FMBN Disburses Home Renovation Loan to NDA Staff

It was an epoch making and landmark event at the loyalty conference room of the Nigerian Defence Academy (NDA) as the officials of federal mortgage bank of Nigerian (FMBN) honored the MOU entered between it and the NDA to reward the civilian staff of the academy who have been contributing 2.5% of their salaries to the national housing fund which is managed by the FMBN.

Officials of FMBN

Brig Gen Yusuf giving a brief on the renovation loan scheme

According to the Academy Registrar NDA, Brig Gen I.M Yusuf that was the very first time the staff has benefited having contributed for the past 24years without any form of benefits. He added that internal pre-qualification screening produced one hundred and seventy six (176) staff that benefited from the loan scheme ranging from renovation, building to purchasing of property. He thanked the Commandant for his effort to see the welfare of the staff improved and the FMBN for keeping to their part of agreement reached.

The Group head of FMBN Okosun Victor Enaholo

Responding, the Group Head of FMBN Okosun Victor Enaholo said that FMBN has the mandate to manage the National Housing Fund and to ensure that every Nigerian has access to housing loan with minimal interest rate. He added that renovation loan scheme will afford every Nigerian the opportunity to renovate their houses and property. He commended the Commandant for his commitment and cooperation to the exercise saying that N150, 000,000.00 was earmarked for disbursement to the staff of NDA while also assuring him of partnering with NDA to provide affordable houses for its staff. The Group Head however appealed to the Commandant for diligent contribution of the staff’s 2.5% salary to enable effective service delivery by the FMBN.

The Comdt  Maj Gen MT Ibrahim giving his remarks

In his remarks, the Commandant NDA Major General MT Ibrahim who appreciated the collaborative efforts of both organizations to deliver on the agreement noted that the renovation loan scheme extended to the NDA staff stood out among various welfare challenges facing the staff. He said he was very delighted that NDA was able to use the power at its disposal to bring succor to those who needed it and to provide avenue for FMBN to deliver in such a special way. The Commandant congratulated the Group Head and his team for the exceptional turnaround and prayed God to encourage them in their lofty objectives by providing avenues for contributors to own their own houses. Finally, he appreciated the sterling quality and tenacity of the AR in making things happen.

Highlights of the event were disbursement of home renovation loan and presentation of cheques to staff that scaled the pre-qualification screening.

A beneficiary Mr Obinna Anyanwu receiving his cheque 

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