Police Officers Get N3.4bn Housing Loans From FMBN

  • Police Officers Get N3.4bn Housing Loans From FMBN

Over 740 men of the Nigeria Police Force have accessed mortgage financing to the tune of N3.4bn from the Federal Mortgage Bank of Nigeria, the Acting Managing Director/Chief Executive, FMBN, Mr. Richard Esin, has said.

According to him, loan applications for 221 others through the Nigeria Police Mortgage Bank are at various stages of appraisal by the FMBN.

Esin, who stated these while playing host to the Inspector General of Police, Mr. Ibrahim Idris, and his team at the headquarters of the mortgage bank in Abuja recently, noted that refund applications for 964 police retirees totalling N73m were at the point of payment.

He, therefore, appealed to the IGP for cooperation in providing Bank Verification Numbers for the 1,208 retirees whose refund applications were in the FMBN, as this would facilitate their payment.

Esin informed his guests that the bank had taken steps to partner service providers such as the Nigeria Inter-Bank Settlement System to authenticate the National Housing Fund data that would enable the FMBN to issue regular account statements to contributors and also allow for seamless refund to eligible applicants.

He further stated that the bank was working towards partnering foreign developers willing to build affordable houses for low-income groups, in which the FMBN would provide mortgage finance for interested contributors.

The FMBN boss stated that the meeting with the IGP would further strengthened its relationship with the force, adding that it was part of ongoing efforts to build a symbiotic relationship between both organisations.

He appreciated the determination of the IGP to provide affordable housing for the rank and file of the Nigeria Police.

In his address, Idris, who was represented by the Deputy Inspector General of Police, Logistics and Supply, Mr. Maigari Dikko, expressed delight with the positive discussion on how to achieve the vision of providing affordable housing to the rank and file of the Nigeria Police.

He promised to look into the issues discussed in order to forge a stronger relationship based on mutual collaboration and cooperation between the Nigeria Police and the FMBN.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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