I receive several messages from people seeking explanation on how they can access a mortgage loan. Some of them contribute money from their salaries monthly through statutory deductions. Well, it appears the situation is getting put of hands going by a Guardian Article featured below. It appears some Government MDA’s are all threatening to stop contribution since their staffs can’t access loans. Whilst the NHF explains ignorance is one of the reason why most people don’t know they can access, I feel they should do more to enlighten workers.
I also found he following details about NHF quite interesting.
Meanwhile, sources at the FMBN said about N106 billion has been realised as contributions into the National Housing Fund (NHF) as at March 2013.
The scheme currently has only 3,772,031 contributors.
Information obtained from the Corporate Affairs unit of FMBN in Abuja indicates that out of the amount, about N100billion has been disbursed since inception of the scheme to March 2013 with 73,676 eligible contributors as beneficiaries.
A breakdown of the figure showed that about N40 billion was disbursed by FMBN to Primary Mortgage Institutions for the financing of housing for 22,246 beneficiaries while about N60billion was granted as Estate Development Loan to some private developers, State owned housing corporations and the Federal Housing Authority for the construction of 36,348 housing units across the country.