FG to reposition Federal Mortgage Bank

Th e federal government has pledged to re-position the Federal Mortgage Bank of Nigeria (FMBN) to be able to meet the mortgage needs of Nigerians. Th e government said the FMBN as a pivotal organ of government in the quest to meet the housing needs of Nigerians the body is being refocused to make access to loan facilities less cumbersome for Nigerians.

Minister of State for Power, Works and Housing, Alhaji Mustapha Shehuri, disclosed at the inauguration of a 133- unit housing estate, under the National Housing Fund (NHF) in Minna, Niger. Accordingly, he appealed to workers in the public and private sectors to feel free to contribute 2.5 per cent of their monthly income. “It must be noted that the FMBN, being the apex mortgage institution in Nigeria, has a pivotal role to play in the actualisation of the aspirations of many Nigerians, to own a home through mortgage.

“I wish to reaffi rm the resolve of this administration to lend its full support to FMBN and ensure that it is adequately-recapitalised and re-positioned, to cater for the mortgage needs of Nigerian workers,’’ he said. “It is my delight to commission this 133-unit housing estate, because every government has the responsibility of addressing the welfare of its people.

“It has been a matter of utmost priority for this administration to provide aff ordable housing to the teeming Nigerian populace,” Shehuri said adding that the estate was fi nanced by the FMBN and developed by Sea Mount Nigeria Limited, Minna.

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