The Federal Mortgage Bank of Nigeria Managing Director, Ahmed Dangiwa, on Monday in Katsina, disclosed that the bank had so far ‘given out over N297.7bn under its various windows’ in the National Housing Fund scheme.
He said, “You will recall that the National Housing Fund Scheme, established by Act 3 of 1992, was created to serve as a pool of long-term funds for housing delivery, funded by 2.5 per cent of workers’ monthly income and mandatory investments of percentages of the business portfolios of banks and insurance companies.
“A sum of N50bn has also been disbursed under the FMBN Home Renovation Loan window to 67,448 beneficiaries as at May, 2021. According to Dangiwa, FMBN had also funded twelve estate development projects in the sum of N6.2bn for the construction of 1,358 housing units in Katsina State.