The Federal Mortgage Bank of Nigeria (FMBN), in collaboration with the Nigeria Labour Congress (NLC), commissioned 100 housing units for civil personnel in Sokoto State on Monday.
Speaking at the low cost behind Giginya Baracks venue of the event, the managing director of FMBN, Mr. Madu Hamman urged civil servants to key into the NHF, which is a mandatory contribution scheme that requires Nigerian workers in both public and private sectors. TRepresented by the Executive Director Finance and Corporate Services Zubaida Umar, Hamman said the commissioning is an affirmation that the NHF scheme is meeting its mandate of providing access to homeownership to the overriding majority of the middle and low-income working class in Nigeria who is also the commanding majority of the contributors to the NHF scheme.
He noted that FMBN has provided the construction funds for the development of the housing estate at a concession interest rate of 10%, and provides mortgage financing for the purchase of these houses to buyers at the rate of 6 per cet, which is also the lowest interest rate in Nigeria with a repayment period.
He observed that under this phase, the bank is delivering 40 units of 3-bedroom semi-detached bungalows at N8.3 million and 36 units of 22-bedroom semi-detached bungalows at N6.8 million, and 24 units of 11-bedroom semi-detached bungalows at N3.1million
On his part the national president of Nigeria’ Labour Congress Comrade Ayuba said the project is a product of collaboration and commitment between FMBN and NLC in delivering affordable housing to civil service in Sokoto State.
Represented by Comrade Benson Opah , Waba said though workers in Sokoto State are more than one thousand but the gesture is a step in a right direction.
He urged workers who are yet to contribute for the housing scheme to do as the benefits in a long run overwhelm the contributions.
On his part Sokoto State Governor Aminu Waziri Tambuwal who was represented by the Secretary to the state government Alhaji Muhammad Ahmad Mainasara applauded FMBN for demonstrating severally its commitment to addressing the challenge of housing which is among the basic needs of human beings.
Tambuwal enjoined FMBN to be transparent in allocating the house to the beneficiaries.
He noted that the state have been partnering FMBN in delivering affordable housing to workers in Sokoto State.