The Managing Director of the Federal Mortgage Bank of Nigeria (FMBN), Madu Hamman has in a meeting held with delegates of Kebbi State University of Science and Technology (KSUST), led by its Vice Chancellor, Professor Bala Aliero, expressed willingness to support the University’s efforts in providing affordable housing for its staff.
The meeting was recently held at the Bank’s corporate headquarters in Abuja, the Nigerian capital.
Mr. Hamman said the enhanced collaboration with the university would help staff who are registered contributors to the National Housing Fund (NHF) Scheme leverage FMBN’s robust portfolio of affordable housing products to own their homes.
He stated that it includes the Cooperative Housing Development Loan (CHDL), which enables organized groups with land to develop houses for members. Under the CHDL, FMBN provides housing construction financing to reputable developers at a 10% interest rate with payment periods of up to 24 months.