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Nigerian workers get over N190b mortgage loans in 20 months

Managing Director of Federal Mortgage Bank of Nigeria (FMBN), Ahmed Dangiwa, on Wednesday, revealed that a sum of N193.4 billion mortgage loans had been disbursed to 18,935 Nigerian workers.

Dangiwa, who stated this, in Abuja, at the launch of FMBN’s digital platforms, noted that this was done in collaboration with Nigerian Labour Congress (NLC), Trade Union Congress (TUC) and Nigeria Employers Consultative Association (NECA).

The banks managing Director, who assumed office in April 2017, explained that the disbursement of N41billion for creation of mortgages brought the total mortgage loan disbursements by the bank to N193.4 billion since inception.

He added that the disbursement of N16 billion Home Renovation Loans to 16,031 beneficiaries under the National Housing Fund (NHF) brought the total beneficiaries of the loan to 22,975.

The FMBN boss also said the bank, since inception, had refunded N23.3 billion to 229,820 retirees who have exited from the scheme.

While launching the FMBN digital platform in order to demonstrate accountability and transparency in the management of NHF, Dangiwa said the bank has adopted the philosophy of using fully automated, end-to-end IT business processes.

Credit: Sunnewsonline

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