The Federal Mortgage Bank of Nigeria has granted 463 civil servants home renovation loans in Kwara State.
The Governor of Kwara State, Abdulrahman Abdulrazaq, on Monday, flagged off the presentation of cheques to the beneficiaries of the loan.
The Kwara state civil servants have benefitted from the FMBN home renovation loan to the tune of N1,025,283,000 disbursed to 1,575 beneficiaries. The FMBN on Monday disbursed the sum of N303,750,000 to 463 beneficiaries.
Speaking at the event Abdulrazaq said, “This home renovation loan scheme is basically an initiative of the Federal Mortgage Bank of Nigeria that many of you have enrolled in. You have played your own role by enrolling in the scheme. That is, you trusting the system to work for you. That is, you play your own role as patriotic citizens and as workers. For you to benefit from this loan, however, your state government must stand as your guarantor. And we gladly did because we trust that you have also worked to earn our trust.”
Represented by the Deputy Governor Mr. Kayode Alabi, the Governor promised to mobilise available resources and grab every opportunity to improve the wellbeing of the civil servants as well as the ordinary citizens.
The Managing Director Federal Mortgage Bank of Nigeria, Architect Ahmed Dangiwa, who was represented by the Deputy General Manager Federal Mortgage Bank of Nigeria, Ibrahim Nafada, explained that the loan window affords Nigerians who are contributors to the National Housing Fund an opportunity to access mortgage loans to renovate or improve existing properties which are personally owned by them or through family ownership.
“Permit me to applaud the commitment and cooperation of the Executive Governor Mallam Abdulrahman Abdulrazaq and the Head of Service, Mrs. Susan Modupe Oluwole, in executing these documents promptly which has enabled the Kwara State civil servants to benefit from FMBN home renovation loan to the tune of N1,025,283,000 disbursed to 1,575 beneficiaries. Today, we are disbursing the sum of N303,750,000 to 463 beneficiaries,” he added.
Dangiwa also announced that the bank had approved a sum of N401,145,000 for 708 members of staff of Kwara State Universal Basic Education which will be credited to individual beneficiaries’ accounts after execution of all other conditions precedent to disbursement.
For her part, State Head of Service, Modupe Oluwole said the present administration is doing everything possible to tap all available opportunities and resources from both governmental and non-governmental organisations for the benefit of the people.
Oluwole said, “The scheme was designed especially for contributors to the National Housing Fund to benefit from their contributions on lower interest rates. Through the committed efforts of the government, the Federal Mortgage Bank, not only approved the loan for all interested civil servants, who indicated their interests but also made cheques for them.
“I want to advise the beneficiaries of the first phase and those to benefit in subsequent batches to make use of the loan for the purpose for which it is meant for. A comfortable home for a civil servant is no doubt a sine-qua-non for comfortable living which ultimately would lead to the high productivity of such civil servant.”
