In a bid to support university workers and students, the Federal Mortgage Bank of Nigeria has revealed its intention to finance the construction of student hostels and staff quarters as part of its loan scheme offerings.
During the 2024 FMBN Management Retreat, the Managing Director, Mr. Shehu Osidi, announced this strategic initiative. The theme of the Retreat is focused on “Improving Efficiency and Customer Service Delivery for Developmental Impact”.
Osidi mentioned that FMBN is set to sign a Memorandum of Understanding with Shelter Afrique Development Bank to explore funding options for new initiatives such as rental housing and student hostel development.
He highlighted the importance of catching students early to introduce them to FMBN’s services while on campus as they eventually become part of the workforce after graduation.
The FMBN aims to collaborate with universities to provide hostel financing for current students, ensuring a smooth transition into the workforce once they graduate.
Under the Renewable Agenda of the President facilitated by the Federal Ministry of Housing and Urban Development, an MOU was signed with a consortium of developers to raise funds for housing construction via a public-private partnership.
By nurturing partnerships and improving efficiency, FMBN seeks to widen its impact on affordable housing in Nigeria and fulfill its mandate.
Osidi emphasized the importance of changing the narrative around FMBN’s loan approval processes by enhancing efficiency in service delivery.
He encouraged staff to be proactive, innovative, and focused on providing exceptional customer service through strategic goals and efficient operations.
The retreat serves as an opportunity to evaluate FMBN’s progress, address challenges hindering its growth, and devise solutions for further advancement.
Overall, Osidi emphasized the need for continuous improvement and proactive measures to enhance FMBN’s efficiency and service delivery.
(NAN)