According to Mr. Richard Esin, the acting Managing Director/Chief Executive of FMBN, these houses will be affordable, adding that National Housing Fund (NHF) loans will be available.

“The houses will be sold to interested workers who will be granted NHF mortgage loans at the concessionary interest rate of 6%”, he said.

The housing project will be handled by the FMBN management, in collaboration with the Nigeria Labour Congress (NLC), Trade Union Congress (TUC) and the Nigerian Employers Consultative Association (NECA).

In related news, the FMBN has also teamed up with the FCT administration to build low-cost houses for low-income workers in Abuja.