The Federal Mortgage Bank of Nigeria (FMBN) has stepped up the monitoring and inspection of funded estates nationwide in a bid to ensure the timely completion of ongoing housing projects. The aim is to boost the availability of decent, quality, and affordable housing stock for Nigerians who contribute to the National Housing Fund (NHF) Scheme.
The Managing Director/Chief Executive, FMBN, Madu Hamman, stated this when he recently led a team of senior Bank officials on an onsite monitoring and evaluation of five project sites in Abuja.
• A Ministerial Pilot Housing Scheme (MPHS) project comprising thirty-two (32) bedroom terrace duplexes at Kafe District, near Life Camp, in Abuja;
• DPR Multipurpose Cooperative Society Limited housing estate comprising 24 units of 3-bedroom block of flats and 18 units of 4 bedroom duplexes in Dafe and
• DOX Multipurpose Co-operative Society Limited comprising 12 units of 2 and 3 bedroom block of flats located in Karsana North Cadastral D05, Abuja.
Others include the Copen Investment Co-operative Society estate comprising 2 and 3 Bedrooms Block of flats and 2 Bedroom Block of apartments at Fiindabo District, Abuja, and the Madvan Global Services estate located at Jibi, behind M.D Abubakar Barracks off Kubwa Expressway.
The FMBN MD/CE stated that the new Management Team aims to ensure that developers comply with the approved terms and conditions and deliver the projects on time.
“We are pleased with the level of work on the sites. As a new Management, we have prioritized optimizing our project monitoring structures nationwide to ensure that our developers ensure strict compliance with the approved terms and conditions of the housing finance loans that we extend to them to develop those housing projects. We aim to ensure that all FMBN projects are delivered to good quality and completed on time. This will enable us to package relevant loans for eligible contributors to the National Housing Fund (NHF) Scheme to move into their homes,” he said.