Federal Government Staff Housing Loans Board , (FGSHLB)and Nigeria Mortgage Refinancing Company, (NMRC) has signed a memorandum of understanding for N13bn mortgage refinancing.
The memorandum of understanding was signed yesterday, at the FISH Housing Summit, held at the International Conference Centre in Abuja.
Professor Charles Iyangete, Managing Director, Nigerian Mortgage Refinance Company who said his organisation will partner in delivering an innovative as well as constructive mortgage financing of affordable houses to civil servants, also revealed that the memorandum of understanding entered with his organisation, will enable them and other relevant agencies partnering in the FISH Programme, ensure that the housing deficit experienced by public servants are resolved within the best possible time.
It will be recalled that the FISH Programme, an initiative of the President Mohammadu Buhari led Federal Government, anchored by the office of the federal civil service of the federation, has entered into partnerships with ten primary mortgage bankers to facilitate prompt processing of mortgage applications with Federal Mortgage Bank of Nigeria.
Mr. Saheed Kayode Yemi Adelakun, Chairman, FISH Implementation Committee who revealed that the FISH program will be collaborating with FGSHLB and Nigeria Mortgage Refinancing Company, also said that the programme also hope to enter into partnership with manufacturers of building for discounted volume prices to drive the cost of houses at lowe prices.
“Admittedly, affordable housing is a tough programme to achieve the world over. The FISH Programme intends to leave no stone unturned to make success of this programme. In order to deliver houses at further reduced prices, FISH programme has to secure; direct allocation of land from the federal and state governments, as well provision of infrastructure at little or no cost, and additional sources of funding for construction and mortgage at single digit interest rates”. He said.