Anambra Govt Announces Availability of FMBN Home Renovation Loan Forms for Civil Servants
The Anambra State Government through the Office of the Head of Service has notified Civil Servants in the state, that application forms for the Federal Mortgage Bank of Nigeria, FMBN, Home Renovation Loan are now available for collection.
This is contained in a circular signed and released earlier today by the Head of Service, Ngozi Anuli Iwouno Esq, mni in her office at the Jerome Udorji Secretariat Complex, Awka.
According to the release, the facility Loan is strictly for National Housing Fund, NHF, contributors who wish to renovate or improve their existing residential houses.
“The loan is provided in line with the National Housing Fund Act CAP N45, Laws of the Federation of Nigeria, 2004,” the circular stated.
The circular further outlined conditions for the loan to include: Maximum amount of the loan would be determined by the applicant’s income level and actual cost of renovation; maximum of five years or the employee’s remaining years of service, whichever is less; monthly repayment shall not exceed 33⅓% of the applicant’s monthly income, with repayment beginning one month after disbursement, and the interest rate is fixed at 6% per annum for the entire loan duration”.
The circular stressed that the facility is strictly for civil servants who have been contributing 2.5% of their monthly salary to the NHF can access the loan.
The FMBN Home Renovation Loan is a federal facility designed to help NHF contributors upgrade existing homes rather than build new ones. The Anambra circular signals the state’s role in facilitating access for its workforce.
Interested and eligible staff are encouraged to obtain the application forms from IRS/RAPID Department, Office of the Head of Service, Awka.
All Permanent Secretaries and Heads of Departments were directed to ensure wide dissemination of the circular to the staff under them.
© MaryAnn Chukwuma, Ministry of Information, Anambra State
