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NHF Receives Major Boost: Mortgage Bank Disburses N10.6 Billion

The PMB announced the distribution of funds to mark the successful processing, disbursement, and handing over of keys for houses to beneficiaries, many of whom are medical practitioners and doctors.
 
During the house handover event in Abuja, Hayatudeen Awwal, the company's Managing Director, shared that they were pleased to report that they had facilitated mortgage loans on behalf of 962 Nigerians, resulting in the acquisition of houses spanning various categories. These houses are located in Abuja, Lagos, Akwa Ibom, Imo, Enugu, Plateau, Kaduna, Kano, Sokoto, and Zamfara States. Notably, these houses are fully constructed, with occupants already residing in them.
 
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Hayatudeen emphasized that through the housing index, they had generated more than 200 employment opportunities. He highlighted how this approach contributes to the entire value chain, fostering employment, income generation, industrialization, and aligning with the government's aim of delivering affordable housing.
 
Gbenga Ashafa, FHA's Managing Director, underscored the significance of mortgage facilities in enabling more Nigerians to become homeowners, countering the cash-based approach that had perpetuated corruption and hardships. He mentioned that FHA Mortgage Bank had cultivated a substantial network of over 40,000 profiled off-takers, establishing strong collaborations with both public and private sectors while demonstrating prowess in retail banking.
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Ashafa stressed that the National Housing Fund (NHF) is a resource that benefits all, urging beneficiaries to contribute and repay after moving into their homes, thereby ensuring a continuous cycle of assistance. This approach, he noted, would enable others to benefit from the fund's revolving nature.
 
Adejo Arome, one of the beneficiaries, praised the efforts of FMBN and FHA in making homeownership achievable for medical professionals, expressing optimism that this initiative could mitigate issues like brain drain and recurrent strikes by aiding more doctors in becoming homeowners.

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