REAL ESTATE NEWS

Niger State: Mortgage Bank Invests N1.4bn

On Monday in Abuja, Mr Ahmed Dangiwa, the Managing Director of Federal Mortgage Bank of Nigeria (FMBN) said the bank invested N1.423 billion on 402 housing units in Niger State. This was during a courtesy visit by the Deputy Governor of Niger State, Ahmed Ketso.

According to PM News, Dangiwa listed the housing units to include the FMBN/Sintas Estate in Zuba with 92 units and FMBN/Jedo Ministerial Pilot Housing Scheme Estate in Suleja with 102 units. Others include FMBN/Niima Shelter Ltd with 75 units and the FMBN/Sea Mountain Estate also in Minna with 133 units, which was recently commissioned.

The managing director while speaking on the National Housing Fund, (NHF) noted that a total of N249 million has been refunded to 3,549 contributors in line with the provision of the NHF Act.

“We commend the government of Niger State for providing a conducive environment that has allowed such level of investment.

“Niger State was one of the most consistent contributors to the NHF Scheme, but remittances were stopped due to no fault of the Bank.

“We will like to request the recommencement of the NHF contributions in the state,” he said.

Dangiwa called for a partnership with the state government to ensure that its workers purchase available housing units at the FMBN-funded and non-funded housing estates within the state. On issuance of title documents, he called for timely issuance and governor’s consent at concessionary rates to enable FMBN conclude mortgage transactions for housing units in the estates.

He also said that FMBN was ready to sustain its partnership with the state for its physical and economic development, especially in the area of affordable housing delivery.

“We also want to assure workers that all the loan facilities are at the affordable rate of six per cent, while the mortgage loan of five million naira and below and do not attract 10 per cent equity contribution or ten per cent perfection fees,” he said.

The deputy governor assured the bank of its support and partnership, urging the bank to hasten up its housing projects, especially those located in Madalla and Suleja axis of the state.

On recommencement of NHF contributions in the state, Ketso requested that the Office of the Head of Service of the Federation should give the details of why NHF contribution was stopped in the state to allow for resolution.

“We will like to know what led to the suspension and resolve it so that workers will henceforth benefit from the scheme.

He said further that since the present administration came on board, it has been implementing projects which it inherited that are of benefits to the citizens.

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