Federal Mortgage Bank approves N360m loan for Adamawa workers

The Federal Mortgage Bank of Nigeria (FMBN) has approved N360 million loan for 451 civil servants of Adamawa, an official has said.
The Executive Director, Loans and Mortgage Services of the bank, Rahimatu Aliyu, disclosed this in Yola on Monday at the presentation of cheques to beneficiaries of the FMBN Home Renovation Loan in Adamawa.
Mrs. Aliyu said that the gesture was in line with one of the cardinal agenda of President Muhammadu Buhari’s administration which was the provision of housing.
She said that the bank had so far disbursed N4.7 billion to 6,000 beneficiaries across the country.
The director said that the bank had funded two estate development projects in the state.
According to her, ”We have so far funded 400 houses in Wauru Jabbe in Jimeta and another 88 houses at Konan Waya on Ngurore-Yola road of the state.
The executive director said that all the projects were aimed at providing affordable housing for Nigerian workers.
Mrs. Aliyu commended the commitment of the Adamawa Government in processing documents that led to the approval of funds for civil servants in the state.
She noted that the gesture was a clear demonstration of the concern of the administration for the welfare of workers through partnership that would address their housing needs.
The director also expressed the determination of the bank to support the state government to achieve the task of providing affordable housing for its workers.
Presenting the cheques, Governor Mohammed Bindow directed the Ministry of Lands to provide adequate land for the organised labour for development of housing for workers.
Mr. Bindow said that his administration would continue to support any initiative that could enhance welfare of workers in the state.
The governor, while commending the bank for the provision of the loan, said it was first of its kind in the history of the state.
According to him, nobody has given any civil servant, a one-million naira loan to pay back within five years.
He urged civil servants to work hard as their elevation to the rank of permanent secretaries would be considered on merit.
The Head of Service of the state, Louis Mandama, commended the bank for such an opportunity.
One of the beneficiaries who spoke to NAN, Florence Zira of the Ministry of Health, expressed gratitude for the gesture.
Mrs. Zira, who received a cheque for N1 million, said that she did not expect that her aspiration for having her own house would come to a reality.(NAN)