FMBN invests over N197b in 26,000 housing units

The Federal Mortgage Bank of Nigeria (FMBN) says it has invested over N197 billion to deliver over 26,000 housing units in the country since its creation.
The Managing Director of the bank, Arc. Ahmed Musa Dangiwa, stated this at the 2018 edition of ArchiBuilt, an annual exhibition of latest trends, technologies, systems and policy issues in the building industry, holding in Abuja.

Dangiwa said the bank has also collected National Housing Fund (NHF) contributions from individuals, a total of N248 billion out of which N197 billion has been invested to fund new housing units and home renovations across the country.
“We have delivered over 26,000 housing units across the country with 13,953 home renovation loans issued to individuals with over N197 billion invested in these assets,” the MD said.

He said the bank was collaborating with several stakeholders towards increasing its housing delivery.

The collaboration, he said, included one with the Federal Ministry of Power, Works and Housing to speed up housing delivery under a private partnership arrangement.

“We are in collaboration with the Federal Integrated Staff Housing Scheme to deliver affordable houses to federal civil servants,” he also said.

Dangiwa said the bank was also into collaboration with organised labour and the employers’ union on affordable housing scheme that would be rolled out by next month.

Credit: Daily Trust