The Federal Mortgage Bank on Wednesday announced that it had so far disbursed N265 bn to subscribers under the National Housing Fund .
It also announced that subscribers to the fund had increased to 5 .1 million , as 570 ,000 new contributors had been added to the NHF scheme .
The Managing Director of FMBN , Ahmed Dangiwa, said the cumulative disbursement of N265 bn represented an increase of about N112 bn or 74 per cent over the N152 . 5 bn which the current management met in 2017 .
Dangiwa, who spoke at the 2020 Housing Summit in Abuja , stated that within the last three years , about 8 , 700 new homes had been added , a growth of 43 per cent , to attain a cumulative 29 , 133 funded housing units .
He also noted that within the three – year period , NHF collections grew by N 186 bn , representing 80 per cent , to reach a cumulative amount of N418 bn as of September 2020 .
On the home renovation micro – loan , Dangiwa said the bank had been able to grow this by over 2 ,000 per cent from about 2 , 600 to 56 , 000 loans in the last three years .
In terms of subscriber base , the FMBN boss explained that about 570 , 000 contributors had been added to attain a contributor base of over 5 . 1 million NHF subscribers .
Dangiwa told participants at the summit that 34 out of the 36 states of the federation were compliant regarding workers ’ contributions with five states resuming contributions within the past three years .