Abuja: The Federal Mortgage Bank of Nigeria (FMBN) has announced the launch of a groundbreaking housing initiative that will see the entire delivery process managed exclusively by women. This was revealed by the Managing Director and Chief Executive Officer of FMBN, Mr. Shehu Osidi, during FMBN Day at the ongoing Africa International Housing Show in Abuja.
According to News Agency of Nigeria, the Women Housing Initiative is set to be executed in collaboration with the Federal Ministry of Women Affairs. The initiative aims to promote gender inclusivity within Nigeria’s housing sector. Osidi emphasized that the scheme is designed to ensure that all roles involved in the housing projects, from design architects to engineers, artisans, and laborers, will be filled by women.
Osidi stated that women constitute a significant portion of Nigeria’s population and have substantial contributions to offer towards national development. He explained that the Women in Housing Initiative seeks to create a housing development model where all participants are women, thereby fostering an inclusive environment.
In addition, Osidi revealed a positive development regarding the bank’s challenge with the Single Obligor Limit requirement set by the Central Bank of Nigeria. He mentioned that the bank’s management plans to concentrate on completing ongoing and outstanding housing projects, maintaining prudent financial management, and enhancing customer service experience.
Furthermore, Osidi noted that the bank is committed to reducing non-performing loans and is working towards amending its enabling laws and pursuing recapitalization efforts.