Chairman of the Board of Directors of FMBN, Ayodeji Gbeleyi
disclosed this during the commissioning ceremony of Lagos State Development and
Property Corporation Staff Millennium Mission Planning and Control Station Ltd
Estate at Emuren axis in the Sagamu area of the state.
Gbeleyi said the decision was made in response to requests
by the higher income-earning segment of NHF subscribers.
He also noted that the increase in the mortgage loan limit
demonstrates the FMBN’s commitment to delivering affordable housing to Nigerian
workers, especially those in the public and private sectors who are
contributors to the NHF Scheme managed by the bank.
The BoD Chairman explained further that, “the scheme,
established in 1992, enables workers to contribute 2.5 per cent of their
monthly income and access loans to cater for their housing finance needs, such
as outright purchase, self-construction, home renovation, and
rent-to-ownership.
“More recently, the Board of Directors approved an increase
in the NHF mortgage loan limit from N15 million to N50 million per applicant in
response to requests by the higher income earning segment of NHF subscribers.
“The maximum loan limit, however, is subject to
affordability based on the monthly development, I want to assure you of the
monthly income of an applicant. Notwithstanding,” he stressed.
The Managing Director/Chief Executive of FMBN, Madu Hamman,
at the event, disclosed that the 72-unit project was fully funded by FMBN and
is in fulfillment of the commitment to the homeownership dreams of Nigerian
workers who are contributors to the National Housing Fund (NHF) Scheme.
He added that the FMBN Cooperative Housing Development Loan
Scheme (CHD) funds housing constructions for housing cooperative societies and
also funds the acquisition of the houses developed for cooperative members
through regular Individual NHF loans.
On his part, the Elemuren of Emuren, Oba Adesegun Abolaji,
hailed FMBN and LSDPC for the establishment of the housing estate, which he
described as a great development in Emuren land.
Oba Abolaji promised that the community will provide
security of lives and properties and also male available 50 more acres of land
to support the efforts in bridging the housing gap in the country.
He, however, appealed to both the Ogun and Lagos state
governments to provide basic amenities to the host community, especially roads.
He said, “There are many things we lack here. Now that you
have exposed us to the outer world. We need good roads. As I have said before,
we will provide 50 more acres of land, so that the housing project will
continue. Housing will not be a problem for anybody.
“This estate is a beautiful one, but I will urge the
government to provide us with social amenities, especially good roads. The road
is in bad condition. We have everything except good roads,” the monarch stated.
The Governor of Lagos State, Babjide Sanwo-Olu, represented
by the Permanent Secretary on Housing, Kamar Olowoshago, equally commended FMBN
and the Lagos State Development and Property Corporation for their commitment
to the advancement of workers’ welfare and for delivering the project promptly.
Sanwo-Olu also called for more collaboration with FMBN to
bridge the housing deficit gap in the state. -PUNCH