We’ve refunded N21.4 bn NHF to retirees – FMBN

Fe d e r a l Mo r t g a g e B a n k of Nigeria (FMBN), said it refunded over N21.4 billion National Housing Fund (NHF) to 216,650 retirees across the country.
The Managing Director, Arc. Ahmed Musa Dangiwa, disclosed in Abuja at the September Lunch Time Reform Seminar on “The Challenges Facing Civil Servants in Obtaining Loan from FMBN and how to Access Contributions on Retirement from the Civil Service.
Dangiwa said there are 22,653 registered organisations, 4 , 6 9 9 , 5 0 3 r e g i s t e r e d contributors, 1,110 cooperative societies and 21,853 cooperative members with the bank.
“ We h a v e a t o t a l o f N185bn credit disbursement, construction of 26,002 housing units financed, 18,476 NHF mortgage loans granted to NHF contributors, 13,993 housing micro-loans of about N11.5bn disbursed.
Over N21.4bn paid back to 216,650 retirees,” he said.
Dangiwa, who listed some challenges the bank was facing to include, accessing title documents, low earning capacity of civil servants, requirement for personal stake, loan processing delays from other mortgage banks and delays in processing of applications by FMBN.
Meanwhile, the Acting Director General, Bureau of Public Service Reforms, BPSR, Mr. Dasuki Arabi organizer of the forum, said about 80 per cent of Nigerians are without adequate housing.
He, however, called for collaboration between the public and private sectors to make the