FMBN records N134bn collection in three years

The Federal Mortgage Bank of Nigeria (FMBN) has said that its cumulative collection on the National Housing Fund (NHF) in three years is N134billion.

It also said that it’s total collecting in 26 years is N366bn.

The bank’s Managing Director (MD), Arc. Ahmed Dangiwa in a statement issued by the Group Head, Corporate Communications, Ahmed Abubakar, said the three-year performance represents 36 per cent of total collections in the 26-year lifespan of the scheme.

He also said that increased public sensitisation has led to a spike in registered contributors to the National Housing Fund (NHF) Scheme.

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He explained that the total registered contributors to the fund in three years is over N5million.

While seeking the support and partnership of the state governors in the provision of affordable housing, he said: “FMBN is strategically positioned to energise state governments efforts to deliver affordable housing to their citizens in a sustainable and cost-effective manner on the back of its wide portfolio of affordable housing products.”

He explained that the partnership will enable state governments to better take advantage of its strategic financing windows for real estate construction and decades-old institutional experience in social housing provisioning.

He said: “This includes stronger support and participation of States in the National Housing Fund (NHF) Scheme, provision of unencumbered land for the execution of strategic FMBN affordable collaborative housing schemes as well as support for the elimination of high costs and systemic bottlenecks to title perfection and Governor’s consent to mortgage transactions at the state level amongst others.”