FMBN assures implementation of housing scheme for workers

The Federal Mortgage Bank of Nigeria (FMBN) has assured labour of partnership that will ensure mass housing scheme in the country.

The managing director of FMBN, Ahmed Dangiwa, said this during the 2021 annual general meeting of the Real Estate Developers Association Of Nigeria (REDAN) on Wednesday.

Dangiwa who stated this while corroborating REDAN on efforts to avert money laundering, also decried that the federal government remains resolute in ensuring that the sector complies with money laundering and other extant laws.

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Speaking at the meeting, the president of REDAN, Dr Aliyu Wamakko, informed that the ‘Real Estate (Regulation and Development) Bill’ will address all anomalies of real estate and consultancy services amongst other issues that ought to be looked into in the sector.

He also said the Bill will also see to the valuation of real estate assets, prevent the breakdown of law observed among the realtors, real estate manager and others.

Wamakko also noted that at the moment the association has about 20,000 home-seekers in its data bank, adding that it ready to synergize with the Federal Ministry of Work and Housing to provide homes for them in different locations in the country.

According to him, “We have embarked on initiatives to sanitize Nigeria’s Real Estate Sector. Accordingly, we proposed a Bill tagged ‘The Real Estate (Regulations and Development) Bill’ to the 9th Senate of the National Assembly. It is heart-warming to inform this meeting that the 1st reading of the Bill took place on 27th November, 2020.

“At this juncture, we wish to solicit for the utmost cooperation of the Honourable Minister and other stakeholders here present to support the Bill for its eventual signing into law.”

Wamakko also noted that the association has sustained its collaboration with the Special Control Unit Against Money Laundering (SCUML) and the Nigerian Financial Intelligence Unit (NFIU) which are agencies of the Federal Government to ensure that members comply with guidelines on money laundering and terrorism financing and other extant laws.

On mass housing plans, he said the association has initiated the Housing Development Plan tagged ‘Rural-urban Housing Initiative (RUHI-774), aimed at developing at least 100 housing units in each of the 774 Local Government Councils of the federation including the FCT.