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Nigeria: Federal Mortgage Bank disburses N643m to 740 civil servants
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By Adesanya Alao
August 8, 2017 02:25:57am GMT      |      Views: 991
Abuja City Gate

WorldStage Newsonline-- As part of efforts to ensure public servants have access to mortgages either for home construction or renovation as contained in Section 14(2) of the National Housing Fund (NHF), the Federal Mortgage Bank of Nigeria (FMBN) has disbursed N643 million to 740 public servants for renovation of their homes.

The FMBN Managing Director, Architect Ahmed Dangiwa, speaking at the disbursement in Abuja on Monday explained that FMBN Home Renovation Loan allows existing home owners easy access to maximum of N1 million subject to income limit of the beneficiaries and cost of the renovation.

According to him, partnerships with the Office of the Head of Service of the Federation (HoSF) and Federal Government Staff Housing Loans Board (FGSHLB), made disbursement of the N643 million a reality.

Describing the loan as fifth among the batches, Dangiwa said about N1.2 billion has been approved and disbursed by the FMBN to 1,347 beneficiaries through the current loan window.

He said, “It is worthy to mention that some of the beneficiaries under this batch have realdy started receiving alerts for their loan disbursements.

“It may interest you that the total sum of N3.35 billion has so far been disbursed to 4,342 beneficiaries across the country, for both federal and State civil servants as well as employees of the organized private sector.”

He lauded the FGSHLB and the Head of Service, Winifred Ene-Ita of her commitment to providing affordable housing to the civil servants.

Earlier, Ene-Ita disclosed that if the government could provide adequate housing for the public servant, it would reduce significantly statistics of home deficit in the country.

The head of service expressed optimism on the impact Federal Integrated Staff Housing (FISH) programme would create to addressing housing deficit in the country.

The Executive Secretary, FGSHLB Dr. Hanatu Fika, said the increase in affordable homes would reduce cost of rents and eradicate perceived corrupt practices among the civil servants.

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