The Inspector General of Police, Ibrahim Idris, has inaugurated the police housing scheme in the Ajoda area of Ibadan, Oyo State, saying the initiative is to enhance the performance of the men and women of the police force and help them resist corrupt practices or being compromised.
Idris, who was represented at the event on Friday by the Deputy Inspector General of Police in-charge of administration and finance, Mr. Maigari Dikko, said the project, which would cost N10bn, was one of the promises of President Muhammadu Buhari’s administration to fight corruption in the police system. Already, some of the completed units in the housing scheme had been allotted to subscribers.
The project was said to be a product of the partnership between the Nigeria Police, Cooperative Mortgage Bank and Cooperative Property Development Company Limited.
Idris said, “Another estate in Mbora District of Abuja was commissioned on April 24, 2018. These houses are being sold to police officers of all ranks at affordable prices through mortgage financing to be paid within a specified period.”
As a result of the capital-intensive nature of housing delivery, the Nigeria Police has to partner various developers and financial institutions to tackle the challenges created by inadequate financing.”
He stressed that under his administration as the IG, construction of post-retirement housing units for police officers across the country had also begun.
Acting Chairman of CMB, Mohammed Ibrahim, who was represented by Executive Managing Director of the bank, Kabir Tukur, said the commencement of the scheme marked a watershed in the history of home-ownership in Nigeria.
He said it was part of the company’s vision to provide quality and affordable houses for Nigerians in all the state capitals, saying more than 7,500 units of houses would be dedicated to police welfare in Ibadan, Lagos and Abuja.
He said, “For the commencement of this project in Ibadan, we are offering two per cent interest discount for the first 500 subscribers in the scheme. It is worthy of note to mention that we have invested over N10bn into this project. On quarterly basis, we shall be delivering about 250 housing units. This is just the beginning of affordable and comfortable living.”