The Federal Mortgage Bank of Nigeria (FMBN) has initiated moves to get the pan-African housing agency – Shelter Afrique Development Bank to fund its rental housing and development of student hostels in the country.
FMBN Managing Director, Shehu Osidi, who made this known at its management retreat in Suleja, Niger State, explained that there are positive indications that most of the pending issues with the regulatory agency will be resolved including the single obligor limit.
Osidi also disclosed that the bank is reviewing its relationship with the Central Bank of Nigeria (CBN) on the approval of all pending yearly accounts as part of its strategic engagements. “We want to take a close look at our operational efficiency such as our customer service delivery undertakings. The retreat is not only to reflect on our achievements and challenges but also to drive a solution-oriented dialogue and effective customer service delivery,” he said.
He further explained that the meeting is both timely and relevant; with the realisation that their work has significant implications for national development, adding, “It is imperative that we continually refine our processes and service delivery endeavours to maximise our impact.
“In the financial landscape, our ability to adapt, innovate, and optimise our operations is key to fulfilling our mandate of providing affordable housing units to millions of Nigerians. Our focus is to review current business growth trajectory and operational efficiency for solutions.”
He said the bank has recovered N12 billion out of the N19 billion trapped in 40 per cent deductions from the National Housing Fund (NHF) by the Office of Accountant-Generation of Federation through the Minister of Finance.
“With this strategic goal, we have started the process of on-boarding a robust performance management system that will monitor, analyse and measure the deliverables. This will enable us to accelerate the delivery of affordable housing across Nigeria,” he added.
MEANWHILE, the Federal Government has signed a Memorandum of Understanding (MOU) with Shelter Afrique Development (ShafDB) for the construction of 5,000 housing units under the Renewed Hope programme.
Signing the pact during the Ministerial Press Conference in Abuja, Minister of Housing and Urban Development, Ahmed Dangiwa, stated that the bank will offer advisory services and finance competent developers.
Dangiwa said: “This will be the first time that the ministry is entering into such a practical and direct partnership with a multi-lateral institution for the construction of homes for Nigerians.”
“When we assumed office, we developed an action plan in line with the presidential priorities and deliverables. This was necessary to guide the implementation of reforms and initiatives that will increase access to affordable housing for Nigerians, unlock the potential of the housing sector to contribute to economic growth and improve urban landscape.”
Responding, the bank’s Managing Director, MrThierno Habib Hann, appreciated the gesture of working with the Nigerian government in the provision of housing.
Earlier, the Permanent Secretary, Dr Marcus Ogunbiyi, commended the media for their consistency and commitment to the ministry’s activities, promising to work with them as partners in progress.
