By Echeburu Oby
Federal Mortgage Bank of Nigeria (FMBN) has disbursed loans of over 90 billion Naira to the National Housing Fund (NHF) subscribers, despite the funding limitations in the course of the last three years.
The size of mortgage loans disbursed are remarkable, it accounts for over 30 percent of the N249.5 billion loan portfolio that the Bank has recorded within the 25-year life span of the National Housing Fund (NHF) Scheme.
The amount translates to over 60% increase in the cumulative value of mortgage loans totaling N152.5 billion in year 2017 as of the time when the management team came on board to the sum of 249.5 billion Naira in March 2020.
