NiDCOM,FMBN Meets On Sustainable Housing Programme
Maryam Aminu
The Nigerians in Diaspora commission had a strategic meeting with the Federal Mortgage Bank of Nigeria on sustainable housing programme for the Nigerian Diaspora
The Chairman/CEO Dr. Abike Dabiri-Erewa has approved the extension of the launch of the diaspora mortgage loan
NiDCOM’s Chairman announced the approval when a delegation from Federal Mortgage Bank of Nigeria led by the MD, paid a courtesy visit to Nidcom office Yesterday in Abuja.
Dabiri-Erewa noted that since it was a new management of the Federal Mortgage Bank that came on board, time will be given to them to acquaint themselves with the product.
” The launch may come before the 3 months but lets have a deadline of 3 months. There is no rush, it is better to have a perfect product than start a project that will not be sustainable” she said
“Nigerians in the Diaspora are excited and looking forward to the Diaspora mortgage loan but we will explain to them on the need to hold the launch on a new date
She assured that the 3 month period will be used to double efforts to provide perfect product for Nigerians and Nigerians in the diaspora
The NiDCOM Boss urged FMBN to ensure seamless process in the payment, registration and all that is needed to be done
She noted that the NiDCOM committee earlier set up to work with the FMBN would continue working with them to bring about perfect product for the Nigerians in the diaspora
She commended the Minister of Housing Ahmed Dangiwa who is already doing a lot like the seamless national housing programs etc
Earlier, the Managing Director, Federal Mortgage Bank of Nigeria (FMBN), Shehu Usman Osidi expressed recognition on the critical work NiDCOM is undertaking on behalf of the good citizens of Nigeria living outside the country
Osidi noted that it was slightly less than two months the new management of FMBN came on board for which the date for the launching across locations was already set
He requested for a ninety day extension of the date earlier set for the launching of the diaspora mortgage loan.
Osidi urged the NiDCOM Boss to shift the date set earlier by 3 months to enable the FMBN tie up loose ends for a hitch free take-off of the product
He disclosed that the extension will enable the bank to conclude due diligence on the product and a breathing space to finalize outstanding operational issues on the product
“The Diaspora mortgage loan is a product we take seriously because we see Nigerians in the diaspora as very strategic not only to their immediate communities but to the Nigerian economy generally. They have contributed significantly to our economy and over twenty-two billion naira (22b) is received annually via remittance from the diaspora”
As to the readiness of the bank he said “we have assessed the preparations for the launch of the product on the side of the bank and we must point out that in our assessment we are not fully ready for the launch particularly on the set date”
FMBN Boss noted that the management of the Federal Mortgage Bank is also seeking extension of the date because of inadequate fund
“The issue of funding for the launching is an issue of paramount importance which needs to be sorted out as we have experienced deep cuts in our proposed budget for 2024 across all expenditure line items” he said
