Kingsley U N Chikwendu —
The Managing Director, Federal Mortgage Bank of Nigeria (FMBN), Mr Madu Hamman at the inauguration of a 25 housing units in Kuje, Abuja said lately, the bank had commissioned several residential houses in eight states across the country, under its housing delivery initiative, developed in collaboration with labour unions.
He said the phase one of the project, developed by Mshel Homes, which was completed for commissioning, is 25 housing units while 35 units would be delivered in the next phase.
“We have several others also completed under this scheme that will be commissioned in due course across the country’s geopolitical zones, Hamman said.
“In this giant stride, we are making an effort to reduce the national housing deficit and also employ Nigerians in all areas of home ownership.
“The commissioning of this estate today is another landmark event to showcase housing ownership initiative of the bank which is the FMBN cooperative society development housing scheme.
“Under this scheme, we fund housing construction for housing cooperative society members, and acquisition of these houses when developed by their members who are regular contributors to the housing funds loan.
“In our own way at the FMBN, we are committed to ensure that Nigerians have access to decent and secure accommodation through affordable mortgage financing especially Nigerians who have limited opportunities”.
Hamman said there was no state in Nigeria today that did not have at least one or two FMBN sponsored Estate.
He added that FMBN had also continued to develop affordable market products and housing development schemes in its effort to exploit all angles and to facilitate mortgage lending and home ownership to Nigerians.
The Chairman Board of Directors FMBN, Mr Ayodeji Ariyo, said the approval and disbursement of the loan for the project was an indication of the Bank’s desire to empower Nigerian’s homeownership via affordable home mortgage financing.
Ayodeji who was represented by Non-Executive Director, Mrs Nkechi Ejezie, said the project was a confirmation of the Bank’s commitment to the welfare and wellbeing of National Housing Fund (NHF) contributors.
“It is therefore a thing of joy for us at FMBN to be associated with today’s event and the Abiskoly Nigeria Limited, the developer of this estate.
“I have no doubt that this project will go a long way in ameliorating the housing needs of members of the subscribers to this estate who are the staff of Human Rights Commission and contributing to the NHF.”
Earlier, speaking at the groundbreaking of the 130 three bedroom terrace duplexes in the Aviation Village, President of Multi-purpose Cooperative Society FMBN, Mr Muhammad Lawal, said the idea to build a functional estate had been a priority of the cooperative.
“When we came on board, our desire was to develop an estate which will project a good image of the bank, provide a decent shelter for our members and set a good example for other developers to emulate.
“N1, 949,805,642.87 was approved as loan by the current Management in favour of FMBN Staff Multi-purpose Cooperative Society Limited under the Cooperative Housing Development Loan Window, for the of 130 units of 3bedroom terrace duplex with infrastructure.
“Our developer has fully mobilised; construction work is going on in strict compliance with engineering standard.
“In three months after the commencement of this project, we have received over 600 names of interested beneficiaries, mainly FMBN Staff and many others from government agencies such as the CBN,” he said.
Lawal, however, appealed to the management of FMBN to consider and approve the phase 2 of the project to construct another 200 housing units to accommodate more citizens.
Both developers were commended FMBN for the opportunity and privilege to be partners in building affordable houses for citizens and reducing the housing deficit in the country.
A total of 10 Nigerians were beneficiaries of the just commissioned houses which are in 2bedroom and 3bedroom detached bungalows.
The completed houses project, a partnership between the Federal Mortgage Bank of Nigeria (FMBN) and Abiskoly Housing Estate for the National Human Rights Commission Cooperative Society.