FMBN, company inaugurate 28 flat units in Lagos

The Federal Mortgage Bank of Nigeria (FMBN) and Cocoon Atlantic Housing Estate, a housing solution company, on Friday inaugurated a 28-unit of flats estate in Sangotedo area of Lagos State.

Speaking during the inauguration, Mr Madu Hamman, Managing Director, FMBN, said the delivery of the housing estate was part of the Federal Government’s commitment toward reducing housing deficit in Nigeria.

Hamman was represented by Mr Ibrahim Nafada, General Manager/Zonal Manager in charge of Lagos, FMBN.

He said that the successful delivery of the project was achieved through the bank’s Cooperative Housing Development Loan window.

According to him, the window allows contributors to the National Housing Fund (NHF) scheme through their Cooperatives to have access to affordable housing.

Hamman noted that many Cooperatives had embraced the window because of their numbers.

He said, “Today, being the 5th of May, 2023, we are here to commission Cocoon Atlantic Housing Estate, funded by the Federal Mortgage Bank of Nigeria (FMBN).

“Yesterday, which was 4th of May, we were somewhere at Sagamu, precisely Emuren Community, where we commissioned more than 70 housing units for Lagos state civil servants.

“The commissioning was graced by a lot of dignitaries from the Lagos State Government, the national level as well as some of the beneficiaries of the housing units.

“This is a mini estate with just 28 flats with mortgage financing and eight beneficiaries.

“There is a land close to the estate that we are going to open up for second phase. It is going to have more numbers of beneficiaries.”

Also, Mr Farouk Imam, Managing Director, Cocoon Atlantic Housing Estate, said the inauguration was due to the dedication and patience from FMBN management, staff and enthusiasm from the company’s partners, Comaco Cooperatives.

Imam said that the apartments were not just an epitome of safety, but a comfortable dwelling place for Nigerians.

“We are confident that each apartment will have tremendous impacts on residents who call it home.

“We have decent housing at affordable rates, stable environment for nurturing and growth of family.

“These apartments will not only provide shelter but foster a sense of community where residents can build socio-economic relationships and create memories to be treasured,” he said.

He commended the FMBN for ensuring that Nigerians continued to have access to decent and secure accommodation through affordable mortgage financing.