Stanley Oparaocha, the Head of Enterprise Risk Management and Product Development at the Federal Housing Authority (FHA) Mortgage Bank Limited, has advised Nigerians to use the National Housing Fund (NHF) to become homeowners.
He stated that Nigerians can access the fund, which has reached N21 trillion.
The mortgage banker noted that participating in the housing scheme would help to reduce the country’s housing deficit, which he estimated was around 28 million.
Oparaocha spoke at a seminar hosted by Ensica Real Homes over the weekend in Abuja titled Acquiring Your Home Through the National Housing Fund (NHF) and A Well-Structured Payment.
Geoffrey Obi, the Business Development Manager at FHA Mortgage Bank, said Nigerians aged 18 and up could access the fund.
According to him, civil servants can obtain a loan of up to N50 million spread over a 30-year repayment period with a 6% interest rate.
Obi stated, “Once you start contributing to the National Housing Fund, you can access it. Nigerians aged 18 and up can withdraw up to N50 million from the fund. They are expected to contribute 2.5% of their income to the NHF.
“The fund is available to people who have contributed to the NHF for a minimum of six months upward. The fund appeals to younger people. It is intended to provide a roof over your head while you are still young and employed.”
Ethel Idahosa, Managing Director and CEO of Ensica Real Homes, explained that the company builds affordable homes for Nigerians based on their financial situation.
She stated that the company was building over 700 homes for civil servants in the Federal Capital Territory (FCT).
“We make it easy for our clients to buy our homes by guiding them through all available channels, including mortgage banks, and providing them with a well-structured, flexible payment plan that allows them to move into their dream homes as quickly as possible.
“We have extensive experience with real estate developments throughout Nigeria. We have strategic alliances with key industry leaders such as the Federal Mortgage Bank of Nigeria, FHA Mortgage Bank, and Nigeria’s commercial banks. Throughout the years, we have demonstrated capacity and consistency in meeting our customers’ expectations.
Ensica Real Homes has been operating for over 14 years. We began our operations in Port Harcourt, Rivers State, by constructing homes for Nigerians and providing infrastructure for government and non-governmental organizations.
