FMBN Hands Over 129 Homes To NHF Beneficiaries, Promises 122 More By December

The Federal Mortgage Bank of Nigeria (FMBN) on Monday handed over keys to 129 housing units to beneficiaries of its Rent-to-Own scheme at the Nasarawa Technology Village, Karu, Nasarawa State, bringing relief to families whose homeownership plans had been disrupted by the reallocation of part of an earlier housing estate to security agencies.

The 129 completed units, funded by FMBN and developed by Modern Shelter Ltd, represent the first batch of 251 homes being provided for National Housing Fund (NHF) contributors who were profiled as beneficiaries of the Brains & Hammers Bungalow City project but could not take possession of their allocated houses.

Minister of Housing and Urban Development, Dr Muttaqha Rabe Darma, who formally presented the keys to the beneficiaries, assured the remaining 122 beneficiaries that their houses would be completed and delivered before the end of 2026.

Darma described the handover as the conversion of a difficult chapter into a new beginning for 129 Nigerian families, saying the development demonstrated what could be achieved when government institutions, developers and other stakeholders worked together to resolve challenges in the housing sector.

He said the affected beneficiaries had been profiled under the FMBN Rent-to-Own programme but were unable to take possession of their homes after part of the Bungalow City estate was allocated to security agencies.

“Today, this will now be history,” the minister said, assuring the remaining beneficiaries that they would receive their keys before the end of the year.

He further pledged that the federal government would intensify housing delivery through the Federal Housing Authority (FHA), FMBN and projects being directly undertaken by the Ministry, reiterating the administration’s commitment to delivering 100,000 housing units.

Earlier, FMBN Managing Director/Chief Executive, Shehu Usman Osidi, said the handover was a demonstration of the bank’s commitment to its customers and a “promise kept” after years of efforts to resolve the challenges surrounding the Bungalow City project.

Osidi explained that FMBN had in 2019 funded the Bungalow City project developed by Brains & Hammers to provide homes for NHF contributors, but the subsequent allocation of part of the estate to security agencies left some profiled beneficiaries without houses.

He said the bank subsequently worked with the Federal Ministry of Housing and Urban Development, the National Assembly, the developers and other stakeholders to reconcile and verify the affected beneficiaries, assess alternative sites and identify a practical solution that would protect their interests.

According to him, 400 out of the 651 profiled off-takers were eventually accommodated at Bungalow City, while efforts were intensified to resolve the housing needs of the remaining beneficiaries.

Osidi said the delivery of the 129 units at Nasarawa Technology Village was therefore not merely a housing handover but evidence that the bank was prepared to take responsibility for challenges confronting its beneficiaries and find lasting solutions.

“The National Housing Fund scheme is not just a financial pool. It represents the contributions, aspirations and hopes of millions of Nigerian workers and citizens who trust the government and the bank to translate their contributions into the opportunity to own decent and affordable homes,” he said.

The FMBN boss said the remaining 122 units would be completed and ready for allocation before the end of 2026, adding that another 190 FMBN-funded housing units were also expected to be commissioned at the location in December.

He said the development would make the Nasarawa Technology Village an important part of the Federal Government’s Renewed Hope Housing Agenda, stressing that the bank was repositioning its operations around the principle that the NHF contributor must remain at the centre of its activities.

For the beneficiaries, the handover ended a prolonged wait for homes they had expected to occupy under the Rent-to-Own arrangement, with Osidi assuring them that their patience and confidence in the process had not been misplaced.

He said FMBN would continue to strengthen partnerships with credible developers and institutions capable of delivering quality and affordable housing at scale, while ensuring that NHF contributions were deployed responsibly, transparently and effectively.

The FMBN chief executive commended the Minister of Housing and Urban Development, Dr Muttaqha Rabe Darma, the chairman of the House of Representatives Committee on Housing and Habitat, Abdulmumin Jibrin, as well as Brains & Hammers and Modern Shelter Ltd for their roles in resolving the housing crisis.

Darma, in his remarks, said the federal government’s Renewed Hope Agenda places housing at the heart of efforts to improve the welfare of Nigerians, stressing that the housing programme was not merely about constructing structures but also about people and restoring confidence in public institutions.

He congratulated the beneficiaries and thanked them for their patience and endurance throughout the process, promising that the government would continue to deliver more homes to Nigerians before the end of the year.