Coalition thumbs up FMBN over workers -friendly policy

A group, The Coalition of Civil Societies and Media Executives for Good Governance in Nigeria (COCMEGG), has commended the Federal Mortgage Bank of Nigeria (FMBN) for its policy aimed at assisting Nigerians to own houses.
The commendation was contained in a statement issued yesterday in Abuja by its President, Omoba Kenneth Aigbegbele, and Publicity Secretary, Comrade Inuwa Sule.
According to the group, the commendation was “in recognition of the transformational development and giant strides of the FMB, in its appraisal of the bank’s efforts in carrying out its regulatory roles and functions as enshrined in the Act establishing the bank and in making homeownership affordable, available and less cumbersome to the nation’s workers thereby driving the growth of the economy and its allied sectors.” It added that the bank, under the leadership of Arc Ahmed Musa Dangiwa, had raised the hope of Nigerians who desired to own houses.
“The World Bank estimated that Nigeria has a housing deficit of about 17 million units and the FMBN has designed the NHF to mobilise funds to provide the citizens with affordable residential houses through accredited PMBs with the lowest rate possible.
The introduction of the zero equity on loans to workers is a novel initiative commenced by the bank for the implementation of a new approved condition for accessing loans from the National Housing Fund (NHF).
“We commend the paradigm shift from the old to the new and applaud the gigantic development strides in the welfare of staff, development of critical infrastructure as well as maintenance culture of infrastructure adopted by the Dangiwa-led management in keeping abreast of the mortgage industry globally,” the statement read in part.
Continuing, it read: “COCMEGG passes a vote of confidence on the hierarchy of the Federal Mortgage Bank of Nigeria (FMBN), under Arc Ahmed Musa Dangiwa, for its forthrightness, vision and strategies in ensuring that the average workers, middle income earners and the common man in the streets have a home to lay their heads.”