The Federal Mortgage Bank of Nigeria has announced an increase in the National Housing Fund mortgage loan limit from N15m to N50m per applicant.
Chairman of the Board of Directors, FMBN, Ayodeji Gbeleyi, disclosed this during the commissioning ceremony of the Lagos State Development and Property Corporation staff millennium mission planning and control station Ltd Estate at Emuren axis in Sagamu area of the state.
Gbeleyi said the decision was made in response to requests by the higher income-earning segment of NHF subscribers.
According to Gbeleyi, the increase in the mortgage loan limit demonstrates the bank’s commitment to delivering affordable housing to Nigerian workers, especially those in the public and private sectors who are contributors to the NHF scheme managed by the bank.
The Managing Director/Chief Executive Officer of FMBN, Madu Hamman, said the 72-unit project was fully funded by the bank and was in fulfilment of the commitment to the homeownership dreams of Nigerian workers who are contributors to the National Housing Fund scheme.
