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FMBN, FHA set to sign MOU for 1 million units

May 16, 2016 5:10 PM

The Federal Mortgage Bank of Nigeria (FMBN) and the Federal Housing Authority (FHA) are set to sign an Memoradum of Understanding (MOU).

affordable housing unit

The

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According to The Guardian, the purpose of this MOU is to provide affordable houses.

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During a working visit of the management of the FHA to FMBN, the FMBN’s Acting Managing Director/Chief Executive, Mr. Richard Esin, revealed the dynamics of the collaboration.

Mr Esin said the bank would provide funding for the houses, while the FHA would provide the land.

The collaboration will provide affordable houses through on-going housing schemes such as the Accelerated Housing Scheme for selected federal MDAs, the Federal Integrated Staff Housing (FISH) Scheme for federal civil servants.

Once signed, the government will be one less step away from meeting President Muhammadu Buhari’s annual target of delivering one million housing units.

Inemesit Udodiong Inem Udodiong is the Entertainment Editor. A movie buff, film critic with a core interest in African cinema, and wellness. Reach her via inem.udodiong@pulse.ng

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