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FMBN to provide affordable homes for Nigerian workers

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FMBN CEO, Ahmed Dangiwa

The managing director and chief executive officer of the Federal Mortgage Bank of Nigeria (FMBN), Arc. Ahmed Musa Dangiwa said the Bank is committed to providing affordable mortgages to drive home ownership among Nigerian workers.

Dangiwa was speaking when the Director-General of the Industrial Training Fund (ITF) Sir Joseph N. Ari and his team paid him a courtesy call in the bank’s headquarters in Abuja.

In a statement, Dangiwa said providing affordable mortgages to Nigerian workers is done through the National Housing Fund(NHF) Scheme into which Nigerian workers both in public and private sectors contribute 2.5% of their monthly income.

“Through the scheme, the bank has continued to provide affordable mortgage to Nigerian workers and construction finance for housing development. Our National Housing Fund (NHF) individual mortgage loan, granted at 6%, is the most affordable in the country” Dangiwa said.

In his response, the Director-General of the Industrial Training Fund (ITF) Sir Joseph N Ari, commended FMBN on the giant strides in reforming the bank under the present management.

Ari said the purpose of the visit was to provide a platform that the two organisations will work together for their mutual benefits.

He called on FMBN to arrange for a sensitisation workshop for the staff of ITF.

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