The Acting Managing Director of Federal Mortgage Bank of Nigeria (FMBN), Mr Richard Esin, has disclosed that the bank financed mortgages for over 740 men of the Nigeria Police Force worth N3.4 billion, adding that the bank is appraising loan applications for 221 personnel through the Nigeria Police Mortgage Bank.
To this end, he noted that N73 million refund applications for 964 police retirees was at the point of payment even as he solicited the cooperation of the Inspector General of Police (IGP), Ibrahim Idris, in providing Bank Verification Numbers (BVN) to facilitate payment for 1,208 retirees whose refund applications were in the bank.
He stated this in Abuja when he received a delegation of the IGP from the Nigeria Police Force led by Deputy Inspector General (DIG), Department of Logistics and Supply, Maigari Dikko,who visited the FMBN headquarters on the proposed police housing scheme.
Esin vowed to look into the requests made by the Nigerian Police even as he enjoined them to get acquainted with developers towards developing their vast land resources nationwide.
He promised to profile the occupants of the FMBN’s 230 housing units forcefully occupied by the police along Zuba-Madalla road stressing that the business challenge of the bank is funding.
“There is hope for Nigeria in getting affordable homes because with the present administration’s Change Agenda and priority on job creation and housing, definitely there will be hope”, he stated.
Esin congratulated the IGP on his confirmation as the substantive Inspector General of Police and appreciated the determination of the IGP in providing affordable housing to the rank and file of the Nigeria Police.
The managing director informed that the FMBN is embarking on a journey of self-re-invention, with strategic focus on four pillars such as corporate governance, operational effectiveness, bank profitability and debt recovery as its key driving force stressing that accountability, transparency and customer satisfaction would be at the forefront of its operations.
“The bank has taken steps to partner service providers such as NIBBS to authenticate National Housing Fund (NHF) data that would enable the bank issue regular account statements to contributors and also allow for seamless refunds to eligible applicants.
He further stated that the bank was working towards partnering foreign developers willing to develop new districts of affordable houses for low income groups, pledging to provide mortgage finance for interested contributors.
On his part, the Inspector General of Police, Ibrahim Idris called on FMBN to fast track the processing of National Housing Fund loan request to beneficiaries of the police post-retirement housing scheme as well as approval for special purpose vehicle from NHF monthly deduction remittance.
On funding, he said, “We are the largest contributor to the NHF that is domiciled with FMBN, so there is no way we will commence the scheme without partnering with some critical stakeholders particularly the FMBN.
The DIG maintained that the priority of the IGP is to build affordable homes especially for the rank and file stressing that other cadre officers would also benefit from the scheme.
He expressed delight with the sincere disposition of FMBN towards providing affordable housing to the rank and file of the Nigeria Police.
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