chief of the News Agency of Nigeria , has called for more enlightenment for civil servants on the National Housing Fund for more workers’ benefit from the scheme.  

    Ighure, a retired civil servant, in a telephone interview with NAN on Saturday in Lagos, also called for review of mortgage policies due to inflation to accommodate low income civil servants.  

    He said he retired seven years ago but had to use heavy interest commercial bank loans while in service to purchase a government bungalow in Abuja because of inadequate information.  

    He lamented that upon completion of 35 years of meritorious service to the nation, he got an NHF refund of about N500 which he joked could hardly buy good quality pepper soup.  

    He said that the explanation offered for his low refund was that deductions from his NHF contributions were stopped because he became a director.  

    “Later I gathered that I didn’t ask them to continue deductions because Executive Director level is supposed to be either administrative or political.

    So, once you climb above director, they stop deductions, I didn’t know about that.  

    “At the end of the day, what I got after 35 years was five hundred and something Naira, What can N500 buy for you now,’’ he queried.  

    He said it was difficult during his service years to access Federal Mortgage Bank of Nigeria (FMBN) loans, adding that “many people are not even aware of what to do under the NHF’’.  

    “Government needs to create more awareness and maybe educate or enlighten workers on the benefits of the fund.  

    “It would have been okay to raise the value of monthly deductions but with the value of the salary and the worthlessness of the salary now, the purchasing power is weak, so if you now jerk up the deductions it is going to further weaken the purchasing power of workers.  

    “Although, the objective is laudable, to enjoy it you have to live to enjoy the benefits.

    Government has to think of what to do to make it easier for workers to afford their own accommodation,’’ he said.  

    He lamented the skyrocketing prices of construction materials and land which had further weakened ability of workers to build their homes unlike in the past where civil servants could build gradually.  

    He called for longer term and low interest mortgages which were used in other advanced countries but not working in Nigeria.  

    “Workers are heavily disadvantaged when it comes to housing.

    Every worker needs housing, even when government builds some of these low cost housing, the rich buy them up and give out on rent at exorbitant rates,’’ he said.  

    Narrating his ordeal, Mr Deji Idowu, a retired broadcaster from the Nigerian Television Authority (NTA) told NAN the NHF programme of government was shrouded in a lot of secrecy that promoted fraud.  

    Idowu said he retired from NTA at the age of 57 after 35 years in service but was told he could not get refund of his contributions until his 60th birthday.  

    He said he Joined NTA in 1983 and his contemporaries who retired at 60 got between N500,000 and N600,000 as refund for their NHF contributions after 35 long years in service.  

    He said upon turning 60, he returned to collect his refund and was stalled by bureaucracy.  

    He said he was supposed to process payment through NTA’s in house mortgage institution but was given impossible conditions to make available pay slips of about 10 years and other inaccessible documents.  

    “Next, they said is that I should go and bring my passbook.

    I am supposed to have a passbook with NTA.

    I went there to finance, they said they can’t find my passbook,’’ he said.  

    He queried why civil servants should be ones to supply records that should be domiciled in the budget and finance ministries of the Federal Government or IPPIS.  

    He said the NHF deductions from workers salaries, like the pension funds, were not just sitting idle but were being invested and queried why workers did not get profit on contributions.  

    Idowu, now a lecturer in the University of Lagos, said that NTA staff could not benefit from the FMBN loans because they were told their poor salary structure disqualified them.  

    The former broadcaster called for more transparency and awareness on the scheme while civil servants should be paid better wages to benefit from NHF.  

    Some serving federal civil servants who spoke on conditions of anomity, said they did not understand the housing policies of the government.  

    One of the civil servants said that she benefited recently from a N5 million loan under the FISH scheme operated by the office of the Head of Service.  

    “We don’t understand anything but whenever they bring forms for any housing loan or scheme I just key into it.

    I have filled countless forms in the past until the last one that I got N5 million to build my own house.  

    “They said the FISH (Federal Integrated Staff Housing Programme) scheme is under the office of Head of Service,’’ she said.


    NewsSourceCredit: NAN

  •   Workers lament difficulty in accessing housing loans Workers lament difficulty in accessing housing loans Loans By Reporters Port Harcourt Aug 19 2023 Civil servants in the South South have expressed disappointment over the difficulty in accessing housing loans from the Federal Mortgage Bank of Nigeria FMBN The workers in a survey conducted by told the News Agency of Nigeria said that the conditions for getting the loans were too stringent and had hindered them from accessing them They called on government to device other means of improving the scheme including relaxing the conditions to enable workers to access loans from the bank to build houses A staff of the Federal Ministry of Information in Cross River Mrs Enawan Effiom told NAN in Calabar that she had approached the FMBN to access funds to build a house Effiom said she was disappointed to be told that she could not access the loan except he came with a third party who should be a property developer The Grade Level 14 officer said that on making further enquiries she was given the phone number of a developer who was based in Uyo Akwa Ibom According her she was told that it was her responsibility to bear the cost of the developer s movements to inspect the building site if she eventually secured the loan This is outrageous because it simply means that if I need say N2 million or N3 million to build a two bedroom flat the cost will eventually rise by the time I finish bearing such additional costs Like many other civil servants I became discouraged I have also tried the ones built by the Federal Government that workers are expected to apply for I abandoned the effort because the requirements only favoured the rich and very senior civil servants she said According to her the houses are usually built at the outskirts of the state capital The ones for this state are located between Calabar and Odukpani The inhabitants have faced so many security challenges because of the location I cannot leave there in this era of insecurity she said Effiom said that it was easier to obtain a loan from a commercial bank to build a house than getting it from FMBN She however called on government to attach less stringent conditions that would encourage workers access the loan to be able to build houses of their own Another civil servant Mr Edet Archibong said he gave up hope on the scheme long ago because it lacked sincerity Archibong lamented that every month deductions were made from his salary yet accessing the fund was practically impossible According to him it is difficult to see civil servants in Calabar who would say that they got assistance from FMBN to build their houses He said the loan scheme could only benefit workers if government relaxed the requirements for the loan especially for low income earners The Coordinator National Directorate of Employment NDE in Delta Mr Sylvanus Onyeogo said in Asaba that the stringent conditions for accessing loan from FMBN has remained discouraging to civil servants Oneogo told NAN that he applied for a N5 million loan sometime ago while serving in Bayelsa to enable him complete a housing project but it was not realisable I owned a piece of land that I wanted to develop then and I needed N5 million to augment what I had to build the type of house I wanted I applied and all what they demanded from me though stringent l presented to them but rather than approve the N5 million I requested they approved N2 5 million for me It was tough for me and I rejected the money I rather sourced funds from our cooperative society to complete my project he said He said though the fund was accessible the approvals may not meet the subscriber s need For those who are subscribing for federal government housing units it may be a bit easier because the houses are fully developed and ready to be allocated In that case civil servant who are interested in such low cost houses can apply and if selected may not have as much difficulty accessing the fund Those civil servants who have many years to go can apply and in not too long a time they may get the loan Even if you have your own land and you want to develop it there are so many stringent conditions that you have to meet This is why many civil servants find if difficult to get the fund Onyeogo said urging government to make the requirement more attainable On his part the Federal Controller of Housing in Delta Mr Victor Uduokhia said that the first phase of the housing estate built by the federal government at Issele Azagba had been fully subscribed for He said however that he was not certain whether or not the subscribers sourced their funds directly from FMBN or from other sources As we speak the first phase of the low cost Federal Government Housing Units at Issele Azagba have been fully subscribed for We are in the second phase on same site and work have reached advanced stage Uduokhia said In Rivers a respondent complained of poor housing programme for the civil servants in the state A staff of state Ministry of Information Mr Kelvin Nengia said since I came into the civil service in 2008 not much has been done in the area of providing housing for civil servants The last time the government had a raffle draw for housing at Iriebe Oyibo Local Government Area was around 2009 Since then nothing has been heard of the programme until recently when they gave loans to some workers in 2021 he said A staff of the state owned Radio Rivers FM Station Mr Stanley Job however said that the state government had granted loans to its workers though not enough to build houses Job said no fewer than 30 workers in the station received housing loans in 2021 According to him some civil servants in Rivers State Television also obtained the loans They were given about N1 million each which is not enough to build a house The most the money can be used for is to acquire land he added Job urged the government to partner with private investors to drive the housing programme in the state On his part the Akwa Ibom Coordinator and Manager FMBN Mr Ifiok Umoren called on the National Assembly to amend the existing laws regulating housing policies Umoren said in Uyo that the measure would enable the country to tackle emerging exigencies in the housing sector According to him the bank had tried to ensure that the current legal framework was amended but had not succeeded He said lack of revised laws to address housing problems had caused serious set back in the sector He regretted that the revised bill to regulate the sector had been pending in the national assembly for a long time now and urged the lawmakers to do the needful In the past 10 years the bank has tried to get this law amended but it has not been possible Umoren said He commended civil servants in Akwa Ibom for remitting their monthly contribution to the National Housing Funds NHF promptly NHF is working in Akwa Ibom The civil servants are paying money to us In facts it is 100 per cent efficient All workers under the employment of the state pay money to FMBN Umoren however hinted that the bank had not adequate funds to finance housing as required He also decried the difficult workers faced in meeting the requirements for loans such as providing Certificate of Occupancy Right of Occupancy Registered Deed of Assignment Registered Deed of Sublease among others Most times one will want to acquired two bedroom flat which may be as high as N7 million depending on the location But because of how much you are earning you can t afford it what you earn can t guarantee the repayment of the loan for the property he said NewsSourceCredit NAN
    Workers lament difficulty in accessing housing loans
      Workers lament difficulty in accessing housing loans Workers lament difficulty in accessing housing loans Loans By Reporters Port Harcourt Aug 19 2023 Civil servants in the South South have expressed disappointment over the difficulty in accessing housing loans from the Federal Mortgage Bank of Nigeria FMBN The workers in a survey conducted by told the News Agency of Nigeria said that the conditions for getting the loans were too stringent and had hindered them from accessing them They called on government to device other means of improving the scheme including relaxing the conditions to enable workers to access loans from the bank to build houses A staff of the Federal Ministry of Information in Cross River Mrs Enawan Effiom told NAN in Calabar that she had approached the FMBN to access funds to build a house Effiom said she was disappointed to be told that she could not access the loan except he came with a third party who should be a property developer The Grade Level 14 officer said that on making further enquiries she was given the phone number of a developer who was based in Uyo Akwa Ibom According her she was told that it was her responsibility to bear the cost of the developer s movements to inspect the building site if she eventually secured the loan This is outrageous because it simply means that if I need say N2 million or N3 million to build a two bedroom flat the cost will eventually rise by the time I finish bearing such additional costs Like many other civil servants I became discouraged I have also tried the ones built by the Federal Government that workers are expected to apply for I abandoned the effort because the requirements only favoured the rich and very senior civil servants she said According to her the houses are usually built at the outskirts of the state capital The ones for this state are located between Calabar and Odukpani The inhabitants have faced so many security challenges because of the location I cannot leave there in this era of insecurity she said Effiom said that it was easier to obtain a loan from a commercial bank to build a house than getting it from FMBN She however called on government to attach less stringent conditions that would encourage workers access the loan to be able to build houses of their own Another civil servant Mr Edet Archibong said he gave up hope on the scheme long ago because it lacked sincerity Archibong lamented that every month deductions were made from his salary yet accessing the fund was practically impossible According to him it is difficult to see civil servants in Calabar who would say that they got assistance from FMBN to build their houses He said the loan scheme could only benefit workers if government relaxed the requirements for the loan especially for low income earners The Coordinator National Directorate of Employment NDE in Delta Mr Sylvanus Onyeogo said in Asaba that the stringent conditions for accessing loan from FMBN has remained discouraging to civil servants Oneogo told NAN that he applied for a N5 million loan sometime ago while serving in Bayelsa to enable him complete a housing project but it was not realisable I owned a piece of land that I wanted to develop then and I needed N5 million to augment what I had to build the type of house I wanted I applied and all what they demanded from me though stringent l presented to them but rather than approve the N5 million I requested they approved N2 5 million for me It was tough for me and I rejected the money I rather sourced funds from our cooperative society to complete my project he said He said though the fund was accessible the approvals may not meet the subscriber s need For those who are subscribing for federal government housing units it may be a bit easier because the houses are fully developed and ready to be allocated In that case civil servant who are interested in such low cost houses can apply and if selected may not have as much difficulty accessing the fund Those civil servants who have many years to go can apply and in not too long a time they may get the loan Even if you have your own land and you want to develop it there are so many stringent conditions that you have to meet This is why many civil servants find if difficult to get the fund Onyeogo said urging government to make the requirement more attainable On his part the Federal Controller of Housing in Delta Mr Victor Uduokhia said that the first phase of the housing estate built by the federal government at Issele Azagba had been fully subscribed for He said however that he was not certain whether or not the subscribers sourced their funds directly from FMBN or from other sources As we speak the first phase of the low cost Federal Government Housing Units at Issele Azagba have been fully subscribed for We are in the second phase on same site and work have reached advanced stage Uduokhia said In Rivers a respondent complained of poor housing programme for the civil servants in the state A staff of state Ministry of Information Mr Kelvin Nengia said since I came into the civil service in 2008 not much has been done in the area of providing housing for civil servants The last time the government had a raffle draw for housing at Iriebe Oyibo Local Government Area was around 2009 Since then nothing has been heard of the programme until recently when they gave loans to some workers in 2021 he said A staff of the state owned Radio Rivers FM Station Mr Stanley Job however said that the state government had granted loans to its workers though not enough to build houses Job said no fewer than 30 workers in the station received housing loans in 2021 According to him some civil servants in Rivers State Television also obtained the loans They were given about N1 million each which is not enough to build a house The most the money can be used for is to acquire land he added Job urged the government to partner with private investors to drive the housing programme in the state On his part the Akwa Ibom Coordinator and Manager FMBN Mr Ifiok Umoren called on the National Assembly to amend the existing laws regulating housing policies Umoren said in Uyo that the measure would enable the country to tackle emerging exigencies in the housing sector According to him the bank had tried to ensure that the current legal framework was amended but had not succeeded He said lack of revised laws to address housing problems had caused serious set back in the sector He regretted that the revised bill to regulate the sector had been pending in the national assembly for a long time now and urged the lawmakers to do the needful In the past 10 years the bank has tried to get this law amended but it has not been possible Umoren said He commended civil servants in Akwa Ibom for remitting their monthly contribution to the National Housing Funds NHF promptly NHF is working in Akwa Ibom The civil servants are paying money to us In facts it is 100 per cent efficient All workers under the employment of the state pay money to FMBN Umoren however hinted that the bank had not adequate funds to finance housing as required He also decried the difficult workers faced in meeting the requirements for loans such as providing Certificate of Occupancy Right of Occupancy Registered Deed of Assignment Registered Deed of Sublease among others Most times one will want to acquired two bedroom flat which may be as high as N7 million depending on the location But because of how much you are earning you can t afford it what you earn can t guarantee the repayment of the loan for the property he said NewsSourceCredit NAN
    Workers lament difficulty in accessing housing loans
    General news1 month ago

    Workers lament difficulty in accessing housing loans

    Workers lament difficulty in accessing housing loans Workers lament difficulty in accessing housing loans Loans By Reporters Port Harcourt, Aug. 19, 2023 Civil servants in the South-South have expressed disappointment over the difficulty in accessing housing loans from the Federal Mortgage Bank of Nigeria (FMBN).

    The workers, in a survey conducted by told the News Agency of Nigeria , said that the conditions for getting the loans were too stringent and had hindered them from accessing them.

    They called on government to device other means of improving the scheme, including relaxing the conditions to enable workers to access loans from the bank to build houses.

    A staff of the Federal Ministry of Information in Cross River, Mrs Enawan Effiom, told NAN in Calabar that she had approached the FMBN to access funds to build a house.

    Effiom said she was disappointed to be told that she could not access the loan, except he came with a third party who should be a property developer.

    The Grade Level 14 officer said that on making further enquiries she was given the phone number of a developer who was based in Uyo, Akwa Ibom. According her, she was told that it was her responsibility to bear the cost of the developer’s movements to inspect the building site if she eventually secured the loan.

    “This is outrageous because it simply means that if I need say N2 million or N3 million to build a two-bedroom flat, the cost will eventually rise by the time I finish bearing such additional costs.

    “Like many other civil servants, I became discouraged.

    “I have also tried the ones built by the Federal Government that workers are expected to apply for.

    I abandoned the effort because the requirements only favoured the rich and very senior civil servants,” she said.

    According to her, the houses are usually built at the outskirts of the state capital.

    “The ones for this state are located between Calabar and Odukpani.

    “The inhabitants have faced so many security challenges because of the location.

    I cannot leave there in this era of insecurity,” she said.

    Effiom said that it was easier to obtain a loan from a commercial bank to build a house than getting it from FMBN.

    She however called on government to attach less stringent conditions that would encourage workers access the loan to be able to build houses of their own.

    Another civil servant, Mr Edet Archibong, said he gave up hope on the scheme long ago because it “lacked sincerity.

    ” Archibong lamented that every month deductions were made from his salary yet accessing the fund was “practically impossible.

    ” According to him, it is difficult to see civil servants in Calabar who would say that they got assistance from FMBN to build their houses.

    He said the loan scheme could only benefit workers if government relaxed the requirements for the loan, especially for low income earners.

    The Coordinator, National Directorate of Employment (NDE) in Delta, Mr Sylvanus Onyeogo, said in Asaba that the stringent conditions for accessing loan from FMBN has remained discouraging to civil servants.

    Oneogo told NAN that he applied for a N5 million loan sometime ago while serving in Bayelsa, to enable him complete a housing project, but it was not realisable.

    “I owned a piece of land that I wanted to develop then and I needed N5 million to augment what I had to build the type of house I wanted.

    “I applied and all what they demanded from me, though stringent, l presented to them, but rather than approve the N5 million I requested, they approved N2.5 million for me.

    “It was tough for me and I rejected the money.

    I rather sourced funds from our cooperative society to complete my project,” he said.

    He said though the fund was accessible, the approvals may not meet the subscriber’s need.

    “For those who are subscribing for federal government housing units, it may be a bit easier because the houses are fully developed and ready to be allocated.

    “In that case, civil servant who are interested in such low cost houses can apply and if selected, may not have as much difficulty accessing the fund.

    “Those civil servants who have many years to go can apply, and in not too long a time, they may get the loan.

    “Even if you have your own land and you want to develop it, there are so many stringent conditions that you have to meet.

    “This is why many civil servants find if difficult to get the fund,” Onyeogo said, urging government to make the requirement more attainable.

    On his part, the Federal Controller of Housing in Delta, Mr Victor Uduokhia, said that the first phase of the housing estate built by the federal government at Issele-Azagba, had been fully subscribed for.

    He said however that he was not certain whether or not the subscribers sourced their funds directly from FMBN or from other sources.

    “As we speak, the first phase of the low cost Federal Government Housing Units at Issele-Azagba have been fully subscribed for.

    “We are in the second phase on same site and work have reached advanced stage,” Uduokhia said.

    In Rivers, a respondent complained of poor housing programme for the civil servants in the state.

    A staff of state Ministry of Information, Mr Kelvin Nengia, said: “since I came into the civil service in 2008, not much has been done in the area of providing housing for civil servants.

    “The last time the government had a raffle draw for housing at Iriebe, Oyibo Local Government Area was around 2009. “Since then, nothing has been heard of the programme until recently when they gave loans to some workers in 2021,” he said.

    A staff of the state-owned Radio Rivers FM Station, Mr Stanley Job, however, said that the state government had granted loans to its workers, though not enough to build houses.

    Job said no fewer than 30 workers in the station received housing loans in 2021. According to him, some civil servants in Rivers State Television also obtained the loans.

    “They were given about N1 million each which is not enough to build a house.

    The most the money can be used for is to acquire land,” he added.

    Job urged the government to partner with private investors to drive the housing programme in the state.

    On his part, the Akwa Ibom Coordinator and Manager, FMBN ,Mr Ifiok Umoren called on the National Assembly to amend the existing laws regulating housing policies.

    Umoren said in Uyo that the measure would enable the country to tackle emerging exigencies in the housing sector.

    According to him, the bank had tried to ensure that the current legal framework was amended but had not succeeded.

    He said lack of revised laws to address housing problems had caused serious set back in the sector.

    He regretted that the revised bill to regulate the sector had been pending in the national assembly for a long time now, and urged the lawmakers to do the needful.

    “In the past 10 years, the bank has tried to get this law amended but it has not been possible,” Umoren said.

    He commended civil servants in Akwa Ibom for remitting their monthly contribution to the National Housing Funds (NHF) promptly.

    “NHF is working in Akwa Ibom. The civil servants are paying money to us.

    In facts it is 100 per cent efficient.

    All workers under the employment of the state pay money to FMBN.

    Umoren however hinted that the bank had not adequate funds to finance housing as required.

    He also decried the difficult workers faced in meeting the requirements for loans such as providing Certificate of Occupancy, Right of Occupancy, Registered Deed of Assignment, Registered Deed of Sublease, among others.

    “Most times one will want to acquired two bedroom flat which may be as high as N7 million depending on the location.

    “But because of how much you are earning, you can’t afford it; what you earn can’t guarantee the repayment of the loan for the property,” he said.


    NewsSourceCredit: NAN

  •  Some civil servants in the South East have called for the reform of the National Housing Fund NHF to make the agency meet up its mandate of housing provision They disclosed this to the News Agency of Nigeria in separate interviews while reacting to the impact of the NHF since its inception In Enugu a retired civil servant Mr Vincent Okwor said that the fund was meant to provide houses or loans for housing acquisition and other related issues Okwor a former Assistant Editor in Chief of NAN said that in recent times the fund had not met the requirements of civil servants and low income Nigerians it should be catering for According to him previously it only takes three months to collect your NHF contribution and its interest after retirement but today there is delay in this process and at times contributors are short paid The purpose of the fund is not being fulfilled and it needs some reforms for it to function exceptionally I collected my contributed money and its interest in three months about five years ago after retirement but recently a newly retired colleague went to the fund but was delayed and was about to be short paid It took him accosting the managers of NHF in Abuja and intervention of a friend working in the fund for his over N100 000 short payment to be restored he said A serving civil servant who spoke on condition of anonymity said that the fund had not lived up to its expectation as even civil servants getting simple housing related loans below N1 million was still challenging The fund mandate should be looked into again and see how to make it more functional and realistic Myself and some colleagues applied for a Home Renovation Loan in the fund for N1 million and we even paid N9 000 for the facilitation of the loan But till date close to a year we have not heard from the agency office in the South East whether the application is accepted or not So the purpose of providing little loan let alone a shelter for civil servants is not visible any longer he said Other federal and state civil servants expressed dissatisfaction over non affordability and accessibility of houses built by governments They said that the cost of accessing and acquiring the buildings were beyond their salaries urging government to do something to alleviate their plight from becoming house owners According to them it is disheartening and painful that after working for 35 years a civil servant cannot boast of personal house or land In Abia a federal civil servant and contributor to the scheme Mrs Grace Okonkwo said that the institution fell short of the expectations of its subscribers nationwide in spite of the monthly deductions from their salaries by the Federal Mortgage Bank of Nigeria FMBN Okonkwo said that she and her colleagues who also subscribed had not got the houses they were paying for She said I m not satisfied with NHF because deductions are made from my salary every month but I have nothing to show for it For those of us in the Abia office of the institution it is only one person out of the lot that got a parcel of land in Abuja I think one of the challenges for us here in Abia is that there is no Federal Secretariat where we can easily take our complaints to or make inquiries For Mr Patrick Ufomba another contributor to the scheme the purpose of establishing NHF is defeated Ufomba said that to the best of his knowledge not many civil servants have been able to access the fund to execute housing project He said that he had spent over two decades in the federal civil service but cannot boast of having his own building It pains especially when money deducted monthly from my salary for that purpose At times I feel defrauded because I cannot enjoy the benefit of the contribution The Federal Government is expected to build low cost houses for civil servants after which they deduct the money from their salaries Unfortunately such projects are not seen especially in states Ufomba said A federal health worker Mr Julius Eze said that he applied for a Home Renovation Loan since two years ago but had yet to get any positive response I m just disappointed that l have not been able to access the N1 million that I applied for since two years ago I met the necessary requirements from FMBN but no official response from the institution on the issue to date I wish that the relevant authorities would intervene so that civil servants can access the houses or get loans as and when due Eze said A Deputy Director in the federal civil service described the scheme as a scam that should be investigated urgently I appeal to the EFCC and the Code of Conduct Bureau to beam their searchlight on NHF and tell Nigerian workers what is happening with their monthly contributions It is painful that a civil servant at my level would work for decades and not own a house of my own This is unacceptable Something is fishing and management of the institution has explanations to make the lady said on the condition of anonymity An official of the Federal Road Safety Corps FRSC in Enugu who pleaded anonymity urged the Federal Government to replicate same housing they built for workers at the Federal Capital Territory to states to enable workers at the state level to benefit He said We only see from television of government workers who have benefited from the FG housing plans in Abuja It is sad that after retirement one will be struggling to pay house rent school fees for children and feeding The highest thing any government can do for its working force is to provide them with personal accommodation adding that many retired civil servants die because they cannot afford house rent A staff of the Federal Ministry of Labour and Productivity who also pleaded anonymity described Contributory National Housing Fund as a fraud explaining that in spite of the contributions many civil servants found it difficult to access housing loans I see it as a scam because the purpose of contributing is to enable workers own house but the house is not available for them while few ones built was beyond our reach This is a big challenge to civil servants that earn little government should come to our aid he appealed An Enugu State teacher who simply gave her name as Sabina also appealed to governments and developers to reduce the price at which they sold houses to low income earners She expressed dismay that civil servants in the state did not have houses of their own as well as accessing loans from the mortgage banks and other financial institutions How can a civil servant that earn N40 000 to N50 000 buy the lowest house they sell N5 5m N10m and N15m she lamented In Anambra Mrs Chinwe Orizu the state Chairman Nigeria Labour Congress said that workers were yet to benefit from national housing fund they contributed over years due to non completion of the housing estate scheme in the state Orizu said that the process of the scheme should be made open to the public for easy accessment of information to avoid a situation where contributors would miss the opportunity to own a house or get reimbursed Mr Christian Beluchukwu a retired civil servant said that he never had a house nor being reimbursed the contribution he made while in service because of the tight process involved since no estate had been built by the government for her workers Mrs Ada Okafor a Chief pharmacist with the Nnamdi Azikiwe University Teaching Hospital Nnewi said that years back she filled a form regarding the process to claim a house based on their contribution but surprisingly till date nothing had been done to actualise the goal Mrs Pamela Igwe a contributor with Purity FM said that government should make the process to be transparent and easy to access for contributors Igwe said that the idea was laudable as the condition of many civil servants were pitiable in housing area and appealed to controller in charge of Anambra national housing scheme to ensure that the projects were realizable This national housing scheme is doable Lagos and Delta states have achieved it so Anambra can do better We need houses to be called our own so at retirement we can rest from rent age she said Meanwhile Mr Iwuchukwu Okafor Federal Controller Federal Housing Sector said that national housing scheme projects were ongoing in Anambra and that efforts were being made to complete them for commissioning Okafor said that the national housing projects started since 2016 in the state at Isiagu Community Layout in Awka South Local Government Area of the state He disclosed that the projects were done in three stages which involved site location clearing and erecting of the building meant for all grades of workers He explained that the stages entailed building of condominium which implies building a detachable structures that contains three bedroom flats two bedroom and one bedroom flat for all grades of workers Primarily the process starts from interested worker picking up a form from the ministry and presenting proof of contribution amongst others which at the end of the verification exercise flats would be allocated based on the contributory value of each worker Mr Chijioke Onyi a supervisor with the federal ministry collaborated the claim of the controller and said that they were working hard to ensure the problem of housing in the state for civil servants were solved Onyi said that some of the challenges they encountered include access road to the estate and expressed hope that attention would be given to that as soon as possible However some stakeholders in Ebonyi have decried the lack of awareness from the Federal Mortgage Bank of Nigeria FMBN on the possible steps to access the housing fund in the country The Stakeholders in a separate interviews with NAN said they did not know how to access the fund or have knowledge of where deductions from their salaries were being stacked Mrs Chika Oko a subscriber said she had been seeing deductions from her salary but not fully aware of how or where to access the fund I am a contributor and I don t know how to access the fund for the purpose of house ownership I am sure some people are just enriching themselves with people s contribution because I have not seen a contributor who have benefited before On houses built by the current administration I have no idea and I do not think there is anything like that in the state because I have not heard Oko added Mr Mike Chukwuka a civil servant in the state also blamed FMBN for lack of information on the Federal Housing Fund scheme It is unfair that many civil servants do not know anything on how to access the fund even when their salaries are being deducted We should blame FMBN that is managing the fund Yes I am a contributor and I have not had any need to access the fund But I have a friend who have benefited but that was when the person retired FMBN should come out to educate people especially on how to benefit to clear the negative impression by workers Chukwuka advised Another subscriber and teacher Mr Kennedy Okechukwu told NAN that he had not seen any house built for contributors in Ebonyi by the current administration in the past seven years Okechukwu said that some of the challenges plaguing the scheme remained lack of information about the fund Many people are ignorant of the scheme and how to access it he added A Retired Civil Servant Mr Wilson Okereke Former Deputy Director National Orientation Agency NOA said he was able to access the fund after his retirement On challenge Okereke said that he did not encounter any and added that the process was fast He urged the people to stop the impatient conclusion about the housing fund scheme Yes I benefited when I retired in 2020 I have no idea of anybody who have benefited while in service he stated In Imo beneficiaries of the National Housing Fund NHF said the process of accessing the fund was seamless and devoid of unnecessary stress A staff of the Federal Airports Authority of Nigeria FAAN Mr Michael Erondu said the fund was a reasonable arrangement by the Federal Government but decried the bureaucratic process involved in accessing it According to him the stress associated with bureaucracy of procuring the loan from commercial banks is a far cry from what the Federal Government intended it to serve Also contributing a senior staff of the state ministry of Information who pleaded anonymity said that the state s housing fund had gone moribund The source who hinted that the fund used to be operative before the start of the current administration expressed confidence that it would be reinstated It noted that the fund was seamlessly assessed when it was still available to workers adding that it provided a viable platform for civil servants in the state to own a house A retiree Mrs Kate Ubochioma said that she could not enjoy the Fund due to its unavailability throughout the period she worked Ubochioma called on the state government to revive the fund for the benefit of civil servants especially low income earners However a secondary school teacher Mrs Chinwendu Ohaya commended the Federal Government for the fund adding that she had begun the construction of her own house I accessed the fund from the Federal Mortgage Bank of Nigeria and it was helpful I am currently building my own house Ohaya said Another beneficiary Mrs Ngozika Hyacinth said that the long duration for repayment of the loan negatively impacted her salary amounting to almost infinitesimal amount Hyacinth who works as a nurse called for a review of the initiative to guarantee a more citizen friendly process and repayment system On the other hand Mr Anthony Uwa who pleaded that the establishment should not be mentioned called for an increase in government support to the fund to enable it serve its purpose It will help restore belief in the system and attract more potential benefits he added NewsSourceCredit NAN
    Civil servants call for reform of National Housing Fund
     Some civil servants in the South East have called for the reform of the National Housing Fund NHF to make the agency meet up its mandate of housing provision They disclosed this to the News Agency of Nigeria in separate interviews while reacting to the impact of the NHF since its inception In Enugu a retired civil servant Mr Vincent Okwor said that the fund was meant to provide houses or loans for housing acquisition and other related issues Okwor a former Assistant Editor in Chief of NAN said that in recent times the fund had not met the requirements of civil servants and low income Nigerians it should be catering for According to him previously it only takes three months to collect your NHF contribution and its interest after retirement but today there is delay in this process and at times contributors are short paid The purpose of the fund is not being fulfilled and it needs some reforms for it to function exceptionally I collected my contributed money and its interest in three months about five years ago after retirement but recently a newly retired colleague went to the fund but was delayed and was about to be short paid It took him accosting the managers of NHF in Abuja and intervention of a friend working in the fund for his over N100 000 short payment to be restored he said A serving civil servant who spoke on condition of anonymity said that the fund had not lived up to its expectation as even civil servants getting simple housing related loans below N1 million was still challenging The fund mandate should be looked into again and see how to make it more functional and realistic Myself and some colleagues applied for a Home Renovation Loan in the fund for N1 million and we even paid N9 000 for the facilitation of the loan But till date close to a year we have not heard from the agency office in the South East whether the application is accepted or not So the purpose of providing little loan let alone a shelter for civil servants is not visible any longer he said Other federal and state civil servants expressed dissatisfaction over non affordability and accessibility of houses built by governments They said that the cost of accessing and acquiring the buildings were beyond their salaries urging government to do something to alleviate their plight from becoming house owners According to them it is disheartening and painful that after working for 35 years a civil servant cannot boast of personal house or land In Abia a federal civil servant and contributor to the scheme Mrs Grace Okonkwo said that the institution fell short of the expectations of its subscribers nationwide in spite of the monthly deductions from their salaries by the Federal Mortgage Bank of Nigeria FMBN Okonkwo said that she and her colleagues who also subscribed had not got the houses they were paying for She said I m not satisfied with NHF because deductions are made from my salary every month but I have nothing to show for it For those of us in the Abia office of the institution it is only one person out of the lot that got a parcel of land in Abuja I think one of the challenges for us here in Abia is that there is no Federal Secretariat where we can easily take our complaints to or make inquiries For Mr Patrick Ufomba another contributor to the scheme the purpose of establishing NHF is defeated Ufomba said that to the best of his knowledge not many civil servants have been able to access the fund to execute housing project He said that he had spent over two decades in the federal civil service but cannot boast of having his own building It pains especially when money deducted monthly from my salary for that purpose At times I feel defrauded because I cannot enjoy the benefit of the contribution The Federal Government is expected to build low cost houses for civil servants after which they deduct the money from their salaries Unfortunately such projects are not seen especially in states Ufomba said A federal health worker Mr Julius Eze said that he applied for a Home Renovation Loan since two years ago but had yet to get any positive response I m just disappointed that l have not been able to access the N1 million that I applied for since two years ago I met the necessary requirements from FMBN but no official response from the institution on the issue to date I wish that the relevant authorities would intervene so that civil servants can access the houses or get loans as and when due Eze said A Deputy Director in the federal civil service described the scheme as a scam that should be investigated urgently I appeal to the EFCC and the Code of Conduct Bureau to beam their searchlight on NHF and tell Nigerian workers what is happening with their monthly contributions It is painful that a civil servant at my level would work for decades and not own a house of my own This is unacceptable Something is fishing and management of the institution has explanations to make the lady said on the condition of anonymity An official of the Federal Road Safety Corps FRSC in Enugu who pleaded anonymity urged the Federal Government to replicate same housing they built for workers at the Federal Capital Territory to states to enable workers at the state level to benefit He said We only see from television of government workers who have benefited from the FG housing plans in Abuja It is sad that after retirement one will be struggling to pay house rent school fees for children and feeding The highest thing any government can do for its working force is to provide them with personal accommodation adding that many retired civil servants die because they cannot afford house rent A staff of the Federal Ministry of Labour and Productivity who also pleaded anonymity described Contributory National Housing Fund as a fraud explaining that in spite of the contributions many civil servants found it difficult to access housing loans I see it as a scam because the purpose of contributing is to enable workers own house but the house is not available for them while few ones built was beyond our reach This is a big challenge to civil servants that earn little government should come to our aid he appealed An Enugu State teacher who simply gave her name as Sabina also appealed to governments and developers to reduce the price at which they sold houses to low income earners She expressed dismay that civil servants in the state did not have houses of their own as well as accessing loans from the mortgage banks and other financial institutions How can a civil servant that earn N40 000 to N50 000 buy the lowest house they sell N5 5m N10m and N15m she lamented In Anambra Mrs Chinwe Orizu the state Chairman Nigeria Labour Congress said that workers were yet to benefit from national housing fund they contributed over years due to non completion of the housing estate scheme in the state Orizu said that the process of the scheme should be made open to the public for easy accessment of information to avoid a situation where contributors would miss the opportunity to own a house or get reimbursed Mr Christian Beluchukwu a retired civil servant said that he never had a house nor being reimbursed the contribution he made while in service because of the tight process involved since no estate had been built by the government for her workers Mrs Ada Okafor a Chief pharmacist with the Nnamdi Azikiwe University Teaching Hospital Nnewi said that years back she filled a form regarding the process to claim a house based on their contribution but surprisingly till date nothing had been done to actualise the goal Mrs Pamela Igwe a contributor with Purity FM said that government should make the process to be transparent and easy to access for contributors Igwe said that the idea was laudable as the condition of many civil servants were pitiable in housing area and appealed to controller in charge of Anambra national housing scheme to ensure that the projects were realizable This national housing scheme is doable Lagos and Delta states have achieved it so Anambra can do better We need houses to be called our own so at retirement we can rest from rent age she said Meanwhile Mr Iwuchukwu Okafor Federal Controller Federal Housing Sector said that national housing scheme projects were ongoing in Anambra and that efforts were being made to complete them for commissioning Okafor said that the national housing projects started since 2016 in the state at Isiagu Community Layout in Awka South Local Government Area of the state He disclosed that the projects were done in three stages which involved site location clearing and erecting of the building meant for all grades of workers He explained that the stages entailed building of condominium which implies building a detachable structures that contains three bedroom flats two bedroom and one bedroom flat for all grades of workers Primarily the process starts from interested worker picking up a form from the ministry and presenting proof of contribution amongst others which at the end of the verification exercise flats would be allocated based on the contributory value of each worker Mr Chijioke Onyi a supervisor with the federal ministry collaborated the claim of the controller and said that they were working hard to ensure the problem of housing in the state for civil servants were solved Onyi said that some of the challenges they encountered include access road to the estate and expressed hope that attention would be given to that as soon as possible However some stakeholders in Ebonyi have decried the lack of awareness from the Federal Mortgage Bank of Nigeria FMBN on the possible steps to access the housing fund in the country The Stakeholders in a separate interviews with NAN said they did not know how to access the fund or have knowledge of where deductions from their salaries were being stacked Mrs Chika Oko a subscriber said she had been seeing deductions from her salary but not fully aware of how or where to access the fund I am a contributor and I don t know how to access the fund for the purpose of house ownership I am sure some people are just enriching themselves with people s contribution because I have not seen a contributor who have benefited before On houses built by the current administration I have no idea and I do not think there is anything like that in the state because I have not heard Oko added Mr Mike Chukwuka a civil servant in the state also blamed FMBN for lack of information on the Federal Housing Fund scheme It is unfair that many civil servants do not know anything on how to access the fund even when their salaries are being deducted We should blame FMBN that is managing the fund Yes I am a contributor and I have not had any need to access the fund But I have a friend who have benefited but that was when the person retired FMBN should come out to educate people especially on how to benefit to clear the negative impression by workers Chukwuka advised Another subscriber and teacher Mr Kennedy Okechukwu told NAN that he had not seen any house built for contributors in Ebonyi by the current administration in the past seven years Okechukwu said that some of the challenges plaguing the scheme remained lack of information about the fund Many people are ignorant of the scheme and how to access it he added A Retired Civil Servant Mr Wilson Okereke Former Deputy Director National Orientation Agency NOA said he was able to access the fund after his retirement On challenge Okereke said that he did not encounter any and added that the process was fast He urged the people to stop the impatient conclusion about the housing fund scheme Yes I benefited when I retired in 2020 I have no idea of anybody who have benefited while in service he stated In Imo beneficiaries of the National Housing Fund NHF said the process of accessing the fund was seamless and devoid of unnecessary stress A staff of the Federal Airports Authority of Nigeria FAAN Mr Michael Erondu said the fund was a reasonable arrangement by the Federal Government but decried the bureaucratic process involved in accessing it According to him the stress associated with bureaucracy of procuring the loan from commercial banks is a far cry from what the Federal Government intended it to serve Also contributing a senior staff of the state ministry of Information who pleaded anonymity said that the state s housing fund had gone moribund The source who hinted that the fund used to be operative before the start of the current administration expressed confidence that it would be reinstated It noted that the fund was seamlessly assessed when it was still available to workers adding that it provided a viable platform for civil servants in the state to own a house A retiree Mrs Kate Ubochioma said that she could not enjoy the Fund due to its unavailability throughout the period she worked Ubochioma called on the state government to revive the fund for the benefit of civil servants especially low income earners However a secondary school teacher Mrs Chinwendu Ohaya commended the Federal Government for the fund adding that she had begun the construction of her own house I accessed the fund from the Federal Mortgage Bank of Nigeria and it was helpful I am currently building my own house Ohaya said Another beneficiary Mrs Ngozika Hyacinth said that the long duration for repayment of the loan negatively impacted her salary amounting to almost infinitesimal amount Hyacinth who works as a nurse called for a review of the initiative to guarantee a more citizen friendly process and repayment system On the other hand Mr Anthony Uwa who pleaded that the establishment should not be mentioned called for an increase in government support to the fund to enable it serve its purpose It will help restore belief in the system and attract more potential benefits he added NewsSourceCredit NAN
    Civil servants call for reform of National Housing Fund
    Economy1 month ago

    Civil servants call for reform of National Housing Fund

    Some civil servants in the South East have called for the reform of the National Housing Fund (NHF) to make the agency meet up its mandate of housing provision.They disclosed this to the News Agency of Nigeria in separate interviews while reacting to the impact of the NHF since its inception.In Enugu, a retired civil servant, Mr Vincent Okwor, said that the fund was meant to provide houses or loans for housing acquisition and other related issues.Okwor, a former Assistant Editor-in-Chief of NAN, said that in recent times, the fund had not met the requirements of civil servants and low income Nigerians it should be catering for.According to him, previously, it only takes three months to collect your NHF contribution and its interest after retirement; but today there is delay in this process and at times contributors are short paid.“The purpose of the fund is not being fulfilled and it needs some reforms for it to function exceptionally.“I collected my contributed money and its interest in three months about five years ago after retirement; but recently, a newly retired colleague went to the fund but was delayed and was about to be short paid.“It took him accosting the managers of NHF in Abuja and intervention of a friend working in the fund for his over N100,000 short payment to be restored,” he said.A serving civil servant, who spoke on condition of anonymity, said that the fund had not lived up to its expectation as even civil servants getting simple housing related loans below N1 million was still challenging.“The fund mandate should be looked into again and see how to make it more functional and realistic.“Myself and some colleagues applied for a Home Renovation Loan in the fund for N1 million and we even paid N9,000 for the facilitation of the loan.“But till date close to a year, we have not heard from the agency office in the South-East whether the application is accepted or not.“So, the purpose of providing little loan, let alone a shelter for civil servants is not visible any longer,” he said.Other federal and state civil servants expressed dissatisfaction over non affordability and accessibility of houses built by governments.They said that the cost of accessing and acquiring the buildings were beyond their salaries, urging government to do something to alleviate their plight from becoming house owners.According to them, it is disheartening and painful that after working for 35 years, a civil servant cannot boast of personal house or land.In Abia, a federal civil servant and contributor to the scheme, Mrs Grace Okonkwo, said that the institution fell short of the expectations of its subscribers nationwide in spite of the monthly deductions from their salaries by the Federal Mortgage Bank of Nigeria (FMBN).Okonkwo said that she and her colleagues, who also subscribed, had not got the houses they were paying for.She said: “I’m not satisfied with NHF because deductions are made from my salary every month but I have nothing to show for it.“For those of us in the Abia office of the institution, it is only one person out of the lot that got a parcel of land in Abuja.“I think one of the challenges for us here in Abia is that there is no Federal Secretariat, where we can easily take our complaints to or make inquiries.” For Mr Patrick Ufomba, another contributor to the scheme, the purpose of establishing NHF is defeated.Ufomba said that to the best of his knowledge, not many civil servants have been able to access the fund to execute housing project.He said that he had spent over two decades in the federal civil service but cannot boast of having his own building.“It pains, especially when money deducted monthly from my salary for that purpose.At times, I feel defrauded because I cannot enjoy the benefit of the contribution.“The Federal Government is expected to build low-cost houses for civil servants, after which they deduct the money from their salaries.“Unfortunately, such projects are not seen, especially in states,” Ufomba said.A federal health worker, Mr Julius Eze, said that he applied for a Home Renovation Loan since two years ago but had yet to get any positive response.“I’m just disappointed that l have not been able to access the N1 million that I applied for since two years ago.“I met the necessary requirements from FMBN but no official response from the institution on the issue to date.“I wish that the relevant authorities would intervene so that civil servants can access the houses or get loans as and when due,” Eze said.A Deputy Director in the federal civil service described the scheme as a scam that should be investigated urgently.“I appeal to the EFCC and the Code of Conduct Bureau to beam their searchlight on NHF and tell Nigerian workers what is happening with their monthly contributions.“It is painful that a civil servant at my level would work for decades and not own a house of my own.“This is unacceptable.Something is fishing and management of the institution has explanations to make,” the lady said on the condition of anonymity.An official of the Federal Road Safety Corps (FRSC), in Enugu who pleaded anonymity, urged the Federal Government to replicate same housing they built for workers at the Federal Capital Territory to states to enable workers at the state level to benefit.He said, “We only see from television of government workers who have benefited from the FG housing plans in Abuja.“It is sad that after retirement, one will be struggling to pay house rent, school fees for children and feeding.“The highest thing any government can do for its working force is to provide them with personal accommodation, adding that many retired civil servants die because they cannot afford house rent.A staff of the Federal Ministry of Labour and Productivity, who also pleaded anonymity, described Contributory National Housing Fund as a “fraud” explaining that in spite of the contributions, many civil servants found it difficult to access housing loans “I see it as a scam because the purpose of contributing is to enable workers own house but the house is not available for them while few ones built was beyond our reach.“This is a big challenge to civil servants that earn little; government should come to our aid,” he appealed.An Enugu State teacher who simply gave her name as Sabina, also appealed to governments and developers to reduce the price at which they sold houses to low income earners.She expressed dismay that civil servants in the state did not have houses of their own as well as accessing loans from the mortgage banks and other financial institutions.“How can a civil servant that earn N40,000 to N50,000 buy the lowest house they sell N5.5m, N10m and N15m,” she lamented.In Anambra, Mrs Chinwe Orizu, the state Chairman, Nigeria Labour Congress, said that workers were yet to benefit from national housing fund they contributed over years due to non completion of the housing estate scheme in the state.Orizu said that the process of the scheme should be made open to the public for easy accessment of information to avoid a situation where contributors would miss the opportunity to own a house or get reimbursed.Mr Christian Beluchukwu, a retired civil servant, said that he never had a house nor being reimbursed the contribution he made while in service  because of the tight process involved since no estate had been built by the government for her workers.Mrs Ada Okafor, a Chief pharmacist with the Nnamdi Azikiwe University Teaching  Hospital, Nnewi, said that years back, she filled a form regarding the process  to claim a house based on their contribution but surprisingly, till date nothing had been done to actualise the goal.Mrs Pamela Igwe, a contributor with Purity FM, said that government should make the process to be transparent and easy to access for contributors.Igwe said that the idea was laudable as the condition of many civil servants were pitiable in housing area and appealed to controller in charge of Anambra national housing scheme to ensure that the projects were realizable.“This national housing scheme is doable, Lagos and Delta states have achieved it so Anambra can do better.“We need houses to be called our own so at retirement, we can rest from rent age,” she said.Meanwhile, Mr Iwuchukwu Okafor, Federal Controller, Federal Housing Sector, said that national housing scheme projects were ongoing in Anambra  and that efforts were being made to complete them for commissioning.Okafor said that the national housing projects started since 2016 in the state at Isiagu Community Layout in Awka South Local Government Area of the state.He disclosed that the projects were done in three stages which involved site location, clearing and erecting of the building meant for all grades of workers.He explained that the stages entailed building of condominium  which implies building  a detachable structures that contains three bedroom flats , two bedroom and one bedroom flat  for all grades of workers.“Primarily  the process starts from interested worker picking up a  form from the ministry and presenting proof of contribution amongst others which at the end of the verification exercise flats would be allocated based on the contributory value of each worker.Mr Chijioke Onyi, a supervisor with the federal ministry collaborated the claim of the controller and said that they were working hard to ensure the problem of housing in the state for civil servants were solved.Onyi said that some of the challenges they encountered include access  road to the estate and expressed hope that attention would be given to that as soon as possible.However, some stakeholders in Ebonyi, have decried the lack of awareness from the Federal Mortgage Bank of Nigeria (FMBN) on the possible steps to access the housing fund in the country.The Stakeholders, in a separate interviews with NAN, said they did not know how to access the fund or have knowledge of where deductions from their salaries were being stacked.Mrs Chika Oko, a subscriber, said she had been seeing deductions from her salary but not fully aware of how or where to access the fund.“I am a contributor and I don’t know how to access the fund for the purpose of house ownership.“I am sure some people are just enriching themselves with people’s contribution, because I have not seen a contributor who have benefited before.“On houses built by the current administration, I have no idea and I do not think there is anything like that in the state because I have not heard,” Oko added.Mr Mike Chukwuka, a civil servant in the state, also blamed FMBN for lack of information on the Federal Housing Fund scheme.‘‘It is unfair that many civil servants do not know anything on how to access the fund even when their salaries are being deducted.We should blame FMBN that is managing the fund.“Yes, I am a contributor, and I have not had any need to access the fund.But I have a friend, who have benefited, but that was when the person retired.“FMBN should come out to educate people, especially on how to benefit to clear the negative impression by workers,” Chukwuka advised.Another subscriber and teacher, Mr Kennedy Okechukwu told NAN that he had not seen any house built for contributors in Ebonyi by the current administration in the past seven years.Okechukwu said that some of the challenges plaguing the scheme remained lack of information about the fund.“Many people are ignorant of the scheme and how to access it,” he added.A Retired Civil Servant, Mr Wilson Okereke, Former Deputy Director, National Orientation Agency (NOA) said he was able to access the fund after his retirement.On challenge, Okereke said that he did not encounter any and added that the process was fast.He urged the people to stop the impatient conclusion about the housing fund scheme.“Yes, I benefited when I retired in 2020. I have no idea of anybody, who have benefited while in service,” he stated.In Imo, beneficiaries of the National Housing Fund (NHF) said the process of accessing the fund was seamless and devoid of unnecessary stress.A staff of the Federal Airports Authority of Nigeria (FAAN), Mr Michael Erondu, said the fund was a reasonable arrangement by the Federal Government but decried the bureaucratic process involved in accessing it.According to him, the stress associated with bureaucracy of procuring the loan from commercial banks is a far cry from what the Federal Government intended it to serve.Also contributing, a senior staff of the state ministry of Information, who pleaded anonymity, said that the state’s housing fund had gone moribund.The source, who hinted that the fund used to be operative before the start of the current administration, expressed confidence that it would be reinstated.It noted that the fund was seamlessly assessed when it was still available to workers, adding that it provided a viable platform for civil servants in the state to own a house.A retiree, Mrs Kate Ubochioma, said that she could not enjoy the Fund due to its unavailability throughout the period she worked.Ubochioma called on the state government to revive the fund for the benefit of civil servants, especially low income earners.However, a secondary school teacher, Mrs Chinwendu Ohaya, commended the Federal Government for the fund, adding that she had begun the construction of her own house.‘I accessed the fund from the Federal Mortgage Bank of Nigeria and it was helpful.I am currently building my own house,” Ohaya said.Another beneficiary, Mrs Ngozika Hyacinth, said that the long duration for repayment of the loan negatively impacted her salary, amounting to almost infinitesimal amount.Hyacinth, who works as a nurse, called for a review of the initiative to guarantee a more citizen-friendly process and repayment system.On the other hand, Mr Anthony Uwa, who pleaded that the establishment should not be mentioned, called for an increase in government support to the fund to enable it serve its purpose.“It will help restore belief in the system and attract more potential benefits,” he added.NewsSourceCredit: NAN

  •  The Minister of Works and Housing Mr Babatunde Fashola says addressing the issue of access to mortgage financing is the panacea to housing delivery challenge in the country Fashola said this at the opening of the Retreat of the Federal Mortgage Bank of Nigeria FMBN on Monday in Abuja The retreat is with the theme Strategy Repositing for Optimised Performance Organisational Culture Change and Informal Sector Integration According to him one of the obstacles of access to housing is the one that impedes access to finance and this must be removed If we fail to remove this impediment then we will be failing in the reason for setting up the bank There must be something done to help people pays their rents via their salaries especially the problem of two three years rent payment demand by landlords in advance from tenants whose salaries come in arrears Fashola said He therefore advised the bank to collaborate with the Nigeria Deposit Insurance Corporation contributors fund like other commercial banks do Fashola added that this would go a long way to finance the mortgage of contributors since there was nowhere in the world that government does 100 per cent housing financing While commending the bank s board and management for the services rendered such as home refurbishment loans and introduction of the rent to own initiative he charged them to focus the retreat on better ways to serve the people Fashola said that performance and repositioning were key to setting up the bank to provide housing services to the people On his part Mr Ayodeji Gbeleyi Chairman Board of Directors FMBN called for the review of both the FMBN and National Housing Fund NHF Acts to incorporate increment in the bank s share capital Give more flexibility in determining share capital structure in line with emerging realities There is the case to amend the NHF Act to increase the accretion of contributors to the funds through percentage increase in contributions Source diversification adoption of initiatives to attract banks and insurance companies and other prospective contributors to participate actively in the NHF scheme The Land Use Act has no specifics provisions for the foreclosure of mortgages and this poses a challenge for investors as mortgages can take undue advantage of the gap to delay the foreclosure process Gbeleyi said to close the gap states should be encouraged to put in place foreclosure laws through their States Houses of Assembly adding that only Lagos and Kaduna states had enacted their foreclosure laws In his address Mr Madu Hamman Managing Director FMBN said the need to re focus the direction of the bank was driven by the need to re align its strategic targets in the light of prevailing economic financial and social realities Also to re configure the strategy document to incorporate the vision and focus of the bank s new leadership in implementing Mr President s mandate for affordable housing delivery to Nigerians especially those in the low and middle income brackets Our collective vision for FMBN in the future is a financially viable and highly adaptive bank capable of adequately coping with the vagrancies of a world transiting from a volatile uncertain complex and ambiguous environment To a brittle anxious non linear and incomprehensible environment as a result of the COVID 19 pandemic and other emergence and unfolding factors To this end the bank s strategy document must become the tool for managing a constantly shifting environment as well as one for identifying and utilising opportunities that such challenges may present he said Hamman said FMBN had therefore adapted to be the preferred mortgage institution providing reliable and affordable access to homeownership for Nigerian as its corporate vision He said that this vision was guided by the mission statement to drive the delivery of accessible and affordable homeownership by providing sustainable liquidity innovative products and services and excellent customer service Also speaking Mr Ebilate Mac Yoroki President Mortgage Banking Association of Nigeria MBAN said it was imperative for FMBN as one of the virile secondary mortgage market institutions to reposition itself to harness its full potential Mac Yoroki said that the bank should taking cognizance of the current economic realities in the country into consideration while trying to reposition A Board retreat such as this will be ideal to challenge the status quo tackle difficult issues and forge a camaraderie for the overall benefit of the entire sub sector The five year strategy blueprint being articulated by the management demonstrates its commitment toward housing financing in Nigeria In view of the critical importance of the housing financing banking sub sector to national economic development through its linkages with the money and capital markets and its multiplier effects through spending on housing related materials he said In a paper presented by the Managing Director Bank of Industry Mr Olukayode Pitan on Institutional Turnaround for the Next Level advocated continuity in the management of the banks According to him lack of continuity in the persons that manage the affairs of the banks is a major setback for the growth and development of the bank Pitan called on the bank to have a strategy informed ambition with clearly articulated and properly defined steps in order to achieve set goals He also advised the bank to go for long term borrowing especially from pension funds and be ready to implement any decision collectively agreed upon The News Agency of Nigeria reports that some of the highlights include health talk on Mental Health Epidemic The Big Effect of COVID 19 by Dr Olusola Ephraim Oluwanuga Consultant Psychiatrist She advised people to get professional help when they could not manage stress NAN also reports that the high point of the event was the official launch of FMBN Corporate Statements by the minister NewsSourceCredit NAN
    Addressing mortgage financing hitch, key to housing delivery – Fashola
     The Minister of Works and Housing Mr Babatunde Fashola says addressing the issue of access to mortgage financing is the panacea to housing delivery challenge in the country Fashola said this at the opening of the Retreat of the Federal Mortgage Bank of Nigeria FMBN on Monday in Abuja The retreat is with the theme Strategy Repositing for Optimised Performance Organisational Culture Change and Informal Sector Integration According to him one of the obstacles of access to housing is the one that impedes access to finance and this must be removed If we fail to remove this impediment then we will be failing in the reason for setting up the bank There must be something done to help people pays their rents via their salaries especially the problem of two three years rent payment demand by landlords in advance from tenants whose salaries come in arrears Fashola said He therefore advised the bank to collaborate with the Nigeria Deposit Insurance Corporation contributors fund like other commercial banks do Fashola added that this would go a long way to finance the mortgage of contributors since there was nowhere in the world that government does 100 per cent housing financing While commending the bank s board and management for the services rendered such as home refurbishment loans and introduction of the rent to own initiative he charged them to focus the retreat on better ways to serve the people Fashola said that performance and repositioning were key to setting up the bank to provide housing services to the people On his part Mr Ayodeji Gbeleyi Chairman Board of Directors FMBN called for the review of both the FMBN and National Housing Fund NHF Acts to incorporate increment in the bank s share capital Give more flexibility in determining share capital structure in line with emerging realities There is the case to amend the NHF Act to increase the accretion of contributors to the funds through percentage increase in contributions Source diversification adoption of initiatives to attract banks and insurance companies and other prospective contributors to participate actively in the NHF scheme The Land Use Act has no specifics provisions for the foreclosure of mortgages and this poses a challenge for investors as mortgages can take undue advantage of the gap to delay the foreclosure process Gbeleyi said to close the gap states should be encouraged to put in place foreclosure laws through their States Houses of Assembly adding that only Lagos and Kaduna states had enacted their foreclosure laws In his address Mr Madu Hamman Managing Director FMBN said the need to re focus the direction of the bank was driven by the need to re align its strategic targets in the light of prevailing economic financial and social realities Also to re configure the strategy document to incorporate the vision and focus of the bank s new leadership in implementing Mr President s mandate for affordable housing delivery to Nigerians especially those in the low and middle income brackets Our collective vision for FMBN in the future is a financially viable and highly adaptive bank capable of adequately coping with the vagrancies of a world transiting from a volatile uncertain complex and ambiguous environment To a brittle anxious non linear and incomprehensible environment as a result of the COVID 19 pandemic and other emergence and unfolding factors To this end the bank s strategy document must become the tool for managing a constantly shifting environment as well as one for identifying and utilising opportunities that such challenges may present he said Hamman said FMBN had therefore adapted to be the preferred mortgage institution providing reliable and affordable access to homeownership for Nigerian as its corporate vision He said that this vision was guided by the mission statement to drive the delivery of accessible and affordable homeownership by providing sustainable liquidity innovative products and services and excellent customer service Also speaking Mr Ebilate Mac Yoroki President Mortgage Banking Association of Nigeria MBAN said it was imperative for FMBN as one of the virile secondary mortgage market institutions to reposition itself to harness its full potential Mac Yoroki said that the bank should taking cognizance of the current economic realities in the country into consideration while trying to reposition A Board retreat such as this will be ideal to challenge the status quo tackle difficult issues and forge a camaraderie for the overall benefit of the entire sub sector The five year strategy blueprint being articulated by the management demonstrates its commitment toward housing financing in Nigeria In view of the critical importance of the housing financing banking sub sector to national economic development through its linkages with the money and capital markets and its multiplier effects through spending on housing related materials he said In a paper presented by the Managing Director Bank of Industry Mr Olukayode Pitan on Institutional Turnaround for the Next Level advocated continuity in the management of the banks According to him lack of continuity in the persons that manage the affairs of the banks is a major setback for the growth and development of the bank Pitan called on the bank to have a strategy informed ambition with clearly articulated and properly defined steps in order to achieve set goals He also advised the bank to go for long term borrowing especially from pension funds and be ready to implement any decision collectively agreed upon The News Agency of Nigeria reports that some of the highlights include health talk on Mental Health Epidemic The Big Effect of COVID 19 by Dr Olusola Ephraim Oluwanuga Consultant Psychiatrist She advised people to get professional help when they could not manage stress NAN also reports that the high point of the event was the official launch of FMBN Corporate Statements by the minister NewsSourceCredit NAN
    Addressing mortgage financing hitch, key to housing delivery – Fashola
    General news2 months ago

    Addressing mortgage financing hitch, key to housing delivery – Fashola

    The Minister of Works and Housing, Mr Babatunde Fashola, says addressing the issue of access to mortgage financing is the panacea to housing delivery challenge in the country.

    Fashola said this at the opening of the Retreat of the Federal Mortgage Bank of Nigeria (FMBN) on Monday, in Abuja.

    The retreat is with the theme: ”Strategy Repositing for Optimised Performance, Organisational Culture Change and Informal Sector Integration’’.

    According to him, one of the obstacles of access to housing is the one that impedes access to finance, and this must be removed.

    “If we fail to remove this impediment, then we will be failing in the reason for setting up the bank.

    “There must be something done to help people pays their rents via their salaries, especially the problem of two-three years rent payment demand by landlords in advance from tenants whose salaries come in arrears,’’ Fashola said.

    He, therefore, advised the bank to collaborate with the Nigeria Deposit Insurance Corporation contributors’ fund like other commercial banks do.

    Fashola added that this would go a long way to finance the mortgage of contributors since there was nowhere in the world that government does 100 per cent housing financing.

    While commending the bank’s board and management for the services rendered such as home refurbishment loans and introduction of the rent to own initiative, he charged them to focus the retreat on better ways to serve the people.

    Fashola said that performance and repositioning were key to setting up the bank to provide housing services to the people.

    On his part, Mr Ayodeji Gbeleyi, Chairman, Board of Directors, FMBN called for the review of both the FMBN and National Housing Fund (NHF) Acts to incorporate increment in the bank’s share capital.

    “Give more flexibility in determining share capital structure in line with emerging realities.

    There is the case to amend the NHF Act to increase the accretion of contributors to the funds through percentage increase in contributions.

    “Source diversification, adoption of initiatives to attract banks and insurance companies and other prospective contributors to participate actively in the NHF scheme.

    “The Land Use Act has no specifics provisions for the foreclosure of mortgages and this poses a challenge for investors, as mortgages can take undue advantage of the gap to delay the foreclosure process.

    Gbeleyi said to close the gap, states should be encouraged to put in place foreclosure laws through their States Houses of Assembly, adding that only Lagos and Kaduna states had enacted their foreclosure laws.

    In his address, Mr Madu Hamman, Managing Director, FMBN said the need to re-focus the direction of the bank was driven by the need to re-align its strategic targets in the light of prevailing economic, financial and social realities.

    Also to re-configure the strategy document to incorporate the vision and focus of the bank’s new leadership in implementing Mr President’s mandate for affordable housing delivery to Nigerians especially those in the low and middle income brackets.

    “Our collective vision for FMBN in the future is a financially viable and highly adaptive bank capable of adequately coping with the vagrancies of a world transiting, from a volatile, uncertain, complex and ambiguous environment.

    “To a brittle, anxious, non-linear and incomprehensible environment as a result of the COVID-19 pandemic and other emergence and unfolding factors.

    “To this end, the bank’s strategy document must become the tool for managing a constantly shifting environment as well as one for identifying and utilising opportunities that such challenges may present,” he said.

    Hamman said FMBN had therefore adapted “to be the preferred mortgage institution providing reliable and affordable access to homeownership for Nigerian’’ as its corporate vision.

    He said that this vision was guided by the mission statement“ to drive the delivery of accessible and affordable homeownership by providing sustainable liquidity, innovative products and services and excellent customer service’’.

    Also speaking, Mr Ebilate Mac-Yoroki, President, Mortgage Banking Association of Nigeria (MBAN), said it was imperative for FMBN as one of the virile secondary mortgage market institutions to reposition itself to harness its full potential.

    Mac-Yoroki said that the bank should taking cognizance of the current economic realities in the country into consideration while trying to reposition.

    ”A Board retreat such as this will be ideal to challenge the status quo, tackle difficult issues and forge a camaraderie for the overall benefit of the entire sub-sector.

    “The five-year strategy blueprint being articulated by the management demonstrates its commitment toward housing financing in Nigeria.

    “In view of the critical importance of the housing financing banking sub-sector to national economic development through its linkages with the money and capital markets and its multiplier effects through spending on housing related materials,” he said.

    In a paper presented by the Managing Director, Bank of Industry, Mr Olukayode Pitan, on `Institutional Turnaround for the Next Level’ advocated continuity in the management of the banks.

    According to him, lack of continuity in the persons that manage the affairs of the banks is a major setback for the growth and development of the bank.

    Pitan called on the bank to have a strategy informed ambition with clearly articulated and properly defined steps in order to achieve set goals.

    He also advised the bank to go for long term borrowing especially from pension funds and be ready to implement any decision collectively agreed upon.

    The News Agency of Nigeria reports that some of the highlights include, health talk on `Mental Health Epidemic: The Big Effect of COVID-19 by Dr Olusola Ephraim-Oluwanuga, Consultant Psychiatrist.

    She advised people to get professional help when they could not manage stress.

    NAN also reports that the high point of the event was the official launch of FMBN Corporate Statements by the minister.


    NewsSourceCredit: NAN

  •  The Minister of State for Works and Housing Malam Mu azu Sambo says the Nigerian Government has completed about 6 000 housing units across the country According to him the houses are funded by the Federal Housing Authority FHA and Federal Mortgage Bank of Nigeria FMBN Sambo told the News Agency of Nigeria in New York that Nigerians home and abroad should buy the houses which are sold on the Federal Ministry of Works and Housing portal These houses are reasonably affordable to most Nigerians and if they are not able to pay immediately we encourage them to approach FMBN and open account with the Bank Interested Nigerians could open an account with FMBN or any of the primary mortgage institutions especially if they contribute to the National Housing Fund The houses are sold on the portal because we want to be transparent Nigerians are advised to go online look at the houses they like and in any states and apply Sambo told NAN that 700 units out of the 6 000 units would be inaugurated in Zuba in May adding that one of the priorities of President Muhammadu Buhari lead administration is to provide social houses The government priority is social inclusion which targets reduction of poverty and enhancing the livelihood of poor people by building houses that will give them comfort shelter and sustainability For instance we don t want to build a house that is expensive and difficult to maintain Our intention is to meet the requirement of the Constitution which is right to shelter for every Nigerian he said In addition the minister said the Government was working to deliver 900 housing units under its National Housing Programme NHP in 35 states across the country We have completed the phase one of NHP and in some states phase two has been completed and in some states we are in phase three Almost all the states are in phase three In each state they are not less than 100 houses and we are looking at 300 houses in three phases Some of them are being commissioned but we are going to commission that of Taraba this month he said NAN
    Nigerian govt completes 6,000 housing units – Minister
     The Minister of State for Works and Housing Malam Mu azu Sambo says the Nigerian Government has completed about 6 000 housing units across the country According to him the houses are funded by the Federal Housing Authority FHA and Federal Mortgage Bank of Nigeria FMBN Sambo told the News Agency of Nigeria in New York that Nigerians home and abroad should buy the houses which are sold on the Federal Ministry of Works and Housing portal These houses are reasonably affordable to most Nigerians and if they are not able to pay immediately we encourage them to approach FMBN and open account with the Bank Interested Nigerians could open an account with FMBN or any of the primary mortgage institutions especially if they contribute to the National Housing Fund The houses are sold on the portal because we want to be transparent Nigerians are advised to go online look at the houses they like and in any states and apply Sambo told NAN that 700 units out of the 6 000 units would be inaugurated in Zuba in May adding that one of the priorities of President Muhammadu Buhari lead administration is to provide social houses The government priority is social inclusion which targets reduction of poverty and enhancing the livelihood of poor people by building houses that will give them comfort shelter and sustainability For instance we don t want to build a house that is expensive and difficult to maintain Our intention is to meet the requirement of the Constitution which is right to shelter for every Nigerian he said In addition the minister said the Government was working to deliver 900 housing units under its National Housing Programme NHP in 35 states across the country We have completed the phase one of NHP and in some states phase two has been completed and in some states we are in phase three Almost all the states are in phase three In each state they are not less than 100 houses and we are looking at 300 houses in three phases Some of them are being commissioned but we are going to commission that of Taraba this month he said NAN
    Nigerian govt completes 6,000 housing units – Minister
    Foreign5 months ago

    Nigerian govt completes 6,000 housing units – Minister

    The Minister of State for Works and Housing, Malam Mu’azu Sambo says the Nigerian Government has completed about 6,000 housing units across the country.

    According to him, the houses are funded by the Federal Housing Authority (FHA) and Federal Mortgage Bank of Nigeria (FMBN).

    Sambo told the News Agency of Nigeria in New York that Nigerians home and abroad should buy the houses, which are sold on the Federal Ministry of Works and Housing portal.

    “These houses are reasonably affordable to most Nigerians and if they are not able to pay immediately, we encourage them to approach FMBN and open account with the Bank.

    “Interested Nigerians could open an account with FMBN or any of the primary mortgage institutions, especially if they contribute to the National Housing Fund.

    “The houses are sold on the portal because we want to be transparent. Nigerians are advised to go online, look at the houses they like, and in any states and apply.’’

    Sambo told NAN that 700 units out of the 6,000 units would be inaugurated in Zuba in May, adding that one of the priorities of President Muhammadu Buhari- lead administration is to provide social houses.

    “The government priority is social inclusion, which targets reduction of poverty and enhancing the livelihood of poor people by building houses that will give them comfort, shelter, and sustainability.

    “For instance, we don’t want to build a house that is expensive and difficult to maintain. Our intention is to meet the requirement of the Constitution, which is right to shelter for every Nigerian,’’ he said.

    In addition, the minister said the Government was working to deliver 900 housing units under its National Housing Programme (NHP) in 35 states across the country.

    “We have completed the phase one of NHP and in some states, phase two has been completed and in some states, we are in phase three.

    “Almost all the states are in phase three. In each state, they are not less than 100 houses, and we are looking at 300 houses in three phases.

    “Some of them are being commissioned but we are going to commission that of Taraba this month,’’he said.

    (NAN)

  •  The Minister of Works and Housing Mr Babatunde Fashola has urged the newly inaugurated management of Federal Mortgage Bank of Nigeria FMBN to revive the over 2000 abandoned housing projects across the country Inaugurating the the new seven member board on Thursday in Abuja the minister charged them to bring their various wealth of experiences to bare in order to reposition the FCMB Fashola told the new board members that it was a huge privilege for them to be among the few Nigerians who were enrolled in the public service Out of hundreds of millions of people but you are among the few to be selected even as there are many more who are better than you but you are chosen So this is not an opportunity for selfishness but an opportunity to help others And my advice is that we are not in our homes we are not in public space but we are people in the public service and we have to work inside a team in order to achieve this aims Those people that we will work with may not speak like us dress like us and neither eat what we eat but they are part of us and if will manage our ego we will realize that these are not different from us So we have a lot to learn from each other and share with each other You help us to solve some of the problems that have to do with access to housing and I want to appeal to you do not become a problem but solve a problem In addition to all your responsibilities I expect you to quickly revive the position of over 2000 housing units at various level of completion under the of federal housing scheme This was started in administrations before us but it is yet to be completed Fashola said He assured the new management of the support from the ministry adding that he would not hesitate to recommend to Mr President to remove any nominee who fell short of a target Fashola told the new board that their four year term was not guaranteed but subject to performance The minister further said that a team would be sent to check the level of completion of the houses and the report would be shared with the board The newly inaugurated 7 man management board of the FMBN led by Mr Hamman Madu assured the minister that the management would ensure an effective efficient and qualitative operation in the next four years as they assume duty Madu the Managing Chief Executive FMBN thanked President Muhammadu Buhari for appointing them into the exalted position of Nigeria s apex Mortgage Institution We are humble and excited to be chosen and to undertake the responsibility Housing is one of the basic human needs and to access housing finance is a critical ingredient in achieving the housing needs of all Nigerians he said He promised on behalf of the Executive Management Team and Board to work harmoniously to reposition the Bank to deliver on its core mandate and meet any emerging challenges Source Credit NAN
    Deliver over 2000 abandoned housing projects nationwide Fashola charges FMBN Board
     The Minister of Works and Housing Mr Babatunde Fashola has urged the newly inaugurated management of Federal Mortgage Bank of Nigeria FMBN to revive the over 2000 abandoned housing projects across the country Inaugurating the the new seven member board on Thursday in Abuja the minister charged them to bring their various wealth of experiences to bare in order to reposition the FCMB Fashola told the new board members that it was a huge privilege for them to be among the few Nigerians who were enrolled in the public service Out of hundreds of millions of people but you are among the few to be selected even as there are many more who are better than you but you are chosen So this is not an opportunity for selfishness but an opportunity to help others And my advice is that we are not in our homes we are not in public space but we are people in the public service and we have to work inside a team in order to achieve this aims Those people that we will work with may not speak like us dress like us and neither eat what we eat but they are part of us and if will manage our ego we will realize that these are not different from us So we have a lot to learn from each other and share with each other You help us to solve some of the problems that have to do with access to housing and I want to appeal to you do not become a problem but solve a problem In addition to all your responsibilities I expect you to quickly revive the position of over 2000 housing units at various level of completion under the of federal housing scheme This was started in administrations before us but it is yet to be completed Fashola said He assured the new management of the support from the ministry adding that he would not hesitate to recommend to Mr President to remove any nominee who fell short of a target Fashola told the new board that their four year term was not guaranteed but subject to performance The minister further said that a team would be sent to check the level of completion of the houses and the report would be shared with the board The newly inaugurated 7 man management board of the FMBN led by Mr Hamman Madu assured the minister that the management would ensure an effective efficient and qualitative operation in the next four years as they assume duty Madu the Managing Chief Executive FMBN thanked President Muhammadu Buhari for appointing them into the exalted position of Nigeria s apex Mortgage Institution We are humble and excited to be chosen and to undertake the responsibility Housing is one of the basic human needs and to access housing finance is a critical ingredient in achieving the housing needs of all Nigerians he said He promised on behalf of the Executive Management Team and Board to work harmoniously to reposition the Bank to deliver on its core mandate and meet any emerging challenges Source Credit NAN
    Deliver over 2000 abandoned housing projects nationwide Fashola charges FMBN Board
    General news5 months ago

    Deliver over 2000 abandoned housing projects nationwide Fashola charges FMBN Board

    The Minister of Works and Housing, Mr Babatunde Fashola, has urged the newly inaugurated management of Federal Mortgage Bank of Nigeria (FMBN) to revive the  over 2000 abandoned housing projects across the country.

    Inaugurating the the new seven member board on Thursday,  in Abuja, the minister charged them to bring their various wealth of experiences to bare in order to reposition the FCMB.

    Fashola told the new board members that it was a huge privilege for them to be  among the few Nigerians who were enrolled in the public service.

    “Out of hundreds of millions of people but you are among the few to be selected even as there are many more who are better than you but you are chosen. So, this is not an opportunity for selfishness but an opportunity to help others.

    “And, my advice is that we are not in our homes, we are not in public space but we are people in the public service and we have to work inside a team in order to achieve this aims.

    “Those people that we will work with may not speak like us, dress like us and neither eat what we eat but they are part of us and if will manage our ego, we will realize that these are not different from us. So we have a lot to learn from each other and share with each other.

    “You help us to solve some of the problems that have to do with access to housing and I want to appeal to you do not become a problem but solve a problem.

    “In addition to all your responsibilities, I expect you to quickly revive the position of over 2000 housing units at various level of completion under the of federal housing scheme.

    “This was started in administrations before us but it is yet to be completed,” Fashola said.

    He assured the new management of the support from the ministry, adding that he would not hesitate to recommend to Mr President to remove any nominee who fell short of a target.

    Fashola told the new board that their four-year term was not guaranteed but  subject to performance.

    The minister further said that a team would be sent to check the level of completion of the houses and the report would be shared with  the board.

    The newly inaugurated 7-man management board of the FMBN, led by Mr Hamman Madu assured the minister that the management would ensure an effective, efficient and qualitative operation in the next four years as they assume  duty.

    Madu the Managing Chief Executive, FMBN thanked President Muhammadu Buhari,  for appointing them into the exalted position of Nigeria’s apex Mortgage Institution.

    “We are humble and excited to be chosen and to undertake the responsibility.

    “Housing is one of the basic human needs and to access housing finance is a critical ingredient in achieving the housing needs of all Nigerians,” he said.

    He promised on behalf of the Executive Management Team and Board to work harmoniously to reposition the Bank to deliver on its core mandate and meet any emerging challenges.

    Source Credit: NAN

  •   President Muhammadu Buhari approved the appointment of Ayodeji Gbeleyi as Chairman of the Board of Directors of the Federal Mortgage Bank of Nigeria FMBN Femi Adesina the president s spokeswoman confirmed this in a statement on Friday in Abuja A Chartered Institute of Taxation Chartered Institute Chartered Accountant and Associate Gbeleyi is a well known financial expert who was once a Finance Commissioner in Lagos State said Adesina Mr Gbeleyi who is also a player in the aviation sector replaces Chief Adewale Adeeyo who recently passed away YAYA
    Buhari appoints chairman of Federal Mortgage Bank
      President Muhammadu Buhari approved the appointment of Ayodeji Gbeleyi as Chairman of the Board of Directors of the Federal Mortgage Bank of Nigeria FMBN Femi Adesina the president s spokeswoman confirmed this in a statement on Friday in Abuja A Chartered Institute of Taxation Chartered Institute Chartered Accountant and Associate Gbeleyi is a well known financial expert who was once a Finance Commissioner in Lagos State said Adesina Mr Gbeleyi who is also a player in the aviation sector replaces Chief Adewale Adeeyo who recently passed away YAYA
    Buhari appoints chairman of Federal Mortgage Bank
    Headlines9 months ago

    Buhari appoints chairman of Federal Mortgage Bank

    President Muhammadu Buhari approved the appointment of Ayodeji Gbeleyi as Chairman of the Board of Directors of the Federal Mortgage Bank of Nigeria, FMBN.

    Femi Adesina, the president's spokeswoman, confirmed this in a statement on Friday in Abuja.

    "A Chartered Institute of Taxation Chartered Institute Chartered Accountant and Associate, Gbeleyi is a well known financial expert who was once a Finance Commissioner in Lagos State," said Adesina.

    Mr. Gbeleyi, who is also a player in the aviation sector, replaces Chief Adewale Adeeyo, who recently passed away.

    YAYA