FEDERAL MORTGAGE BANK OF NIGERIA (FMBN)

Wishing you and your loved ones a truly Happy New Year.

Have a fabulous Yuletide season, from all of us at FMBN.

FMBN Provides Mortgage Loans to Nigerian Soldiers for Off-taking of AHOOAS Homes ...Osidi Re-echoes Bank's Commitment to Affordable Housing Solutions The Federal Mortgage Bank of Nigeria (FMBN) has supported soldiers of the Nigerian Army with mortgage loans to acquire houses provided through the Affordable Home Ownership Option for All Soldiers (AHOOAS). This was disclosed by the Managing Director/Chief Executive of the Bank, Shehu Usman Osidi, during the commissioning of Phase 1 of the project in Idu, Abuja on Wednesday, December 18, 2024. The commissioning ceremony which was hosted by the Chief of Army Staff, Lt. Gen. Olufemi Oluyede and conducted by the Chief of Defense Staff, Gen. C.G. Musa, was held on the heels of the design and development of 400 housing units by Post-Service Housing Development Limited (PSHDL), headed by the Managing Director/Chief Executive Officer, Maj. Gen. J.D. Omali.  The Managing Director of FMBN, represented by the Group Head, Project Finance, Mr. Mohammed Jibo Ibrahim, congratulated the Nigerian Army for the big leap forward, noting that the milestone reflected the commitment of the Chief of Army Staff to the well-being and welfare of the gallant soldiers, especially in the area of homeownership. “By providing access to affordable and decent accommodation, this initiative contributes significantly to the well-being, productivity and morale of our military personnel who continue to dedicate their lives to safeguarding the stability and security of our beloved nation,” he noted. He said, “the concept of the project we are commissioning today mirrors the Renewed Hope Housing Agenda of the current administration in which the Bank is playing a pivotal role.”   The MD/CE noted that asides providing a N100 Billion Off-taker Guarantee which facilitated financing for the development of the Renewed Hope Cities and Estates across the country, the Bank is also working to provide mortgage loans to beneficiaries of the houses developed through the initiative. On his part, the Chief of Defense Staff, Gen. Musa applauded the efforts of the COAS and the leadership of the PSHDL for the initiative, stating that the project stands as a true testament to the untiring efforts of the Late COAS, Gen. Taoreed Lagbaja. While supporting the beneficiaries with a donation of N30 Million, he urged other State Governors to emulate Govs Eno and Okpebholor, and challenged the Chiefs of Naval and Air Staff to take cue from the COAS. Addressing the gathering, Gen. Oluyede noted that the event represented a landmark achievement in the ongoing efforts to enhance the well-being of Nigerian soldiers and address the housing challenges facing them. He appreciated the FMBN for providing mortgage loans for the soldiers, and thanked the Governors of Akwa Ibom and Edo States, Govs. Umo Eno and Monday Okpebholor, for allocating lands in their States for more phases of the project. Virginia Jang (Mrs.) Group Head, Corporate Communications

FMBN Named Best Housing Finance Solutions Provider at Africa Housing Awards …Award should be a catalyst for greater accomplishments - Osidi In recognition of its contributions to providing housing finance solutions, the Federal Mortgage Bank of Nigeria, under the visionary leadership of the Managing Director/Chief Executive, Shehu Usman Osidi was on Saturday, December 14, 2024, honoured with the prestigious award of Best Housing Finance Solution at the 6th Edition of the Africa Housing Awards 2024. The event, tagged "Industry End of Year Dinner 2024" held at the Umaru Musa Yar'Adua Centre in Abuja, and was targeted at recognizing and honouring individuals and organizations for their outstanding contributions to housing sector development. In a goodwill message, the FMBN head lauded the organizer, Barr. Festus Adebayo, and HDAN, for their unwavering commitment to promoting sustainable housing development and driving impactful conversations around affordable housing. He asserted the significance of the event, affirming that "a society that recognizes and rewards merit is creating a platform for advancement and progress." "By recognizing achievements and contributions to the development of the housing sector, the Africa Housing Awards inspires us all to do more," he remarked. Osidi further outlined some key milestones by the Bank in supporting Nigerians to achieve their homeownership aspirations. Some of these efforts to include provision of a N100 Billion off-takers' Guarantee to facilitate the delivery of the Renewed Hope Cities and Estates across Nigeria, beginning with the Renewed Hope Cities housing project in Karsana, Abuja. Awards of various categories were presented to men and women of all sectors who had distinguished themselves through their contributions to housing sector development. Notably, the Housing Friendly Governor of the Year went to the Governor of Nasarawa State, His Excellency, Engr. Abdullahi Sule, whose award was received by the FMBN MD, Shehu Osidi, the Urban Planning Governor of the Year, given to Gov. Ahmed Aliyu Sokoto of Sokoto State, the Housing Friendly Senator of the Year, Senator Aliyu Wammako, the Africa Housing Minister of the Year, Arc. Ahmed Musa Dangiwa and the Housing Friendly Legislator of the Year, Hon. Abdulmumin Jibrin. It was an evening of glitz and glamour as the Executive Director, Loans and Mortgage Services of the Bank, Dr. Muhammad Sani Abdu, and top management staff of the Bank, including the Group Head, Corporate Communications, Mrs. Virginia Jang, the Group Head, Field Operations, Mrs. Felicia Aningo, the Group Head, Project Finance, Mr. Mohammed Jibo, the Group Head, National Housing Fund, Mr. Uche Ihejirika and others, joined the MD/CE of the Bank on stage to receive the award. Virginia Jang (Mrs) Group Head, Corporate Communications

Contact us today to take advantage of any of our numerous products to become a proud homeowner. Call the following numbers; 09036332566, 09023239419, 08057881824, or 08096000018 for details. You can also send us a WhatsApp message on 08099990027 or 08099990028, or an email on info@fmbn.gov.ng.

The Council of Registered Builders of Nigeria (CORBON) has renewed calls for the recapitalisation of the FEDERAL MORTGAGE BANK OF NIGERIA (FMBN) to enable it address Nigeria’s housing deficit. Addressing journalists in Abuja on Wednesday, December 11, as part of activities marking CORBON’s 35th anniversary, the council’s chairman, Dr Samson Opaluwah, lanented the inadequacy of the bank’s current capital base of N2.5 billion to meet the housing needs of Nigeria’s 220 million citizens. “Even in Abuja, N2.5 billion can only provide a handful of structures. It is grossly insufficient to achieve the FMBN’s mandate,” Opaluwah said. Although the federal government, through the Minister of Housing and Urban Development, Arc Ahmed Musa Dangiwa, announced plans in February to raise the bank’s capital base to N500 billion, the chairman expressed disappointment that the proposal remains unimplemented. Opaluwah urged immediate action to actualise this plan. Opaluwah, who urged immediate action to actualize the plan, also advocated the liberalisation of mortgage access, particularly for young people, including fresh graduates  ——— To continue reading, click the link in our bio ——— Follow us for more news updates #news #newsupdates #breakingnews #newspaper

We are Hopeful of Positive Result on the Single Obligor Limit - Osidi  …Leads FMBN Team to Housing Ministry for Presentation on Presidential Priorities, Ministerial Deliverables Abuja, December 9, 2024 - The top management of the Federal Mortgage Bank Nigeria, led by the Managing Director/Chief Executive, Shehu Usman Osidi, was at the Ministry of Housing and Urban Development for the presentation of the first to third quarters’ 2024 performance assessment on implementation of the Presidential Priorities and Ministerial Deliverables. The session was convened to review and assess the work done so far by the Housing Ministry and its Departments and agencies, and had in attendance, the Honourable Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, the Honourable Minister of State for Housing, Hon. Yusuf Abdullahi Ata, the Special Adviser to the President on Policy and Coordination & the Head, Central Delivery Coordination Unit (CDCU), Hadiza Bala Usman, the Permanent Secretary, Dr. Marcus O. Ogunbiyi, as well as the Bank's Executive Directors of Finance and Corporate Services, Mr. Ibidapo Odojukan, Loans and Mortgage Services, Dr. Muhammad Sani Abdu and Business Development & Portfolio Management, Mrs. Chinenye Chinedu Anosike. The Minister recounted the successes recorded so far, highlighting the ongoing construction of 10,112 housing units at fourteen (14) sites nationwide. Additionally, the Minister noted that from December 17 to 18, President Tinubu would be breaking ground for two additional Renewed Hope Cities totaling 3,500 units — 2,000 housing units in Ibeju-Lekki, Lagos, and 1,500 housing units in Kano, adding that construction work was already ongoing at these sites. Ac. Dangiwa acknowledged the yawning housing deficit, justifying the need for a bigger budgetary allocation for housing. He revealed that the National Assembly had expressed willingness to support a N500bn budget for the Ministry's housing project in 2025 and appealed to the CDCU Unit to support and push the cause. He reiterated the Ministry's commitment to supporting the actualization of the Renewal Hope Agenda of President Bola Tinubu. On her part, Mrs. Usman, presented the performance assessment, identifying success areas and gaps that needed to be filled to align with the outlook for the fourth quarter. She pointed out the need for the Ministry and its agencies to agree on a standardized unit for measuring housing deliverables. She explained that even though a lot of work had been done, without an agreed method of measuring deliverables, it would not be properly captured. In his comments, the MD/CE of the Bank, identified some key steps already taken to surmount some of the challenges earlier clogging the Bank's progress, specifically the issue of the single obligor limit. He noted that there had been some engagements with the House of Representatives Committee on Housing and Habitat. Virginia Jang (Mrs.) Group Head, Corporate Communications

FMBN Joins Global Observance of 2024 Anti-Corruption Day with a Focus on Youth Engagement and Transparency Demonstrating its unwavering commitment to transparency and accountability, in line with the ideals of the current Executive Management under the leadership of the Managing Director/Chief Executive, Shehu Usman Osidi, the Federal Mortgage Bank of Nigeria (FMBN), joined key stakeholders and the international community in commemorating the 2024 Anti-Corruption Day. The event, organized in collaboration with the Centre for Transparency Advocacy (CTA) and the Federal Ministry of Justice, took place at the Federal Ministry of Finance Auditorium on Monday, December 9, 2024. Representing FMBN at the occasion was Mrs. Virginia Jang, Group Head of Corporate Communications, ably represented by Jadesola Gbago, Unit Head, Public Affairs and Events Management. Themed "Uniting with Youth Against Corruption: Shaping Tomorrow's Integrity Using the Freedom of Information Act (FOIA) 2011 as a Tool," the event spotlighted the critical role of young people in fostering integrity and accountability. It also emphasized the strategic importance of leveraging the Freedom of Information Act (FOIA) as a weapon against corruption. Delivering a keynote address, Chief Lateef Fagbemi, Minister of Justice and Attorney General of the Federation, represented by Barr. Godwin Garba, underscored the necessity of heightened awareness and effective implementation of the FOIA. He reaffirmed the Ministry’s willingness and readiness to drive the Act’s full implementation. Comrade Ayodele Olawande Wisdom, Minister of Youth Development, represented by Comrade Dotun Omoleye, called for the need to embed transparency as a cultural norm. He emphasized the importance of involving young Nigerians in the fight against corruption to build a future founded on integrity. In her opening remarks, Ms. Faith Nwadishi, Executive Director of CTA, highlighted the power of collaboration in combating corruption. She advocated for the nationwide adoption of the FOIA and stressed the importance of empowering state governments to domesticate the law. A representative of the Ministry of Justice, provided an in-depth review of the FOIA’s 32 sections, covering its origin, purpose, timeline and exemptions. This session aimed to enhance participants’ understanding of the Act's practical applications. A standout moment of the event was the call to all government institutions to set up FOIA Desk to be manned by at least five officers for continuous update of the reporting template, and for onward submission to the Ministry of Justice on or before February 1, every year. Under its current leadership, FMBN continues to champion the principles of transparency and accountability, weaving them into every aspect of its operations. The Bank, once more, reinforces its role as a key player in the national and global fight against corruption. Virginia Jang (Mrs.) Group Head, Corporate Communications

Despite economic headwinds, we have braved the storm and remained committed to fulfilling our overarching mandate of providing affordable homeownership for Nigerians through uniquely designed, long-term, single-digit mortgage loans and products. Visit an FMBN Branch near you to take advantage of our offerings.

Our commitment to providing affordable housing solutions through needs-based and tailored mortgage loans and products remains steadfast. Afterall, Everyone Deserves a Home. #everyonedeservesahome #AffordableHousing #mortgage #housingloan