Army, FMBN to Provide Housing Mortgage Loans for Soldiers

By Paul Michael, Defence Editor, Abuja

The Nigerian Army said it has partnered with the Federal Mortgage Bank of Nigeria (FMBN) to provide loans to officers for housing projects.

The partnership took place when the Group Managing Director (GMD), Nigerian Army Welfare Limited by Guarantee (NAWLG), Major General Adetokunbo Fayemiwo, paid a working visit to the Managing Director (MD) FMBN, Arch Umar Dangiwa.

The GMD, NAWLG stated that the establishment is the major handler of the Nigerian Army’s businesses. As such, needed to collaborate with FMBN to foster the affairs of the Force.

Fayemiwo also noted that there has been a long-standing relationship between the Army and the FMBN, which needs to be strengthened.

According to NAWLG boss, “there is the need to create awareness among personnel in the handling of mortgage loans as well as improve on the already existing synergy between members and the scheme.”

This, he said, will enable contributors to benefit from their inputs as well as build confidence between the scheme and the contributors, The Trumpet gathered.

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Maj Gen Fayemiwo decried the risk of economic variables which has become a determining factor in the achievement of successes in the housing industry.

While commending FMBN for its numerous achievements, he solicited greater support for the Nigerian Army to enhance the development of remarkable housing projects.

In his response, the MD FMBN, Arch DANGIWA thanked Maj Gen Fayemiwo for the visit and stated that FMBN and NAWLG will continue to remain partners in progress while promoting mutual understanding which will, in turn, promote more achievements.

Arc Dangiwa stated that the Army has been a regular contributor to the scheme as a result, the bank has also extended mortgage loans to officers and soldiers of the Nigerian Army.

He pledged the continuous support of FMBN to the Nigerian Army by way of providing mortgage facilities for housing projects for personnel of the Force.