The Federal Mortgage Bank of Nigeria (FMBN), Katsina State Branch has sensitized members of staff of the University on its activities, stressing mostly on its National Housing Funds (NHF) Scheme.
The one-day sensitization workshop was held on Tuesday, 10th December, 2024 at the University.
Delivering a welcome remark, the Registrar of the University, Malam Muhammad Ibrahim welcomed the officials of the FMBN, commending them for honouring the University’s invitation to sensitize its staff.
According to the Registrar, the workshop was organized by the University with the aim of enlightening and sensitizing members of staff on the Federal Mortgage Bank and the services it stands to provide for them.
“On behalf of the University, I would like to welcome our presenters and wish them successful presentations”, the Registrar said.
Presenting the services of the FMBN, the Katsina State Branch Manager of the Bank, Abbas Ahmad Kila extended his sincere appreciation to the Management of the University for inviting his team to make the presentation.
“We have been making efforts to sensitize some organizations and they had refused to invite us. This is honestly an effort worth our commendation as well as emulation by other institutions in the state”, he said.
According to him, the services rendered by the Bank include but not limited to providing finances to civil servants to build, renovate or buy houses.
“Probably your terminal benefit may not be able to build your retirement home for you, because of that, why can’t you make a proper arrangement and preparation to have a territory in your father land no matter how small it might be?”, he questioned.
Highlighting the essence of the NHF, Abbas disclosed that the scheme was established by Act No.3 of 1992 with the aim of facilitating the mobilization of funds for the provision of houses for Nigerians at affordable prices.
Others were: “ensuring constant supply of loans to Nigerians for the purpose of building, purchasing and improvement of residential houses; providing incentives for the capital market to invest in property development.
“Encouraging the development of specific programmes that would ensure effective financing of housing development, in particular, low-cost housing, for low-income workers; providing proper policy control over the allocation of resources and funds between the housing sector and other sectors of the Nigerian economy.
“To provide long-term loans to mortgage institutions for on-lending to contributors to the fund”, he explained.
He stated that, the NHF Act. No. 3 of 1992 stipulates the eligibility and conditions for assessing the services of the scheme as, “Nigerians earning the minimum national wage and above per annum in either the public or private sector of the economy shall contribute 2.5% of his/her basic monthly salary to the Fund.
“Though, the provision necessitates all Nigerian workers to participate in the scheme, it however, offered them the opportunity to enjoy the numerous benefits it provides.
“Once the employer and the employee are duly registered, and there is a record of six consecutive months remittance to the Federal Mortgage Bank, you are then eligible to benefit from any of our facilities.
“The facilities include the Individual Construction Loan, Estate Development Loan, Home Renovation Loan, Estate Development Loan and Rent-On among others”, he explained.
The Branch Manager then encouraged all staff to utilize the opportunity by making efforts to fulfil all the requirements for assessing the services of the scheme, stressing that being the University, a young one, the staff stands to benefit most from the scheme.
He finally encouraged the University to leverage on Estate Development Loan (EDL), saying that it provides an opportunity for an institution like the FUTD to pursue loan for estate development where staff could own houses easily.
Delivering vote of thanks, The Deputy Bursar, Malam Nuhu Onimisi who represented the University Bursar at the occasion, applauded the Federal Mortgage Bank team for the sensitization.
“I wish to sincerely thank you for this very enlightening session. There is this saying that the retirement plan of an employee starts from the day he is employed”, he said.
Malam Onimisi then assured the presenters that the University Management would leverage on the opportunities available to it by looking into the various available windows for its staff’s development.
Umar Usman
Chief Information and Communications Officer
11th December, 2024
