FMBN urges civil servants to embrace low interest loans

THE Federal Mortgage Bank of Nigeria (FMBN) on Tuesday called on civil servants in Kuje Area Council, FCT to embrace the low interest loans of the bank.

Mrs Shakirat Oyawoye, the FCT, Niger and Kogi Zonal Coordinator of FMBN made the call in Kuje at a sensitisation programme organised for members of staff of the council.

The programme, organised by FMBN was to sensitise civil servants in the council on the need to join the National Housing Fund (NHF) scheme.

Oyawoye said that the call was for the civil servants to take advantage of the six per cent interest rate loans of the bank to own or renovate their houses.

She said that the sensitisation was aimed at bringing the council back to NHF, adding that FMBN had introduced a scheme to assist contributors to renovate their houses.

“Apart from usual loans given to contributors to build their houses, FMBN has introduced house renovation loan to assist contributors to renovate their houses.

“For the renovation loan, the maximum amount that can be given to a contributor is N1millon and you do not need title documents to access it.

“Beneficiaries of the loan must be in continuous contribution to NHF for a minimum of six months and once approved, the money is paid directly to the beneficiary’s account.

“We are here to sensitise and let you know that with 2.5 per cent of your basic salary contribution to NHF, you can own or renovate your house,” she said.

Mrs Felicia Aningo, the FCT Coordinator of FMBN said the sensitisation was already yielding the expected results as most civil servants were already indicating interest.

She blamed the challenges of not embracing the scheme on lack of awareness, adding the response to the renovation loan was impressive.

The FCT Coordinator therefore called on all members of staff of the council to join the scheme so as to enjoy the opportunities other civil servants were currently enjoying.

Mr Alkali Ibrahim, the Head of Personnel Administration of the council commended FMBN for packaging the sensitisation programme.

“If we were enlightened like this before, we would not have withdrawn from the scheme.

“We actually joined the scheme in 1995 but withdrew from it since 2000 because we were not being carried along.

“With this sensitisation, I am very sure good number of civil servants in the council will be interested,” he said.