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FEDERAL GOVERNMENT INAUGURATE BOARDS OF FHA AND FMBN

The Minister of Power, Works and Housing, Mr. Babatunde Raji Fashola on Wednesday, the 1st of March, 2018 inaugurated two new Boards of Directors comprising The Federal Housing Authority (FHA) and The Federal Mortgage Bank of Nigeria (FMBN).

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In his inaugural speech, the Minister of Power, Works and Housing said the vision of the ministry to provide affordable housing for Nigerians had to be achieved. He also stated that the formalities of the Inauguration had consequences as it affected the lives of millions of Nigerians. He said the functions and roles are spelt out for the Board but that he will provide a guide for implementing rules. He charged the respective Boards of Directors to be guided by the laws of the Country in the formulation of their plans and programme, asking them to bear in mind that the welfare of the people is paramount in its development agenda.
“Good institutions are the aggregates of good deeds of good men and good women,” He emphasized.
He asked the Boards of Directors to reposition and manage the brand as the policy of the government is to deliver affordable housing.


He charged the FMBN Board of Directors to help provide finance and housing acquisition and also charged the FHA Board of Directors to know what Nigerians wanted and offer them what they want. He said that there is nothing wrong in working on other house designs and that it will be helpful if FHA can make housing affordable, as people do not take up many houses as they are sometimes unaffordable. He told them that he expected to see teamwork and asked them to take good decisions on behalf of millions of Nigerians, and also follow the law and refuse any decision that does not go with the law.
Mr. Babatunde Raji Fashola, admitted that the ministry is presently piloting an affordable housing programme in thirty three (33) States of the Country.
The Chairman of the Board of Directors of the Federal Housing Authority (FHA), Sen. Lawal Shuaibu thanked the President Muhammadu Buhari and the Minister for delivering on their promises on housing. He said he is ready to serve and bring the best of service to work. He also said the issue of National Housing Policy will be seen to. He assured the Honourable Minister that the policies will be fully implemented.
The Chairman of the Federal Mortgage Bank of Nigeria (FMBN), Mr. Adewale Adeeyo also thanked the President and assured him that he will make sure there will be teamwork and that both the FHA and FMBN will work together to ensure that there will no troubles. He promised that there will be affordable housing with affordable interest rates.

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