The Federal Mortgage Bank of Nigeria (FMBN) and the Family Homes Funds (FHF) on Tuesday signed a partnership agreement to fund housing projects of five million National Housing Fund (NHF) Scheme subscribers.
Speaking at the signing ceremony, the Managing Director of FMBN, Arc. Ahmed Musa Dangiwa, said that the collaboration between the two agencies would help to bolster efforts to address housing deficit in the country.
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Dangiwa stated that the terms of the MoU, would provide mortgage loans to houses that are being developed by FHF for beneficiaries who must be contributors to NHF Scheme.
“FMBN is clearly a leading player on the demand side of the housing equation and partnering with Family Homes Fund as a supplier of affordable housing stock is the right thing to do.
“We are ready to provide mortgage loans to beneficiaries of the houses that FHF is building as long as they are contributors to the National Housing Fund (NHF) Scheme.”
The Managing Director of FHF, Femi Adewole, said: “We hope that this will begin the process of developing that strong partnership that would involve the sharing of knowledge, sharing of information and working together towards a common goal.”
