105 Naval Officers to Benefit From N620 Million Mortgage Scheme – FMBN

About 105 naval personnel contributing to the National Housing Fund ( NHF) would benefit from mortgage scheme set aside by the Federal Mortgage Bank of Nigeria (FMBN) to facilitate home ownership in Nigeria.

The Managing Director/Chief Executive Officer of FMBN, Mr. Gimba Ya’u Kumo stated this Wednesday when he led a management team on a courtesy visit to Defence Headquarters in Abuja.

He noted that FMBN has disbursed the sum of N471.922million to about 86 naval personnel from the NHF contribution.

While disclosing that FMBN was processing additional approved N102.2million for disbursement to other contributors, he noted that additional loans of N45.9 million was also processed for approval.

He described Nigerian navy as one of FMBN’s strategic partners under the NHF saying that FMBN is desirous of contributing to the welfare of security personnel especially the navy in providing decent housing.

The MD stated that FMBN was committed to improving service delivery by developing new products like NHF e-Collection Platform, Informal Sector loan to cater for 85 per cent working population, FMBN Home Renovation Loan and NHF Mortgage Scheme for Nigerians in Diaspora.

He maintained that FMBN also provided NHF loans to civilian off-takers of the Naval Housing Estate in Kurudu.

Responding, the Chief of Naval Staff, Vice Admiral IE Ibas called on FMBN to assist in bridging the 60 percent housing deficit existing in the organisation even as he pledged his readiness to support the bank towards achieving it’s goals.