The Federal Mortgage Bank of Nigeria (FMBN) has revealed that it has so far disbursed N75.5 billion from 2017 till date.
The bank said it includes 3,541 mortgages and 25,242 home renovation loans and financing the construction of over 7,286 housing units.
MD/CEO FMBN, Arc. Ahmed Dangiwa, who made this known, said the pro-active efforts of the current management of the bank has led to a 45 per cent increase in FMBN’s speed of processing National Housing Fund (NHF) housing loan applications.
He added that as a result, the bank has been able to reduce substantially the huge backlog of loan applications that they met when they assumed office two years ago.
Group Head, Corperate Communications, FMBN, Ahmed Abubakar, said: “I am pleased to note that we have recorded unprecedented improvement in the turnaround time of NHF loan applications. While before now it used to take an average of two years to process an NHF loan, we have been able to bring this down to…