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FMBN Disburses N41.96 Billion, Seeks Recapitalisation.
Byline: Yinka Kolawole
The Federal Mortgage Bank of Nigeria (FMBN) has disbursed a total of N41, 958,756,434 to primary mortgage institutions (PMIs) and estate developers, representing about 52.8 per cent of the N79, 515,416,273 approved for disbursement as at the end of January 2009.
Managing Director/Chief Executive, FMBN, Mr. Abdulsalam Ahmed, who disclosed this, also called for the recapitalisation of the apex mortgage institution in the country so as to adequately help finance housing development in the country.
Ahmed noted that between 2006 and January 2009, it accumulated a total of N41, 963, 846, 003 through the National Housing Fund (NHF) scheme …
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