Date: 2020-11-30

The Federal Mortgage Bank of Nigeria has refunded over N3bn to the contributors of the National Housing Fund in the country.

The Executive Director, Business Development and Planning of the Federal Mortgage Bank, Alhaji Dankani Abdullahi, disclosed this at a one-day sensitisation on National Housing Fund organised for the Nigeria Union of Local Goverment Employees in Ilorin on Thursday.

Abdullahi said that the process of refund to contributors of the National Housing Fund was now faster than before stated that since the new board was inaugurated about three and half years ago, it had made more refund to workers that made contributions to the fund.

The Executive Director said that workers should not exercise fear on the safety of their fund, assuring them that "the fund deducted from your salary for the National Housing is very intact and since the new management board took over in 2016, we have made the refund more faster.

"I want to tell you that between 1992 and 2016, about N8bn refund was made to the workers, but between 2016 and now, we have made a refund of N30bn to the contributors of the NHF," he said.

"We are ensuring that the little contributions made by the workers is guaranteed, so, any fund contributed to NHF is safe," he said.

Abdullahi explained that the National Housing Fund was conceived by the Federal government to ensure that every worker owned a house, adding that 2.5 percent deduction was made from the basic salary of every worker.