FMBN plans 130-unit houses for workers in Abuja

The Federal Mortgage Bank of Nigeria (FMBN) has performed a ground breaking ceremony for the construction of 130 houses in conjunction with Mshel Homes Limited through its Staff Multi-purpose Cooperatives Society Limited, in the Federal Capital Territory.

Chairman, FMBN Board of Directors, Mr. Ayodeji Gbeleyi, who laid the foundation, said they are committed to ensuring Nigerians have access to decent accommodation through affordable mortgage financing for low and middle income earners in the country.

Represented by Mrs. Nkechi Ejezie, he also said approval and disbursement of the loan for the project is an indication of the bank’s genuine desire to continue empowering Nigerians in the area of homeownership through home construction and mortgage.

He declared: “We are using this to drive home affordable accommodation through the Cooperative Housing Development Loan window with which the bank finances houses for contributors to the National Housing Fund (NHF), to enable them buy their own apartments.

“This past month, we have started the commissioning of 1,400 housing units delivered in 14 states across the six geopolitical zones under the Phase I of the Nigerian Workers Affordable Housing Scheme. We also commenced 2,5000 units at 180 per state of the federation.”

Managing Director of the Bank, Mr. Hamman Madu, explained that they have commissioned several residential housing estates in eight states in collaboration with the Nigerian Labour Congress, Trade Union Congress and Nigerian Employers’ Consultative Association.

“The giant stride we are making nationwide is aimed at reducing housing deficit and empowering Nigerians at all levels to develop affordable products and schemes to grant at least six per cent to those subscribing to our NHF,” he remarked.

Also speaking, the Group Managing Director, Mshel Homes Limited, Baka Mshellia, said it plans to provide affordable homes to low-income earners , saying, “we intend to keep the passion of the bank by constructing quality housing units.”

The President, Staff Cooperative Society, Muhammad Lawal, said the idea of building a serene, aesthetic and functional estate has been one of their priorities.

Lawal hinted that N1.9 billion was approved as loan by the management for the construction of 130 units of three bedroom terrace duplex with infrastructure, stressing that three months after the commencement of the project, they received over 600 interested beneficiaries.

REDAN Executive Secretary,Yunusa Shuaibu, called for recapitalisation of the bank for effective service delivery to Nigerians, adding that the apex mortgage institution can achieve much if more funds are injected into the system.

Meanwhile, Minister of State for Transportation, Prince Ademola Adegoroye, has commissioned a 60 housing units jointly constructed by FMBN and Abiskoly Housing Estate for members of National Human Rights Commission Cooperatives Society located at Peggy, Kuje, Abuja.