NIS secures N60m FMBN housing loan for staff

3 Min Read

The Comptroller-General of the Nigeria Immigration Service (NIS), Mr Muhammad Babandede, says the service has secured a 60-million-naira housing loan facility for officers and men.

Babandede disclosed this on Wednesday in Abuja while presenting cheque to some of the beneficiaries, secured from Federal Mortgage Bank of Nigeria (FMBN).

He said that the measure was part of efforts to enhance the welfare package of the workforce in a bid to boost their productivity.

He added that “the scheme was a partnership between the NIS and our National Housing Fund (NHF) managers, the Federal Mortgage Bank of Nigeria.



“This programme is designed to leverage on the National Housing Fund contributory package to ensure that our staff get decent accommodation.

“With the low interest rate, I believe this is a gift and this will go a long way in enhancing the productivity of officers and men of the service.”

The NIS boss decried the fact that most officers retire from service after 35 years without any decent accommodation.

Babandede expressed optimism that the loan scheme which would guarantee affordable accommodation for NIS staff, would go a long way in increasing productivity and curbing corruption.

Earlier, Mr Charles Ajiba, the Executive Director, Loans and Mortgage, FMBN, said that the mortgage loan scheme, termed Housing Renovation Loan, was designed to help officers to renovate their houses.

He said N1 million was presented to each of the 60 NIS officials after proper scrutiny for the renovation/facelift of their houses.

He said the interest rate of just six per cent would be charged, while officers would pay back within five years, depending on their rank and remaining years in service.

Ajiba, however, said that those on the housing renovation loan could not apply for another housing mortgage until they complete payment.

He said the FMBN had secured approval to wave equity contribution for any housing mortgage of less than N5 million as part of plan to make the scheme more affordable and friendly. (NAN)

Share this Article