Nigeria: Housing - Govt Grants 0% Equity for Loans Not Exceeding N5 Million to Civil Servants

17 July 2018

The Federal Mortgage Bank of Nigeria, FMBN, has been mandated to grant 0 per cent equity for loans not exceeding N5 million to federal civil servants.

Minister of Power, Works and Housing, Mr. Babatunde Fashola, disclosed this while speaking at the 7th National Council on Lands, Housing, and Urban Development, in Gombe, the Gombe State capital. He also announced a reduction of equity from 20 per cent to 10 per cent for loans up to N6 to N15 million.

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