New initiative to reduce housing deficit

The bank has come up with an innovative initiative called FMBN Home Renovation Loan (FHRL).

According to representatives of the bank, the initiative, is not only aimed at reducing the nation’s housing deficit, it will also assist individuals who need funds to renovate their homes.

According to our source, “The service is specifically designed for people who are contributors to the NHF. Under the new initiative, NHF contributors can be granted renovation loans not exceeding one million Naira.”

Speaking at the unveiling event, the Managing Director of FMBN, Alhaji Gimba Ya’u Kumo through the Head, Corporate Affairs department, FMBNMr. Lawal Isa, Kumo said  'an applicant must be a contributor to the NHF while the maximum loan amount shall be N1 million subject to the income limit of the beneficiary as well as the ultimate cost of renovation. It’s accessible to every individual whether civil servants at the Federal, State as well as workers in the private sectors.'

More details on this initiative, can be found on the bank’s website.