Oyo Civil Servants Get Home Renovation Loans from FMBN; Bank Spends over N2b on Housing Estates


By Oluwakemi Ishola 

The Federal Mortgage Bank of Nigeria has disbursed N7,700,000 (Seven Million, Seven Hundred Thousand Nauru) to ten beneficiaries in Oyo State under its Home Renovation Loan programme. The bank management says it has voted over N2billion on five Housing Estates in Oyo State.

FMBN’s Zonal Manager, Engr. Fashina Abiodun, disclosed this on Thursday in Ibadan while presenting cheques to 10 beneficiaries drawn from Ladoke Akintola University Teaching Hospital, Oyo State Cocoa Development Unit, Water Corporation of Oyo State and LA Fayette Micro Finance Bank Ltd, under the bank’s home renovation loan scheme.

According to Engr. Fashina, “the FMBN launched one of the most ambitious housing delivery programmes in this country, the National Affordable Housing Delivery Programme in collaboration with the Nigerian Labour Congress, the Trade Union Congress and the Nigerian Employers’ Consultative Association. It is a programme to deliver affordable houses to Nigerian workers in every state of the federation. As we speak, the bank has the mandate to build 200 housing units in each six geopolitical zones of the country including Lagos and Abuja; the pilot projects have commenced in earnest in some zones”

Engr. Fashina further said the bank is funding 502 housing units with over N2billion across Oyo State.

Speaking at a cheque presentation ceremony, which was held at Agodi State Secretariat Ibadan, the FMBN’s Branch Manager in the state, Mr. Sotounwa Olusegun enlightened the public about the Home Renovation Loans. “This programme is one of the several products of the bank, aimed at ensuring that contributors to the NHF benefit from the scheme. The FMBN Home Renovation Loan was created for the purpose of renovating existing structures” he said.

Governor Seyi Makinde was represented by the State Head of Service – Mrs. Amidat Ololade Agboola, ommended hanked the a Federal Mortgage Nigeria for the collaboration with Oyo State Government to provide affordable housing to Oyo State civil servants in the low and medium income bracket and we hope for more partnership with the bank on these issues.

Engr. Makinde in his speech said that Oyo State Government since the inception of his administration had moved to resolve the housing deficit, eliminate the high cost and systemic bottlenecks to title perfection and Governor’s consent to mortgage transactions. “This administration has also done an upward review of housing loan from a maximum of Two Million Naira to a maximum of Three Million Naira for the civil/public servants of which many have benefited from this magnanimity” he said.

The Governor noted that the documentation of properties has been made easy under his administration through the Home Owner Charter, putting value on properties and making enumeration of properties very easy for the government.

“The State Government has also launched the platform and digitized the process of obtaining certificate of occupancy. Civil servants and members of the general public who apply for C of O can now receive it within sixty (60) days of application. With this scheme, property owners can now easily use their use their properties as collateral for any financial transaction as well as having their documentation on digital database of the ministry of Lands, Housing, Survey and Urban Development for ease of confirmation and transfer”.

“This administration has approved the enrollment of Oyo State civil/public service into the into the Federal Housing Scheme being operated by the Federal Mortgage Bank. Hence, civil/public servants who are interested can apply to be beneficiaries of this scheme. This we believe will also go a long way in complementing the efforts of the State Government” he concluded.

The FMBN Home Renovation Loans included Mr. Olayiwola Michael Adeyemi from LAUTECH teaching hospital – Ogbomoso, who received N1,000,000; Mr. Opadijo Olutunji from LAUTECH teaching hospital – Ogbomoso, who received N1,000,000; Mr. Olawoyin Olagbemiro D. from LAUTECH teaching hospital – Ogbomoso, who received N800,000.

Mr. Oyeranmi Akinloye O. from LAUTECH teaching hospital – Ogbomoso, received N800,000; Mrs. Makinde Faith Adekemi from LAUTECH teaching hospital – Ogbomoso, received N500,000. Mrs. Agboola Florence Oladunke from Water Corporation of Oyo State received N700,000; Mr. Akere Adio Oladele Sikiru from Water Corporation of Oyo State received N600,000; Mr. Adisa Emmanuel from Oyo State Cocoa Development Unit received N500,000; Mrs. Ajiboye AnuOluwapo O. from LA Fayette Micro Finance Bank Ltd. received N800,000 and Mr. Funsho Ogunsanwo from LA Fayette Micro Finance Bank Ltd. received N1,000,000.

Present at the symbolic cheque presentation were top officials of the FMBN, the Oyo State Commissioner Establishment – Prof Daud Kehinde Shangodoyin was represented by Alhaja Osatade, Oyo State Chairman of Trade Union Congress (TUC/JNC) – Com. Emmanuel Olusola Ogundiran; Oyo State Chairman of Nigeria Labour Congress (NLC) – Comrade Kayode Martins; State Secretary of Nigeria Labour Congress (NLC) – Com. Ibrahim Mohammed; State Secretary of Trade Union Congress (TUC) – Com. Mayowa Falegbe. Mr. Kehinde Ibrahim Olajide represented Clerk of Oyo State House of Assembly, Mr. Olabamso Olusegun from Ministry of Establishment.

One of the beneficiaries who spoke to journalists, Mr. Olayiwola Michael expressed gratitude for the gesture. Olayiwola, who received a cheque for N1 million, said that he did not expect that his aspiration for having his own house would come to a reality.


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