By Mashe Umaru Gwamna
The Management of Federal Housing Authority (FHA), has commissioned magnificent FHA Mortgage Bank (FHAMB ) Limited building project in Gwarinpa, Abuja.
Speaking at the bank’s commissioning yesterday, the FHA MD/ CEO Hon. Oyetunde Oladimeji Ojo, stated that the project is a major footprint and a legacy that will be remembered for a long time, describing it as a milestone achievement.
Ojo stated that the building project was zero funded by government, 100% funded by FHA Mortgage Bank.
“ Let’s think out of the box so that we would be able to fund ourselves, and
that is exactly what FHA is doing.
“The FHA mortgage bank has come to stay; not just as a mortgage bank, but as a bank that is moving towards holding people’s financial trust. Once we are a commercial bank, we are now as good as holding people’s financial trust. And that is where we are going to.
“We are grateful to God that as housing authority, we are in charge of land and properties too”.
He disclosed that the (FHA) Mortgage Bank has secured N27bn in housing loans for 3,427 eligible Nigerians through the National Housing Fund (NHF) scheme.
He also said that 6,000 Nigerians have gained access to mortgages via the Pension Commission’s Retirement Savings Account (RSA) window within just two years of its commencement.
He commended the leadership of the FHA Mortgage Bank for its resilience, dedication, and commitment to housing finance delivery in Nigeria.
The MD/ CEO appreciated FMBN, National Assembly and CBN, NDIC, and other government regulatory bodies.
“We are very grateful for believing in us. The bank is moving into the right direction.”
Similarly, the Managing Director/ CEO New Head Office Gwarinpa, Dr. Hayatuddeen Atiku Awual, stated that,
“Our choice of Gwarimpa was intentional.
“It is one of Abuja’s largest residential hubs, home to our
target demographic, the hardworking middle-income families, civil servants, and young
professionals who form the backbone of Nigeria’s housing demand”.
He insisted that from here, “we are closer to
the people we serve, visible to the market, and strategically positioned for growth.
“This building also strengthens our balance sheet as a strategic asset. It serves as collateral for wholesale funding, enhances our credibility with investors, and reduces our reliance on rented
properties.
“Simply put, it is both a home and a springboard for the Bank’s next phase of growth”, he added.
He said the bank was able to secure approval of N27 billion on behalf of 3,427 eligible Nigerians who are contributors to the scheme to own their houses nationwide.
“In addition, through the PENCOM RSA window, we facilitated access to mortgages for well over 6,000 Nigerians within 24 months of its commencement,” Awwal stated.
He added that plans are underway to open at least 20 new branches in the next two years, scale its loan portfolio to N100bn, and grow its active customer base beyond 100,000 families.
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