Fostering Inter-agency collaboration: FMBN seeks FIRS collaboration on NHF

In a bid to get to get non-contributing corporate organisations to key into the National Housing Fund Scheme (NHF) the Federal Mortgage Bank of Nigeria (FMBN) has sought for the collaboration of the Federal Inland Revenue Service (FIRS) by accessing its database to obtain list of corporate organisations in the country and enhance NHF scheme.

The Managing Director, FMBN, Ahmed Dangiwa, during a courtesy call on the management of the FIRS in Abuja, noted that the data is required by FMBN to expand its client base, boost NHF collection and increase the bank’s liquidity in order to provide long-term housing finance to Nigerians.

According to a statement issued in Abuja, he said the courtesy call was also part of the efforts of the FMBN to reach out to its customers to sensitise them on the activities of the bank and the benefits of the NHF scheme, which aimed at providing decent and affordable housing to low and medium income group at soft interest rate of 6per cent.

He, however, lamented that the reluctance by some corporate organisations and state governments to deduct and remit 2.5per cent of thebasic salary of their workers to the FMBN was having anadverse effect on the operations of the FMBN and the NHF scheme, adding that FMBN is presently collaborating with relevant government agencies to enforce compliance.

The Managing Director explained that, “Some of the products markets by the FMBN to include cooperative loans, rent-to-own, home renovation loan and the National Housing Fund loan.

To enhance the affordability status of borrowers, the bank recently reviewed downward the personal equity contribution.”

Responding, the Executive Chairman of FIRS, Mr. Tunde Fowler, assured FMBN of his readiness to partner the FMBN in meeting its mandate, while also promising to allow the bank access FIRS database to access the list of all corporate organizations with a view to boosting the bank’s NHF’s
collection.