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: .
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.
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.
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.
The National Council of Lands, Housing and Urban Development, has urged stakeholders to patronise local raw materials in the construction sector.
This is contained in a communique read by Minister of Works and Housing, Mr Babatunde Fashola SAN, at the end of 11th Meeting of the National Council of Lands, Housing and Urban Development in Sokoto.
The council urged all tiers of governments to access sustainable funding from multinational finance institutions for provisions of affordable q d accessible housing in Nigeria.
Members also urged the Federal Government to form a collaborative mentorship between by world skills international and national experts.
The council advocated for constant training of professional and artisans to reduce shortage in construction industry as well as employment of relevant professionals for effective coordination in the sectors.
The meeting urges the federal government and relevant stakeholders to formulate a national policy on skills development as an important means of addressing economic outlook of communities, disadvantaged youth and people with disabilities.
The council also urged government to recapitalise the Federal Mortgage Bank of Nigeria (FMBN) and build it’s capacity to the standard of similar world class institutions to take charge of housing development, finance and advocacy.
The meeting encouraged governments at all levels to promote community education on appropriate and sample techniques for flood control and water conservation.
Participants also encouraged governments at all levels to participate in National Housing Fund (NHF) schemes and need for viable mortgage system that would strengthen home ownership where rent payment would lead to owning a house.
The council advised state governments and other relevant professionals to collaborate with National Population Commission (NPC) in the forthcoming population and housing census exercise.
Fashola said the recommendations were among the the deliberations made by the participants from the 36 states land and housing ministries, FCT, NGOs, institutions and professional bodies.
The minister said the no fewer than 74 Memoranda submitted were reviewed comprising nine actionable while 65 were formatives.
According to him, the council meeting tagged ” Housing Our People, By All Government and All Our People ” was to adopt policy measures towarda addressing key challenges of the sector for accelerated housing development and job creation.
In a keynote address at opening of the meeting, Fashola commended Sokoto state government led by Gov Tambuwal to supporting the council meeting and acknowledge the developmental projects executed by Gov Tambuwal which have direct bearing in the citizens.
He said the National Housing Programme initiated by the Ministry at the onset of the President Muhammadu Buhari led administration is now delivering on its objective.
” Apart from stimulating the economies of the 34 states and the FCT in the communities where work is being undertaken for the construction of houses, by providing work for artisans, builders, engineers, and other skilled persons in the built industry.
” The construction sites have been and remain centres of supply for building materials and other commodities.
” Many people who hitherto were unemployed have had their dignity restored because they can leave home every day saying to their families ” the Minister said.
He noted that there are others scheme by the Federal Housing Authority (FHA) by way of direct construction in various states, just as the Federal Mortgage Bank has financed the construction of about 6000 housing units at various stages of completion.
” Similarly, the Federal Government has increased its financing intervention support for housing through the Federal Mortgage Bank by increasing the number of mortgages that have been issued and reducing the equity contribution requirement to make it more accessible ” Fashola added.
Earlier in his address, Gov. Aminu Tambuwal of Sokoto state described the meeting as crucial in recognition of the need for government, private sector and bodies to collaborate and approach housing issues for the benefits all people.
Tambuwal noted that housing issues are global concern despite minor variations, successive governments in Nigeria have made efforts address issues on housing challenges.
He urged council to further examine the presentation compile by experts to find reasonable solutions to the challenges of housing delivery.
The News Agency of Nigeria reports that permanent secretaries from states led byfFederal ministry of works and housing, Mr Bashir Alkali, Directors, professionals and other dignitaries in housing development assembled within the last three days brainstormed on different issues.
Minister of Works and Housing, Babatunde Fashola, on Wednesday said the Federal Housing Authority (FHA) had since inception delivered 45,000 housing units in 81 estates across the country.
The News Agency of Nigeria reports that FHA is one of the agencies under the Ministry of Works and Housing saddled with the task of addressing the housing needs of Nigerians, particularly federal government workers.
Fashola, who briefed State House correspondents at the end of the 24th virtual meeting of the Federal Executive Council (FEC), said he presented over a 280-page report to the Council on the ministry’s interventions in the housing sector so far,
The meeting was presided over by President Muhammadu Buhari at the Council Chamber of the Presidential Villa, Abuja.
The minister further disclosed that the ministry had completed additional 186 housing units, while 2,300 others would soon be completed.
He revealed that the ministry had also made the process of obtaining Certificate of Occupancy (C of O) easier for those who prefer to build their own houses, saying a total of 3,290 C of Os had been given out in recent times.
According to him, any worker who contributes to National Housing Fund (NHF) domiciled in the Federal Mortgage Bank of Nigeria for six months is qualified to access the fund to buy houses of their choice.
He added that main reason physical assets were not allowed as collateral for accessing loan to buy or build houses was because anyone who desires to access the NHF must be a certified contributor to the housing fund.
He, therefore, advised those who want to obtain loan to build their houses to always ensure that their landed property must have titles.
Fashola said his ministry also updated Council on the progress of works in the various Federal Secretariat projects in Gombe, Benue and Ekiti states, among others.
The Minister of Health, Dr Osagie Ehanire, who also fielded questions from the correspondents, linked the reported strange deaths in Delta and Enugu States to yellow fever.
He said: “Yes, there was an outbreak that started in Delta and was found in Enugu and then two other states making it a total of four states.
“The analysis we have done so far shows it is yellow fever. So the response has been going on from National Center for Disease Contry (NCDC), vaccination is going on in all these areas.
“Few days ago, there was also a report from a member of the National Assembly saying that in his constituency there is unexplained illnesses and deaths and that alarm also immediately triggered a response.’’
He said already the Nigeria Center for Disease Control had been directed to go and carry out investigation.
“As we speak they have to collect samples, do tests and do some laboratory investigations before we are sure exactly what it is and what the cause is.
“So, the response is going on automatically and we shall get result very soon.’’
The News Agency of Nigeria reports that Enugu State has been battling to contain the outbreak of the disease in two communities – Ette Uno and Umuopu – in Igbo-Eze North Local Government Area of the state, but it has now spread to Nsukka and Isi-Uzo.
Delta State had recently reported that no fewer than 22 deaths were recorded in Ika North East Local Government Area of the state due to the outbreak of the disease.
Meanwhile, Ehanire and the Minister of Water Resources, Alhaji Suleiman Adamu, also told the correspondents that they briefed Council on their interface with stakeholders in their respective states as regards #ENDSARS protests.
Edited By: Wale Ojetimi
The Lagos Building Investment Company (LBIC) Plc says it is intensifying processes to ensure that civil servants in Lagos State have access to funding and own homes.
The Chairman of LBIC, Mr Hakeem Ogunniran, said this on Wednesday while speaking to journalists after paying a courtesy visit to Gov. Babajide Sanwo-Olu at Lagos House, Ikeja.
Ogunniran said that the company was ready to key into Gov. Sanwo-Olu administration’s T.H.E.M.E.S. developmental agenda, especially in the area of affordable housing for Lagosians.
He said that his company would build a framework to support the Lagos state government in delivering its promises to the people of the state.
“We are on a courtesy call on the governor, first, to appreciate him for giving us the opportunity to serve and also to share with him our vision and programmes, and how we want to work with the government to key into the developmental agenda of Lagos state.
“As FBIC, we understand that housing is at the root of all the programmes of Lagos State and we have a programme in place. First is to focus on our core business, which is mortgage banking.
“Recently, Lagos state returned to the National Housing Fund (NHF) and we are grateful that the state government has appointed our bank – FBIC – as its sole mortgage provider, so we are the default mortgage provider for all civil servants in Lagos state.
“So we are creating the framework to implement that. We already have funding from the Federal Mortgage Bank of N1 billion and we need to begin to see how civil servants in Lagos state will be able to access that funding and own their homes,’’ Ogunniran said.
He also said that LBIC had an ongoing programme at Surulere, some 340,000 housing units, which would add to the stock of housing in Lagos state and further reduce the deficit.
“We have started a PPP programme. The other element of our programme is to unlock value in our asset, which is sitting either on our own direct asset or the Lagos state government asset.
“So as a board, we understand the significance of our role and our plan is to work with management to ensure that we build a framework that enables us to support the Lagos state government to deliver its promise to the citizens,” he said.
Also speaking, the Managing Director of LBIC, Mr Tobi Lawal, said that the company would provide mortgage for housing in Lagos State, particularly for civil servants and citizens of Lagos state.
“For us, there is a revolving fund which the governor just mentioned. This fund is going to be created in such a way that people, particularly the civil servants, will have access to money, facility to buy those houses that they like to buy and in such a way that the proceed of that sale will be invested in building another housing for other people.
“So for us as a primary mortgage bank, we are ready to perform our role in this regard and I can assure you that not only in terms of money that we are providing, even speed, that the process be so fast. Such that the housing you need today, the money is paid yesterday.
“I am using this medium to appeal to every citizen who wants a house of their own that they should come to FBIC for the needed mortgage facility,” Lawal said.
Edited By: Chioma Ugboma/Idonije Obakhedo
Edited By: Chioma Ugboma
Mr Tobi Lawal, General Manger, Lagos Building Investment Company (LBIC), has advised staff of the Lagos State Materials Testing Laboratory (LSMTL) to imbibe virtues of accountability, commitment and transparency.
Lawal, in a statement by Mrs Eloho Aggreh, Spokesperson of the LSMTL, gave the advice at a meeting with management staff of the agency at its headquarters in Ojodu-Berger on Wednesday.
He urged them to be dedicated to duty and put in their best, because they had the productive capacity to keep up with the agencies, revived vigor to drives its mandate of zero tolerance for construction failures in Lagos State.
““You have all it takes to move this agency to greater heights and increase the Internal Generated Revenue (IGR); do not short change the government or engage in shoddy practices.
“There should be accountability, commitment and transparency. You should be proactive, creative and support the leadership,” Lawal said.
He said that success was not about amassing wealth, but impacting and inspiring people.
The general manager told the workers that LBIC had also come up with designed packages that would soon be unveiled to suit civil servants’ quest to own homes.
Lawal promised to assist them to benefit from the house ownership opportunities of the National Housing Fund (NHF) schemes.
He encouraged them to embrace the scheme, promising that his officials would come back to guide them further on the procedures.
The general manager commended the dynamic leadership of the General Manager of the Lagos State Materials Testing Laboratory, (LSMTL), Dr Afolabi Abiodun, which had improved operations of the agency.
“In the last few months, since he came on board, there has been tremendous change and increase in the agency’s revenue.
“He is a leader with a listening ear, who runs an open door policy,” Lawal said.
Responding, Abiodun thanked Lawal for his time and words of encouragement to members of the staff.
Abiodun expressed joy for the opportunity to pass through the Lagos State Government Civil Service system.
Edited By: Kamal Tayo Oropo/Olagoke Olatoye (NAN)
Ogun Government, says the second phase of its ongoing construction of Dapo Abiodun Residential Area “Prince Court Estate” of 150 housing units at Kemta, IdiAba, Abeokuta will be delivered soon.
Acting General Manager, Ogun State Housing Corporation, Wale Ojo, made this known to newsmen in Abeokuta on Thursday.
Ojo said the corporation had been mandated to ensure massive housing development and make land services availability to people at a very good rate to forestall housing challenges across the state.
He said that housing “is one of the key mandate of this administration’’.
“The government is addressing very quickly, the issue of land acquisition, home and housing development.
“You will recall that 130 housing units out of the 450 units proposed for the project have been completed,’’ he said.
The acting general manager noted that apart from Ogun central senatorial district, similar development would be replicated in other senatorial districts of the state such as Sagamu, Ilaro, Ijebu, Ota and Ibafo.
He added that the state government was making necessary arrangements to facilitate access to housing funds for the state workforce at an interest rate of six per cent.
“National Housing Fund (NHF) is the policy of Federal Government to provide mortgage to people at an interest rate of six per cent but unfortunately, individual cannot approach Federal Mortgage Bank to access the fund.
“There is need for intermediary, known as primary mortgage banks.’’
According to him, the primary mortgage banks have been given directives to facilitate funding for the workforce of Ogun government.
He implored Ogun residents to take adequate advantage of the housing scheme to become homeowners under the state’s massive housing development.
Edited By: Chioma Ugboma/Abdulfatah Babatunde (NAN)