The Federal Mortgage Bank of Nigeria (FMBN) has reaffirmed its dedication to delivering high-quality houses in its quest for inclusive and affordable housing solutions for Nigerians.
This assurance came from the Managing Director of the bank, Shehu Osidi, during a recent interaction with journalists.
Osidi reiterated the paramount importance of housing quality, highlighting the bank’s strategic decision to engage in direct construction financing.
According to him, by financing developers, the bank aims to ensure that housing projects meet rigorous standards, thus enhancing the overall quality of available housing stock.
“When you are required to provide mortgages, it is perceived that houses exist.
The type of housing that exists is a very critical question to answer, and because we want to be very particular about the standards of houses that are constructed…
“Part of the reasons why the bank decided to venture into direct construction financing for developers, which means that we have a strict list of standards that developers must meet before they qualify to access our facilities, and then we take project monitoring very seriously,” Osidi stated.
READ ASO: New FMBN Managing Director Pledges Transparency and Collaboration in Inaugural Address
He further stressed that housing affordability is a critical aspect of achieving inclusive housing. Osidi restated the bank’s commitment to providing affordable mortgages to low and middle-income earners, ensuring accessibility for all Nigerians.
