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FG approves N2bn for Cooperative Mortgage Bank

His words: “Federal Government has approved the sum of N 2billion naira for Cooperative Mortgage Bank.”

The federal government said it has approved N2 billion for Cooperative Mortgage Bank of Nigeria (CMB) to fund the Cooperative Social Housing Scheme for low income earners to have houses.

The Managing Director/CEO of the bank, Mr. Kabir Tukur revealed this at a sensitization workshop for co-operators across the 13 LGAs of Nasarawa state in Lafia on Tuesday.

He said the aim of the workshop was to sensitize co-operators, particularly the low income earners in the state on how they could have their own houses through the bank by saving N2000 naira monthly in the bank.

He, however, revealed that over ten thousand co-operators have benefited so far from about three hundred thousand housing schemes across the 36 states of the federation, including the Federal Capital Territory (FCT).

His words: “Federal Government has approved the sum of N 2billion naira for Cooperative Mortgage Bank.”

While assuring the co-operators not to be discouraged about the CMB, he added that they were confident about the founding by the federal government.

President, Cooperative Federation of Nigeria, Mr Tajudeen Ayoola, said the body is going to deploy about 1,000 agents in the state as there are already 36,000 nationwide.

One of the beneficiaries and lecturer with the Nasarawa State University, Keffi, Mr. Anthony Ogande appealed to the bank to intervene over the huge tax they are paying to the Nasarawa state government over a land the co-operators in the institution acquired but are yet to develop.

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