FMBN Funds 1,590 Homes, Disburses N9.5bn Loans to 10,601 Nasarawa Workers

The Federal Mortgage Bank of Nigeria (FMBN) has significantly boosted housing access and welfare for civil servants in Nasarawa State, financing 1,590 housing units and disbursing over N9.5 billion in home renovation loans to 10,601 workers. This initiative is part of a broader partnership with the Nasarawa state government aimed at expanding affordable housing options and enhancing the living conditions of state employees.

FMBN Managing Director and Chief Executive Officer, Shehu Osidi, highlighted these achievements during a visit from Nasarawa State Governor Abdullahi Sule to the bank's headquarters in Abuja. Osidi noted that beyond construction, the bank has disbursed N94.7 million for mortgages under the state's Owner-Occupier Housing Scheme to 29 beneficiaries. Additionally, FMBN has refunded over N1.02 billion in National Housing Fund (NHF) contributions to 5,462 retirees from the state.

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To date, the Federal Mortgage Bank of Nigeria has financed over 1,590 housing units across Nasarawa State. Beyond housing construction, we have disbursed over N9.5 billion in home renovation loans to 10,601 civil servants in the state, enabling thousands of hardworking families to improve the quality of their homes.

Osidi reaffirmed FMBN's commitment to President Bola Tinubu's Renewed Hope Housing Programme, detailing the bank's nationwide housing project funding and a N100 billion off-taker guarantee. He reported substantial operational growth, with NHF collections rising by over 48% from N103 billion in 2024 to N152.4 billion in 2025. The bank also saw a significant increase in new NHF contributors and expanded refund disbursements to beneficiaries. In 2025, FMBN financed 6,911 affordable housing units, achieving 96% of its annual target.

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As of today, N94.7 million has been disbursed with respect to 29 beneficiaries under the scheme. Furthermore, the bank has refunded over N1.02 billion in National Housing Fund contributions to 5,462 retirees from Nasarawa State, ensuring that workers who faithfully contributed to the scheme received their benefits upon retirement.