I got this on WhatsApp is iy real and can someone who understands please explain the conditions in simpler terms

The National Housing Scheme released by Federal Government to give the common man an opportunity to l eave in a decent house is available.
You have to open a federal mortgage bank account which is the first criteria for commencing the process to receive the said loan.
FMB conditions are as follows:
1. 2.5% of salary will be deducted and saved in FMB account every month.
2. The participant must have saved consistently for six months to gain eligibility for the loan.
3. Upon gaining eligibility, you will be required to contact a primary mortgage institution/bank and follow through their procedures to get the loan. (FMB gives loans through PMI's).
4. You must earn monthly salary of not less than 50k to participate.
5. You must be 18years and above to participate.
6. You should have a land with COFO to get the loan otherwise the loan can be used to purchase a house in an estate with COFO.
6. Application for loans of 5million comes with 0 equity contributions.
5milliin and above comes with 10% equity contributions.
In addition FMB will give you upto 30 years to pay back if you are 30years and below.
If you are above 30years you will need to subtract your age from the government retirement age of 60 years, to get the remaining years which is now your pay back period.