Nigeria News
CBN Social Housing facility at 5% per annum ready for disbursement – FG
The Presidency has announced that the N200 billion facility set aside for the Federal Government Social Housing Scheme is ready for disbursement to start the project.
This follows the finalization of the agreement with the Central Bank of Nigeria (CBN) with a guarantee from the Federal Ministry of Finance for the scheme, which is expected to be disbursed at 5% per annum, generate 1.8 million jobs and deliver houses to 1.5 million Nigerian families.
If you have missed out the registration, kindly proceed to CBN Social Housing Loan Registration Portal 2021 apply at www.fhfl.com.ng
TRENDING NOW on searchngr.com
- AgroReturns Farm Investment Review 2021 – Get 30% of your Capital
- N-power: How To Solve “Transaction Failed, Please Try Again Later” Issue
- Application for Kickstart Grant 2021 Now Open (Get up to N2million in Cash)
- 5 things to check if an online course is a scam
- Open Heaven 31st May 2021 RCCG Daily Devotional (The Choice Is Yours)
The disclosure is contained in a statement issued by the Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, on Sunday, in Abuja.
The presidential aide said that the National Social Housing Programme (NSHP), under the Economic Sustainability Plan (ESP), had received a further boost.
What the Media Aide to the Vice President is saying:
Laolu Akande, in his statement, said, ”Following the finalization of the agreement with the Central Bank of Nigeria (CBN) on the N200 billion facility, the drawdown, with a guarantee from the Ministry of Finance, is now commencing to fund the housing project.
The fund, which would be released in tranches, is expected to cover the NSHP project execution cost of the houses that would be constructed under the social housing project.
Under the Social Housing Programme, the Federal Government plans to support 1.5 million Nigerians to acquire low-cost houses either through mortgage options or Rent to Own option.
The scheme is expected to also generate 1.8 million jobs and deliver houses to about 1.5 million Nigerian families.’’
It can be recalled that in September 2020, the CBN, in a circular, announced the approval of the sum of N200 billion as a mortgage finance facility to the Family Homes Fund Limited (FHFL), targeted at low-income earners.
The financing initiative is to be implemented in collaboration with the Family Homes Fund Limited as the lead developer, as it was introduced to support the Federal Government’s Economic Sustainability programme.
This fund which is to fast-track the construction of 300,000 homes in the 36 states of the federation including the Federal Capital Territory and to create up to 1.5 million jobs in 5 years, has an interest rate of not more than 5% per annum and is expected to be repaid in not more than 3 installments within the tenor of the facility.
Source: nairametrics.com
- Business7 days ago
Link to Apply for FG Credit from CREDICORP
- Education2 days ago
Jamb Result Checker 2024 (JAMB USSD Code)
- Business7 days ago
How to Apply for NYSC ETC Quick Cash Loan (Up to N100,000)
- Education2 days ago
Breaking – JAMB Results are Out! How to Check
- Education7 days ago
How to Check JAMB Result 2024 Online
- Nigeria News7 days ago
How to Apply for NYSC Business Loan 2024
- Business7 days ago
A Step-by-Step Guide to Accessing FG Consumer Credit with CREDICORP NG