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FMBN backs 208 housing units in Delta

The Federal Mortgage Bank of Nigeria (FMBN) has promised to complete the College of Education Warri Senior Staff Multi-Purpose Cooperative Society Housing Estate, Ekpan, Delta State in a record time.

FMBN Managing Director, Ahmed Musa Dangiwa, stated this at the weekend while laying the foundation stone at Adijedo Ekpan.

Represented by FMBN Zonal Port Harcourt Manager, Mr. Victor Okosun, Dangiwa expressed satisfaction that FMBN has broken a jinx by starting a project of that magnitude in South-South zone.

“Indeed it is a laudable project and the Bank is very delighted to be partnering with the developer – Design Built Associates and hope to see that the project is completed in record time.

“The project is a 208 unit housing estate of 2 bedroom fully detached bungalows which can be modified into a 3 bedroom bungalow by the beneficiary in future. The estate will also boast of good infrastructural facilities like; good and accessible road network, good drainage system, uninterrupted steady power supply as a 1.5 megawatt solar energy facility will be installed, clean and treated water supply, schools among other facilities.

“As at December 2019, FMBN has disbursed about N86 billion. This has helped achieved 7,740 housing units, about 3,800 mortgage loans and about 40,000 housing microloans which is commonly referred to as the FMBN Home Renovation Loan (FHRL), he said.

Mr. Cyril Osayande Oyakhilome, chief executive of the Design Built Associates commended the leadership of FMBN for heeding the invitation to lay the foundation stone, noting that with the support of FMBN the project will be completed in a short term.

“The achievement today of the Senior Staff Multipurpose cooperative society of the College of Education Warri is a testimony of the fact that perseverance and hard work results in success.


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