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NHF Scheme

NHF Scheme: FMBN Seeks Partnership with FIRS

“To get non-contributing Corporate Organisations to key into the National Housing Fund Scheme, the Federal Mortgage Bank of Nigeria (FMBN) has sought for partnership with the Federal Inland Revenue Service (FIRS) by accessing its database to obtain list of corporate organisations in the country and enhance NHF Scheme.”- This Day

The Managing Director, FMBN, Ahmed Dangiwa, during a courtesy call on the Management of the FIRS in Abuja noted that the data is required by FMBN to expand its client base, boost NHF collection and increase the Bank’s liquidity in order to provide long term housing finance to Nigerians.

According to a statement issued in Abuja, he said the courtesy call was also part of the efforts of the FMBN to reach out to its customers to sensitise them on the activities of the bank and the benefits of the NHF scheme, which aimed at providing decent and affordable housing to low and medium income group at soft interest rate of 6per cent.

He however lamented that the reluctance by some corporate organisations and state governments to deduct and remit 2.5per cent of basic salary of their workers to the FMBN was having adverse effect on the operations of the FMBN and the NHF scheme, adding that FMBN is presently collaborating with relevant government agencies to enforce compliance.

The Managing Director explained that, “some of the products market by the FMBN to include Cooperative loans, Rent-to-own, Home Renovation Loan and the National Housing Fund Loan. To enhance the affordability status of borrowers, the bank recently reviewed downward the personal equity contribution.”

Responding, the Executive Chairman of FIRS, Mr. Tunde Fowler, assured FMBN of his readiness to partner with the FMBN in meeting its mandate, while also promising to allow the Bank access FIRS database to access list of all corporate organisations with a view to boosting the Bank’s NHF collection.

Source: This Day

One comment

  1. NHF was never statutory? *eyes up
    This partnership is never necessary then because even employees complied and needed help in respect of housing in Nigeria, FMBN & NHF seems not to exist.

    Employer…pls my 2.5% basic as cash investment with reasonable ROI.

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