Ogun has Largest Number of Funded Estates in South-West —FMBN

• Ogun has Largest Number of Funded Estates in South-West —FMBN

Ogun State has the largest number of funded estates in the entire southwest, the Managing Director of Federal Mortgage Bank of Nigeria, Mr Ahmed Dangiwa, has said.

Dangiwa, made this known at an enlightenment programme for the re-admission of Nigeria Union of Local Government Employees and members of the Nigerian Union of Teachers into the National Housing Scheme in Abeokuta.

Dangiwa who was represented by Deputy General Manager, Field Office Coordination Group, Mr Sunday Ogunmuyiwa, said about N500m had been refunded to 4,858 retirees, who were contributors to the National Housing Fund in Ogun State, among many other achievements.

He said, “Under the FMBN Home Renovation Loan, over N283m 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, had the responsibility to provide long-term loans to contributors to buy, build and renovate an existing residential accommodation.

He stated that the bank would ensure that Nigerians who contributed to the NHF benefitted more in President Muhammadu Buhari’s housing scheme.

According to him, the bank has scrapped equity contribution for houses costing not more N5m, while loan request above N5m but not more than N15 m attracts 10 per cent equity.

The Chairman, NUT, Ogun State, Titilope Adebanjo, commended FMBN for the success stories recorded in the state.

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

The Chairman, NULGE, Olatunji Ayuba, said President Muhammadu Buhari should be commended for being faithful to his policies through the FMBN.

The State Coordinator for FMBN, Abeokuta office, Mr Babatunde Oyeyinka, stated that the bank was ready to serve contributors in the state and beyond.

He said the bank had gone digital which meant that the issue of passbook would soon be phased out, adding that housing scheme would remain open to all Nigerians in the public and private sector.

“I encourage all Nigerians above 19 years, especially in Ogun State and working in the public and private to register with the FMBN and subscribe to NHF.

The Director of Administration, Agric Cooperation Development, Mrs Dada Grace, while commending the bank for living up to expectations, adding that this, had given credibility to the FMBN.