N10 billion have been revealed by the Nigeria Police Force to be contributed in remittances to the National Housing Fund since the inception of the scheme.
The Inspector-General of Police, Mr Ibrahim Idris, disclosed the information at the inauguration of the Nigeria Police Mortgage Bank Cash Centre and ATM gallery in Abuja.
Mr Ibrahim said that the aim of the establishment of the bank is to create vital informations to police officers in other to have maximum access to the National Housing Fund.
He also said that the bank had made available police officers with loans at lower interest rates than obtained in other commercial banks.
He pledged transparency and accountability to manage all police investments in order to enhance welfare of personnel.
The police boss said he believed the Nigeria Police Mortgage Bank is strategically positioned to drive their ambitious welfare agenda.
He also said the force would continue to support and encourage teamwork in achieving the welfare objectives of the bank.
The police management would consider ways to encourage and engage other police investments and Institutions to mobilise fund to support the bank.
“Mortgage loans has been disbursed to over 500 police personnel” said the Chairman, Board of Directors of the bank, retired DIG Uba Ringim.
In addition, the bank had also processed over 400 National housing fund loans approved by the Federal Mortgage Bank of Nigeria for personnel and 200 police officers will be beneficiaries with the lowest interest rate .
He said that the cash centres would make the banks easily accessible and available for wide range of products and mortgage services.
The chairman said that for the deployment of three additional ATMs situated in Garki, Wuse and Dei-Dei in Abuja, the bank had obtained approval from CBN.
Reports by NAN (News Agency of Nigeria) shows that the Nigeria Police Mortgage Bank has commenced business in 2015 to provide personnel with affordable and quality housing.
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