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Mortgage Bank Increases Housing Loan To N50m
Published
2 years agoon
By
Editor
The Federal Mortgage Bank of Nigeria, FMBN, has announced an increase in the National Housing Fund mortgage loan limit from N15 million to N50 million per applicant.
Chairman of the Board of Directors of FMBN, Mr Ayodeji Gbeleyi disclosed this during the commissioning ceremony of Staff Lagos State Development and Property Corporation Staff millennium Mission Planning and Control Station Ltd Estate at Emuren axis in Sagamu area of the State.
Gbeleyi said the decision was made in response to requests by the higher income-earning segment of NHF subscribers.
According to him, the increase in the mortgage loan limit demonstrates the FMBN’s commitment to delivering affordable housing to Nigerian workers, especially those in the public and private sectors who are contributors to the NHF Scheme managed by the bank.
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His words: “The scheme, established in 1992, enables workers to contribute 2.5% of their monthly income and access loans to cater for their housing finance needs, such as outright purchase, self-construction, home renovation, and rent-to-ownership.
“More recently, the Board of Directors approved an increase in the NHF mortgage loan limit from N15 million to N50million per applicant in response to requests by the higher income earning segment of NHF subscribers.
“The maximum loan limit, however, is subject to affordability based on the monthly development, I want to assure you of the monthly income of an applicant. Notwithstanding,”
On his part, the Managing Director/Chief Executive of FMBN, Madu Hamman, said the 72-unit project was fully funded by FMBN and is in fulfillment of the commitment to the homeownership dreams of Nigerian workers who are contributors to the National Housing Fund (NHF) Scheme.
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He added that the FMBN Cooperative Housing Development Loan Scheme (CHD) funds housing constructions for housing cooperative societies and also funds the acquisition of the houses developed for cooperative members through regular Individual NHF loans.
Also speaking, the Elemuren of Emuren, Oba Adesegun Abolaji, eulogized FMBN and LSDPC for the establishment of the housing estate, which is noted as a great development of Emuren land.
Oba Abolaji promised the community will provide security of lives and properties and 50 more acres of land to support their efforts in bridging the housing gap in the country.
The monarch said: “There are so many things we lack here. Now that you have exposed us to the outer world. We need good roads. As I have said before, we will provide 50 more acres of land, so that the housing project will continue. Housing will not be a problem for anybody.
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“This estate is a beautiful one but I will urge the government to provide us with social amenities, especially good roads. The road is in bad condition. We have everything except good roads.”
Governor Babjide Sanwo-Olu of Lagos State, who was represented by the Permanent Secretary on housing, Kamar Olowoshago, commended FMBN and the Lagos State Development and Property Corporation for their commitment to the advancement of workers’ welfare and delivering the project promptly.
Sanwo-Olu also called for more collaboration with FMBN to bridge the housing deficit gap in the state.
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17-year-old Nigerian Named World Best In English At 2025 TeenEagle Finals In London
Published
13 hours agoon
August 5, 2025By
Editor
…Outperforms over 20,000 participants from 69 countries
Nafisa Aminu, a 17-year-old student of Tulip International College, Yobe State, has emerged world’s best in English at the 2025 TeenEagle Global Finals.
The 17-year-old was named the World Best in English Language Skills at the 2025 TeenEagle Global Finals held in London, United Kingdom.
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The TeenEagle competition is an internationally recognised contest that tests English proficiency, critical thinking, and communication skills, attracting students from both English-speaking and non-English-speaking nations.
Nafisa’s triumph was confirmed in a statement by the head of her family, Hassan Salifu, who attributed her success to “dedication, discipline, and the enabling support of the state government.”
Representing Nigeria, Nafisa outperformed over 20,000 participants from 69 countries, a historic feat that has thrust her into the global academic spotlight and brought honour to Nigeria.
News
FG Promotes 30 Senior NCoS Officers To Assistant Controller General
Published
13 hours agoon
August 5, 2025By
Editor
The Civil Defence, Correctional, Fire and Immigration Services Board has approved the promotion of 30 senior officers of the Nigerian Correctional Service to the rank of Assistant Controller General of Corrections.
The announcement was made in a press statement signed by the NCoS spokesperson Umar Abubakar, on Tuesday.
“The Civil Defence, Correctional, Fire and Immigration Services Board has approved the promotion of 30 Controllers of Corrections to the prestigious rank of Assistant Controller General of Corrections,” the statement read.
Abubakar noted that the promotions were made in line with CDCFIB’s commitment to “merit-based advancement, professional excellence, and the continuous strengthening of leadership within the Nigerian Correctional Service.”
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“Among the newly promoted officers are twenty-seven general duty officers who have demonstrated exceptional dedication, leadership, and operational competence in various formations across the country.
“In addition, three professional officers have also been elevated in recognition of their outstanding service and specialized contributions in the areas of Medical Laboratory Science, Nursing, and Public Health,” the statement read.
According to the statement, the promotion exercise was said to align with the ongoing reforms in the Service, a key part of President Bola Tinubu’s Renewed Hope Agenda.
The statement credited the reform momentum to the Minister of Interior, Dr. Olubunmi Tunji-Ojo, whose efforts were described as “unwavering” and “unprecedented.”
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Controller General of Corrections, Sylvester Nwakuche, congratulated the newly promoted officers, charging them to rise to the responsibilities of their new roles.
“I urge them to redouble their effort to service delivery, strategic leadership, and the core mandates of reformation, rehabilitation, and reintegration of inmates,” he said.
He further stressed that the promotions are not merely rewards for past service but “a call to higher responsibility in line with global best practices in correctional management.”
“The Service remains committed to building a motivated, disciplined, and professional workforce capable of meeting the complex demands of modern corrections and public safety,” Nwakuche added.

Governor Ademola Adeleke of Osun State has travelled to the United States to attend the wedding ceremony of his nephew and music star, David Adeleke, popularly known as Davido.
Recall, Davido confirmed that he and his wife, Chioma Avril Rowland, will have their white wedding in Miami, Florida, in August 2025.
He made the announcement during an interview on The Breakfast Club, aired on Tuesday, April 8, 2025.
The governor’s spokesperson, Olawale Rasheed, confirmed Adeleke’s trip in a statement issued on Tuesday, in response to concerns raised by the opposition All Progressives Congress over the governor’s whereabouts.
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“Governor Adeleke left Nigeria for the United States via the family’s private jet a few days ago for the wedding of the global music icon, his beloved nephew, David Adeleke.
“His Excellency is extending an invitation to the opposition party to attend the event and share in the joy of the occasion with the Adeleke family.
“Those unable to attend may join virtually,” Rasheed stated.
He noted that Adeleke had not taken any official vacation since assuming office in November 2022 and said the current trip would be short.
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“Additionally, from the November 2022 date, the governor has not gone on official vacation.
“For this current trip, the Governor has again chosen to make it a short one to continually attend to crucial state functions.
“Meanwhile, the Governor is in constant communication with his deputy, Prince Kola Adewusi, who is supervising activities of the government,” Rasheed added.
Earlier on Tuesday, the Osun APC had accused Adeleke of leaving the state without informing residents or formally transmitting power to his deputy. The party described the governor’s absence as “abnormal.”
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In a statement signed by its spokesperson, Kola Olabisi, the party said, “The question being asked in hushed tones in some public places, inside commercial buses and by motorcycle riders and their passengers in the state, is where could be the whereabouts of their governor for this long.
“As the governor of all and sundry, we as a party need to know the whereabouts of the governor and who has been holding fort for him during his absence from the state since two weeks ago.
“Did the governor duly transmit power to his deputy who is constitutionally covered to temporarily step into the shoes of his principal in his absence?”
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