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Mortgage Bank Increases Housing Loan To N50m

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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.

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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.

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“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.

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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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Migration Agency Warns Migrants Against Irregular Travel Routes

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The International Organisation for Migration (IOM), in collaboration with Giving is Healing Foundation, has sensitised residents of Ayobo in Alimosho Local Government Area of Lagos State on the dangers of irregular migration and the need to embrace legal travel procedures.

Speaking during a sensitisation programme held at Megida Ifelodu Community Development Association in Ayobo, the founder of Giving is Healing Foundation, Mr. Gbolahan Ayediran, warned intending migrants against using illegal travel routes.

Ayediran said many Nigerians desire to migrate abroad in search of better opportunities but often ignore proper procedures, thereby exposing themselves to several dangers.

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“Lots of people want to migrate and most of them do it in the wrong direction. The reason for the programme is for us to advise people on how they can migrate in the right way. As much as migration is their right, they should do it correctly,” he said.

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He advised intending travellers to obtain the necessary travel documents before embarking on any journey, noting that such documents include international passports, visas, flight tickets and yellow cards, depending on the destination country.

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According to him, migrants should also gather adequate information about their destination countries to enable them make informed decisions before travelling.

Ayediran further highlighted some of the dangers associated with irregular migration, including abuse, exploitation, discrimination and forced labour.

Also speaking, the Chairman of Megida Ifelodu Community Development Association, Elder Mathews Amusan, commended the organisers for enlightening members of the community on safe migration practices.

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He urged residents planning to travel abroad to always follow legal migration procedures to avoid falling victim to human trafficking and other migration-related challenges.

One of the participants, Mr. Kolawole Adenoko, said the programme enlightened him on the dangers of irregular migration and the importance of travelling through the proper channels.

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He added that he would also educate his relatives and friends on the risks associated with illegal migration.

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Shatta Wale Bailed Burna Boy From Ghana Prison After Arrest For Smoking Weed – Captan

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Ghanian singer, Captan, has claimed that his former record label boss, Shatta Wale, once bailed Nigerian singer Burna Boy out of prison in Ghana after he was allegedly arrested for smoking weed.

Speaking in a recent podcast interview, Captan claimed that Shatta Wale sent him and others to free Burna Boy from police custody.

He also claimed that Shatta Wale and his group once accommodated Burna Boy when he was being hunted by some dangerous men.

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Captan said, “I once bailed Burna Boy out of prison in Ghana when he was arrested for smoking weed. Shatta Wale sent me and some guys to go and free him from police custody.

“There was a time we also accommodated him when some people were after his life. We helped him settle the case.”

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He added that he and Burna Boy are no longer in good terms after the Nigerian artist’s fallout with his mentor, Shatta Wale.

He, however, said he and Shatta Wale are open to reconciling with Burna Boy if he asks for it.

Watch the video here

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Children’s Day: Chaos At Ogbe Stadium As Dozens Faint

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Chaos erupted on Wednesday during the Children’s Day celebration as dozens of students reportedly collapsed following a stampede triggered by the use of pepper spray.

The event,
organised by the Edo State Ministry of Education at the Samuel Ogbemudia Stadium was disrupted after some male students of Ihogbe College allegedly made uncompromising advances towards female students at the venue.

‎ A parent who identified himself as Oboh Emmanuel said, “the behaviour of those uncultured students attracted the attention of bouncers stationed at the stadium as they rebuked the male students.”

‎Oboh said the affected students later regrouped and attacked the bouncers, leading to a confrontation within the crowded arena.

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It was gathered that in the ensuing confusion, the bouncers were reported to have deployed pepper spray in an area occupied by a large number of students.

‎Several students, particularly female students, reportedly fainted after inhaling the substance, while others sustained injuries after being stepped on during the ensuing melee.

‎The panic was said to have spread across the stadium as students, teachers and parents scampered for safety.

‎Many of the affected students were reportedly rushed to the Edo Specialist Hospital for medical attention.

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Reacting to the incident, Chief Press Secretary to Governor Monday Okpebholo, Dr Patrick Ebojele, said the security personnel that fired the tear gas had been detained.

He said all the students, except two, that were rushed to the hospital have been discharged.

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Ebojele stated that doctors wanted to observe the students till tomorrow before allowing them to go home.

The two students are not seriously injured. Doctors want to observe them overnight. Permanent Secretary, Ministry of Education is still at the hospital. The man who used pepper spray has been detained.

“The incident did not happen the way it is being exaggerated. All modalities were put in place to ensure the children enjoyed their day.”

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