Gafar Alabi

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‎            The Ogun State Universal Basic Education Board (SUBEB) and stakeholders in the education sector have been sensitised on the procedures, requirements and benefits of the National Housing Fund (NHF), an initiative of the Federal Mortgage Bank of Nigeria (FMBN) aimed at promoting access to affordable housing.

‎          Speaking during the sensitisation meeting at the Board’s Conference Room, Oke-Mosan, Abeokuta,  Chairman of SUBEB, Evang. Olalekan Ifede, described housing as an essential asset for both teaching and non-teaching staff, hence, the sensitisation exercise was apt in educating prospective beneficiaries on what to do in order to have access to the mortgage.

‎          Represented by the Permanent Member I of the Board, Barr. Femi Odufowokan, the Chairman, urged relevant authorities to ensure that the housing loan remained affordable and accessible to members of staff willing to benefit from the scheme. He also advised beneficiaries to ensure prompt repayment of loans obtained under the initiative.

‎          In his welcome address, the Director, Administration and Supplies, Mr. Femi Fatade, said the meeting was aimed at giving the Board a better understanding of the Federal Mortgage Bank’s housing initiative, noting that the engagement would also enable the Board to explore ways of improving access to affordable housing for its workforce, while addressing concerns surrounding the scheme.

‎          Also speaking, the Director, Finance and Accounts, Mr. Yemi Bamgbose, said the relationship between FMBN and the Board had come a long way, saying the Board would be guided by relevant laws and principles, stressing the importance of protecting its image and integrity, thus, assuring that loans obtained by SUBEB workers would be repaid as agreed.

‎          Contributing, the Ogun State Secretary of the Nigeria Union of Teachers (NUT), Comrade Samson Oyelere, urged the Federal Mortgage Bank to encourage teachers to take advantage of the scheme, adding that the Memorandum of Action being signed would help prevent possible litigation in the future.

‎          Speaking on the purpose of the engagement, the Head of Loans at FMBN, Dr. Adedeji Badejo, said the visit was aimed at strengthening the partnership between the bank and the Board to facilitate seamless disbursement and repayment of housing loans through salary deductions, highlighting some of the requirements for accessing the loan, including the provision of three guarantors.

‎          He further stated that eligible NHF contributors could access up to ₦50 million, subject to affordability and other conditions, at a stated interest rate of 6 per cent, with a maximum repayment period of 30 years.

‎          He advised staff who intend to resign from service or relocate abroad to notify the relevant authorities in advance to avoid complications in the repayment process.

‎          Also present at the meeting were the State Chairman of the Association of Primary School Headteachers of Nigeria (AOPSHON), Alhaji Tajudeen Adeosun; his counterpart from the Association of Primary School Teachers of Nigeria (APSTON), Comrade Oluwaseun Salisu; a representative of the Association of Senior Civil Servant of Nigeria; and a representative of the Non-Academic Staff Union (NASU), Comrade Tijani Sakiru, among others.