Housing Finance

640 FRSC officers get N640m FMBN loan to renovate homes

 

The Managing Director of the Federal Mortgage Bank of Nigeria (FMBN), Arc. Ahmed Dangiwa, recently in Abuja, presented cheques for loans totaling N640million to 640 officers of the Federal Road Safety Commission (FRSC) for the purpose of renovating their homes.

Arc. Dangiwa disclosed that N1.8bn was approved to 196 officers of the FRSC nationwide to purchase homes as well.

He explained that the new disbursement marked a total N1.2bn given to 1,207 beneficiaries in the FRSC across the country.

Dangiwa said the mortgage loan was to assist the officers to purchase their personal houses as well renovate existing homes.

Dangiwa noted that all Nigerians could benefit from the scheme so far as they contributed to the National Housing Fund (NHF).

In his remarks, FRSC Corps Marshal, Dr. Boboye Oyeyemi, said upon assumption of office, he vowed to ensure all staff of the FRSC had their personal homes.

Section 14 (2) of the NHF Act Cap N.45 of 1992 stipulates that a contributor to the fund can access a loan from the fund for the purpose of building, purchasing or renovating of existing homes.

Source: Malikatu Umar Shuaibu

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