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FRSC workers get N3 billion mortgage loan 


FRSC Boss, Boboye OyeyemiPHOTO:

The Federal Road Safety Corp, FRSC has put in place modalities aimed at providing 20, 000 affordable housing units for its employees.

In addition, the Corp is mobilising resources for the completion of abandoned Lokogoma Housing estate so that they would be able to fulfill its slogan of ‘one man, one house.’

Dr. Boboye Oyeyemi, Corps Marshal of FRSC, made the revelation at the presentation of cheques to 640 beneficiaries of Federal Mortgage Bank of Nigeria Home Renovation Loan in Abuja.


He said that they’ve planned to make sure staff have houses after retirement from the service, and this has been the driving force to upset debts and to build housing units in Calabar, Enugu, Gombe, among others.

Oyeyemi also added that the remaining workers would soon own houses at the location of their choice, “we are making progress in this direction. We are the highest benefitting from the gesture.”

According to him, “We are ready to take more loan for our workers since it is a single digit interest, and still have N148 million to disburse to as many workers as possible.”

He therefore thanked the FMBN for supporting them by making the loan available to the beneficiaries, and promised to work with institution to realize the dream of affordable housing for the staff.

On his part, Ahmed Dangiwa, managing director of the bank said they are key player in housing and construction finance sector with mandate to provide mortgagee to Nigerian workers.

He explained that the package was aimed at low and medium income earners through National Housing Fund (NHF) scheme, adding that it was sourced from 2.5 per cent of basic income of workers.

“We are giving out of N640 million. This brings total disbursement to FRSC to N1.2 billion for 1,207 workers, and in addition to N1.8 billion approved for 195 staff as mortgage loans to purchase houses.”

He added that a total of N15.7 billion has so far been disbursed to 19,169 beneficiaries under Home Renovation Loan Window to deliver affordable houses for workers in every state of the federation.

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Boboye OyeyemiFRSC
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