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CBN Okays ₦200 Billion Housing Loan For Low Income Earners - Politics - Nairaland

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CBN Okays ₦200 Billion Housing Loan For Low Income Earners by 2020Experience(m): 7:32am On Sep 16
CBN okays N200b housing loan for low income earners
September 16, 2020.

THE Central Bank of Nigeria (CBN) has announced N200 billion mortgage finance loan to Family Homes Fund (FHF).

The fund is for the building of 300,000 homes in the 36 states of the federation and the Federal Capital Territory. It is also expected to help create up to 1.5 million jobs in five years.

The CBN framework for the implementation of the Family Homes Financing Scheme released yesterday indicates that the fund would be released to FMF on project basis, subject to the cumulative maximum limit of N200 billion.

According to the framework, the three-year term loan will enable FHF finance the construction of social housing units for people on low income at an interest rate not more than five per cent per annum (all inclusive).

The apex bank said it introduced the financing initiative to support the Federal Government’s Economic Sustainability programme.

The bank added that the programme was designed to utilise, at least, 90 per cent locally manufactured inputs so as to conserve foreign exchange.

The CBN said: “In that regard, the programme will deliberately aim to revitalise local manufacture of construction materials, including doors and windows, ironmongery, sanitary fittings, concrete products, tiles, glass, electrical fittings/fixtures and bricks, etc. For example, it is estimated that the programme will require up to 1.7 million doors, seven million door hinges and locks among others.

“The programme will house up to 900,000 children and adults (at an average of three persons/home) on low income with direct impact on health, education and economic outcomes.

“ Most of these would currently live in informal settlements with shared facilities in unsanitary environments.”

The initiative is to be implemented in collaboration with Family Homes Fund (FHF) Limited as the lead developer.

It said a construction finance facility to enable FHFL implement the Federal Government’s Social Housing programme as part of the Economic Sustainability Plan 2020.

“CBN shall appoint a technical advisor to, among others, appraise the requests for funding by FHFL, recommend for the release of funds and monitor the delivery of the programme and utilization of funds including quality of the portfolio,” it added.

https://thenationonlineng.net/cbn-okays-n200b-housing-loan-for-low-income-earners/

4 Likes 4 Shares

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by EmptyGarden(m): 7:36am On Sep 16
SCAM.

65 Likes

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by Abouwaza(m): 7:38am On Sep 16
Another gbedu wey dey burst brain
APC just dey spray the money billi billi
Scam Scammer Scammest

60 Likes 4 Shares

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by EastGold(m): 7:38am On Sep 16
EmptyGarden:
SCAM.
Another coding

8 Likes

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by Temptee101(m): 7:42am On Sep 16
shocked

This country na wa.

Everywhere you turn na loan.

7 Likes 1 Share

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by tillaman(m): 7:42am On Sep 16
When time reach to account for the money na that time one office go catch fire and later e go be office wen dem keep the account

61 Likes 2 Shares

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by guywitzerogal(m): 7:43am On Sep 16
Na some set of idiots go chop that money

4 Likes

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by 2020Experience(m): 7:43am On Sep 16
Abouwaza:
Another gbedu wey dey burst brain
Now this is funny grin

9 Likes

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by stanleyravos: 7:43am On Sep 16
Scam Alert

9 Likes

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by oaugraduate1234: 7:44am On Sep 16
But they don't need to do this, when NHF is existing

7 Likes

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by Samsimple(m): 7:44am On Sep 16
All I see now in nigeria is Loan loan loan. May God help us

Check my signature

1 Like

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by MrNipplesLover(m): 7:45am On Sep 16
dem don take looting swear for these people.

a thief is a professional strategy designer.
his brain always works for new ways to rob/steal/thief.

las las, na the brain dey kill thief at the end of his journey.



scammers. angry

9 Likes

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by dvkot(m): 7:45am On Sep 16
Na dem dem go still chop the money

7 Likes

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by mokt(m): 7:45am On Sep 16
Another format. 'Benefits' Government

11 Likes

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by Seniorwriter(m): 7:45am On Sep 16
The way FG allocates in billions of currencies makes me to wonder if our population is in billions!!!!!

Afterall this you will hardly see anyone to testify been a beneficiary!!!!!



We need implementation policies and not allocation policies!!!!

16 Likes 1 Share

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by Blackmann001: 7:46am On Sep 16
Who are low income earners...?

Fg and state workers...?

6 Likes

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by PHIPEX(m): 7:47am On Sep 16
Good initiative as long as the "Nigerian factor" will not make a mess of it. Either the disbursing institution will steal the fund or the borrowers will refuse to pay back. Eg tradamoni

3 Likes

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by Jaysleeves(m): 7:47am On Sep 16
The one's Lagos state government built na still dem dem allocate am to themselves. See am not trying to be biased or rigid, but if you don't know any one in government or atleast an influential politician or person. My dear forget it, go hustle on your own and pray.

10 Likes

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by deolurexy1(m): 7:47am On Sep 16
No body gets the cash
Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by gambia(m): 7:48am On Sep 16
Another cash out mode has been activated, if you know, you know.

8 Likes

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by omoolorire: 7:48am On Sep 16
My own share nko Oga @ the top

1 Like

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by Dididrumz(m): 7:51am On Sep 16
Another scheme to embezzle

8 Likes

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by JustZoe(m): 7:51am On Sep 16
Whoever gets the information on how to apply should please post it.
Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by Champneys: 7:53am On Sep 16
Godwin Emefiele and CBN should keep deceiving themselves and printing money to prop up the economy.

It will not end well.

6 Likes

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by CzarChris(m): 7:53am On Sep 16
Naija!!!

I so loved this country, but day by day I keep seeing and reading things that's actually making me regret my decision to keep rooting for this country. What is this one now? Common National Housing Fund(NHF) that's supposed to cater for Federal and State Civil Servants is a no go. Because you must first have a registered land complete with CofO before you can access the fund, even if you have those documents, accessing the fund the hurdles you will go through is a nightmare. Now if you see the schedule for repayment you'll burst into tears because you'll be a slave without pay for 20-25years before you can complete payment on the mortgage. This one now, what magic will they perform? Abi na mud house dey wan build for people to access?
Hmmmmmmmmm!!!
Abeg who get Visa even if na Somalia I wan commot.

4 Likes

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by UDOKABESTLUV(m): 7:55am On Sep 16
I didn't believe in what CBN Just said, I Strongly Believe In The Blogging Business That I'm Currently Doing Now, Incase, if you are interested, Get In touch with me.

2 Likes 1 Share

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by Newphil: 7:55am On Sep 16
Normal
Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by loadman: 7:56am On Sep 16
Guy wating you talk na true,i no thought you,see people the write na very good move buhari and emefule want scam Nigeria.bihari,cabinat are all yahoo first class

1 Like

Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by deandavid(m): 7:57am On Sep 16
Blackmann001:
Who are low income earners...?

Fg and state workers...?
State ke?
What about private School teachers?
Those ones no be human beings....
Abegi
Re: CBN Okays ₦200 Billion Housing Loan For Low Income Earners by Blackmann001: 7:58am On Sep 16
deandavid:

State ke?
What about private School teachers?
Those ones no be human beings....
Abegi

Those are the people that will later get all the money....

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