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Ogun Tops List of Funded Estates in Southwest, says FMBN

Ogun State has the largest number of funded estates in the Southwest, the Managing Director, Federal Morgage Bank of Nigeria (FMBN), Ahmed Dangiwa, has said

Dangiwa made this known at an enlightenment programme on the re-admission of Nigeria Union of Local Government Employees (NULGE) and members of the Nigerian Union of Teachers (NUT) into the National Housing Scheme in Abeokuta, the Ogun State capital.

Dangiwa, represented by Deputy General Manager, Field Office Coordination Group, Sunday Ogunmuyiwa, said about N500million has been refunded to 4,858 retirees who were contributors to the National Housing Fund in Ogun State.

He said: ‘’Under the FMBN Home Renovation Loan, over N283million has been disbursed to 354 beneficiaries in the state. A housing estate project at Laderin Phase 1, in the state is funded by FMBN through the disbursement of loans to 171 beneficiaries, while the Ministerial Plots Scheme at Ajebo, is also funded by the bank. It is on record that Ogun State has the largest funded estate in the entire Southwest.

‘’Other estates include Rockview Estate in Abeokuta; Sparklight Estate, Ibafo; Davids Court, Arepo; Master Golden and Evangel Estates in Ofada; New Creation Estate and Noah Pavilion, Mowe; Oba Sikiru Adetona  Estate, Ijebu; and Metro Park, Abeokuta, among others.”

He said the FMBN, empowered by law to manage the NHF, has the responsibility to provide long-term loans to contributors to buy, build and renovate residential accommodation.

He stated that the bank would ensure that Nigerians who contributed to the NHF benefited more in the administration.

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According to him, the bank has scrapped equity contribution for houses costing not more N5million, and loan requests above N5million but not more than N15 million attracts 10 per cent equity.

The Chairman, NUT, Ogun State, Titilope Adebanjo, commended FMBN for its achievements in the state.

He, however, appealed to the state government to further reduce the cost of obtaining titles to facilitate the creation of more mortgages.

Source: thenationonlineng
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