Finance

FMBN disburses N394.6 billion to NHF beneficiaries from 1992-2022


The Federal Mortgage Bank of Nigeria (FMBN) has revealed that between 1992 and 2022, the sum of N394.575 billion has been disbursed to beneficiaries.

This was made known by Mr Lawal Sauri, the Group Head, Corporate Communications, FMBN in Abuja on Monday.

He noted that the disbursement includes various categories of beneficiaries of the National Housing Fund.

What the FMBN is saying

Mr Sauri said the Home Renovation Loan disbursed the sum of N68.571 billion to 84,088 beneficiaries.

  • The home renovation loan is given to contributors that want to renovate or refurbish their existing homes to make them more appealing and comfortable.
  • In Construction loans, we disbursed N145. 414 billion for the building of 34,158 units of houses to 34, 158 beneficiaries in 30 years.
  • “On mortgage loans, 23,300 contributors benefited N128.861 billion and NHF refund to retirees was N51.729 billion to 386,045 retirees,” Mr Sauri said.
  • Mr Sauri added that FMBN had registered 5,500,72 contributors and registered cooperative societies numbering 1,230.
  • We have 23,120, cooperative members and a total of N533.932 billion NHF collection in 34 states of the federation.” Mr Sauri said.

In case you missed it

Nairametrics reported last month that FMBN revealed that the National Housing Fund (NHF) recorded N294 billion as additional contributions within the last 5 years.



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