FGSHLB, FMBN Partner to Ease Housing Loans for Federal Workers
Federal Government Staff Housing Loans Board (FGSHLB) and the Federal Mortgage Bank of Nigeria (FMBN) have signed a Memorandum of Understanding (MOU) to strengthen collaboration aimed at improving access to affordable housing loans for federal public servants across the country.
The partnership represents a significant step toward addressing the housing needs of government employees by streamlining loan processes, expanding financing options, and enhancing service delivery. Under the agreement, both institutions will leverage their respective mandates and resources to provide more accessible, transparent, and affordable mortgage solutions at 6% interest rates.
Speaking at the signing ceremony in Abuja, the Head of the Civil Service of the Federation, Mrs. Didi Walson-Jack, announced that the President Bola Ahmed Tinubu-led Administration has approved a ₦10 billion housing loan scheme for federal civil servants, among other welfare schemes.
“A well-supported civil servant is a more efficient civil servant, leading to a more productive civil service,” she said. “The Federal Government has approved a ₦10 billion housing loan scheme to improve access to home ownership for civil servants. This loan will be facilitated through the Federal Mortgage Bank of Nigeria and the Federal Government Staff Housing Loans Board.”
The Executive Secretary, FGSHLB, Hajiya Salamatu Ladi Ahmed, emphasized the Board’s commitment to supporting federal workers in achieving homeownership.
“This collaboration is expected to simplify access to housing loans, reduce bureaucratic bottlenecks, and ensure that more public servants benefit from existing housing schemes,” she said.
The Managing Director/Chief Executive, FMBN, Mr. Shehu Usman Osidi, highlighted the Bank’s role as a key driver of Nigeria’s housing finance sector, noting that the partnership aligns with its mission to provide long-term, low-cost mortgage financing.
“By working closely with FGSHLB, the bank aims to scale up its impact and reach a broader segment of federal employees,” he said.
Key objectives of the
MOU include:
– Strengthening coordination in loan origination and disbursement
– Increasing awareness of housing finance programs among federal workers
– Speeding up processing and approval of mortgage applications
– Promoting sustainable and affordable homeownership solutions
According to a statement by the Board’s Head, Press and Public Relations, Mrs Ngozi Obiechina, this collaboration is expected to contribute meaningfully to the Federal Government’s broader housing agenda while improving the welfare and productivity of civil servants through increased access to decent and affordable housing.
Both the Federal Government Staff Housing Loans Board and the Federal Mortgage Bank of Nigeria reaffirmed their commitment to ensuring the successful implementation of the agreement and delivering tangible benefits to federal employees nationwide.
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