Kingsley U.N. Chikwendu —
In a move to to ensure effectiveness in project planning and execution, timely implementation of its 5-Year Strategy Blueprint, the Federal Mortgage Bank of Nigeria (FMBN) recently inaugurated a Strategy Project Management Office (SPMO).
The FMBN’s Strategy Blueprint which was approved in 2020, aims at repositioning the bank in respect to its operational efficiency and enhanced service delivery, while consolidating its position as the leading provider of affordable housing to Nigerians.
The Strategy timelines and targets were revised at the Board and Management Retreat held in August 2022 and approved for implementation from 2022 to 2026.
Under the Plan, FMBN targets financing the construction of 200,000 additional affordable housing units comprising 50,000 mortgages and 150,000 loans/houses through other windows. The Bank also aims at increasing the number of contributors to the National Housing Fund (NHF) Scheme.
