IN a bid to ensure the timely completion of ongoing housing projects, the Federal Mortgage Bank of Nigeria (FMBN) has stepped up the monitoring and inspection of funded estates across the federation.
The aim is to boost the availability of decent, quality, and affordable housing stock for Nigerians who contribute to the National Housing Fund (NHF) scheme.
Managing Director/Chief Executive, FMBN, Madu Hamman, stated this when he led some officials on an onsite monitoring and evaluation of five project sites in Abuja.
These projects include the Ministerial Pilot Housing Scheme (MPHS) project comprising thirty-two (32) bedroom terrace duplexes at Kafe District, near Life Camp, in Abuja; DPR Multipurpose Cooperative Society Limited housing estate comprising 24 units of 3-bedroom block of flats and 18 units of four bedroom duplexes in Dafe; and DOX Multipurpose Co-operative Society Limited comprising 12 units of two and three bedroom block of flats located in Karsana North Cadastral D05, Abuja.
Others include the Copen Investment Co-operative Society estate comprising two and three bedrooms block of flats and two bedroom block of apartments at Fiindabo District, Abuja; and the Madvan Global Services estate located at Jibi, behind M.D Abubakar Barracks off Kubwa Expressway.
The managing director said the new management team would ensure that developers comply with the approved terms and conditions and deliver the projects on time.
“We are pleased with the level of work on the sites. As a new management, we have prioritized optimizing our project monitoring structures nationwide to ensure that our developers ensure strict compliance with the approved terms and conditions of the housing finance loans that we extend to them to develop those housing projects.
We aim to ensure that all FMBN projects are delivered to good quality and completed on time. This will enable us to package relevant loans for eligible contributors to the NHF scheme to move into their homes,” the MD of FMBN said.
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