Federal Mortgage Bank Sets To Stabilize Capital Base 

Afimag.com –

The Federal Mortgage Bank of Nigeria has set every machinery in motion to stabilize its capital base to the tune of 500 billion naira.

The Minister of Housing and Urban Development, Mr Ahmed Dangiwa made this known at the bank’s management retreat with the theme, “Transformational innovation for sustainable development in uncertain times”,  which was held in Niger State.

Dangiwa explained that a memo would be forwarded to the Federal Executive Council for the approval of the bank’s capitalisation.

He further emphasized on the need for the bank to be more efficient in the provision of affordable houses to Nigerians of all income brackets.

He said, “We must see FMBN as a tool of service to Nigerians. We must see our jobs, titles, and the salaries that we are paid as recompense for the services that we offer to Nigerians. Ensuring that we offer quality customer service to Nigerians is very important.”

The Managing Director Federal Mortgage Bank of Nigeria, Mr. Madu Hamman highlighted programmes embarked upon by the bank to reduce the nation’s housing deficit to include approval of the National Housing Fund Individual Construction Loans, Rent to Own Loan and Revamping Cooperative Housing Development Loan.

The Chairman Senate Committee on Housing and Urban Development, Senator Aminu Tambuwal represented by the Vice Chairman, Senator Victor Umeh pledged to work closely with the Federal government to transform the nation’s housing sector.