‘Affordable housing will tackle corruption’

Mrs Fika made this observation in Abuja last week when she visited the Managing Director of Nigeria Mortgage Refinance Company (NMRC), Mr Sonnie Ayere.The Executive Secretary noted that without proper motivation of public servants to drive the policies and programmes of government, the private sector organizations will also be incapacitated.Expressing her commitment to deliver 1,000 […]

Mrs Fika made this observation in Abuja last week when she visited the Managing Director of Nigeria Mortgage Refinance Company (NMRC), Mr Sonnie Ayere.
The Executive Secretary noted that without proper motivation of public servants to drive the policies and programmes of government, the private sector organizations will also be incapacitated.
Expressing her commitment to deliver 1,000 housing units out of the government’s targeted 10,000 units this year for public servants if given the opportunity Fika said the template of the board is risk free and the repayment option is made easy for the off takers and the mortgagers.
“The new mortgage refinance will serve as a vehicle to actualise the dream of transformation agenda as it effects the housing sector especially for public servants,” she stressed.
Also speaking, the host, Ayere described the courtesy call by staff of the Federal Government Staff Housing Loans Board as timely especially now that there is renewed vigour for effective housing delivery.
He however expressed reservation on the current three percent interest rate charged by the board saying it is not market driven.
He was of the opinion that with the high demand for housing loans by public servants from the board, it will be better to look at an option that is market driven, achievable and sustainable.
Ayere advocated a tripod agreement whereby the board will partner with the Federal Mortgage Bank of Nigeria (FMBN) and tap into the savings of the public servants through the National Housing Funds (NHF) and come to a weighted single-digit interest rate which will make sufficient funds available for workers.
The federal government is collaborating with stakeholders in the housing sector to deliver 10,000 housing units this year through mortgage refinancing.
Mortgage Refinance which was launched in January this year by President Goodluck Jonathan is intended to boost mortgage financing in Nigeria for housing delivery and home ownership schemes as well as reduce all impediments to a sustainable and dynamic housing market.