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CBN okays N200b housing loan for low income earners

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The Central Bank of Nigeria (CBN) has announced an N200 billion mortgage finance loan to Family Homes Fund (FHF).

The fund is for the building of 300,000 homes in the 36 states of the federation and the Federal Capital Territory.  It is also expected to help create up to 1.5 million jobs in five years.

The CBN framework for the implementation of the Family Homes Financing Scheme released yesterday indicates that the fund would be released to FMF on a project basis, subject to the cumulative maximum limit of N200 billion.

According to the framework,  the three-year term loan will enable FHF to finance the construction of social housing units for people on a low income at an interest rate not more than five per cent per annum (all-inclusive).

The apex bank said it introduced the financing initiative to support the Federal Government’s Economic Sustainability Programme.

The bank added that the programme was designed to utilise, at least, 90 per cent locally manufactured inputs so as to conserve foreign exchange.

The CBN said:  “In that regard, the programme will deliberately aim to revitalise local manufacture of construction materials, including doors and windows, ironmongery, sanitary fittings, concrete products, tiles, glass, electrical fittings/fixtures and bricks, etc. For example, it is estimated that the programme will require up to 1.7 million doors, seven million door hinges and locks among others.

“The programme will house up to 900,000 children and adults (at an average of three persons/home) on a low income with a direct impact on health, education and economic outcomes.

“ Most of these would currently live in informal settlements with shared facilities in unsanitary environments.”

The initiative is to be implemented in collaboration with the Family Homes Fund (FHF) Limited as the lead developer.

It said a construction finance facility to enable FHFL to implement the Federal Government’s Social Housing programme as part of the Economic Sustainability Plan 2020.

“CBN shall appoint a technical advisor to, among others, appraise the requests for funding by FHFL, recommend for the release of funds and monitor the delivery of the programme and utilization of funds including quality of the portfolio,” it added

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NIGERIA

Flood displaces scores in Kano, Nasarawa, Kwara

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Heavy downpour which lasted for days has left many displaced in Kano, Kwara, and Nasarawa states forcing governors Abdulahi Ganduja, AbdulRahman AbdulRazaq, Abdullahi Sule to seek for a speedy supply of relief materials to victims from the Federal Government.

In Nasarawa,  Governor Abdullahi Sule, yesterday, raised the alarm that scores of people, including aged men, women, and children, were displaced and rendered homeless following a flood that ravaged Nasarawa town in Nasarawa Local Government Area.

Sule, who appealed to the Federal Government to quickly intervene in tackling flood and other ecological problems facing the state, said it was the second time flood would wreak havoc in Nasarawa in less than two weeks.

He said houses were submerged, just as animals were killed, with some persons reportedly missing.

The governor stated this, yesterday when he visited the affected LGA where he ordered the evacuation of the displaced persons.

He directed the state emergency management agency to provide relief materials such as food items and mattresses without delay to the victims.

In a statement signed by his Chief Press Secretary, Ibrahim Addra, the governor “urged the people of the state to desist from building on waterways and stop indiscriminate dumping of refuse in drainages.”

In the same vein, the Executive Secretary, Kano State Emergency Relief Agency (SEMA), Dr. Saleh Jilli, in an interview with Daily Sun, lamented that this year’s flood was far more devastating than it had ever been in the state. He said an assessment showed that there was no local government council in the state that was spared by the flood, adding that in some cases, over 100 houses were destroyed by the flood in a single local government council.

While imploring the National Emergency Relief Agency(NEMA), Ministry of Humanitarian Affairs, Presidential Task Force on Relief and Rehabilitation and National Refugees Commission to deliver and assist victims, Jilli underlined the fact that most  of the victims had been displaced and were in urgent need of support

He equally appealed to well -to –do individuals in the state to assist the displaced, saying government alone  could not shoulder all the responsibilities of ameliorating the suffering of the flood victims.

Similarly, on Saturday night, torrential rains that lasted several hours  wreaked havoc in Ilorin, Kwara state capital.  One life was said to have been lost during the heavy rains, it was gathered.

Two persons whose corpses were  yet to be recovered were equally swept away at Taiwo Isale and Oko-Erin bridges in the metropolis, a source at the state Fire Service said.

The heavy downpour also destroyed several houses and property.

The rains started around 7pm and stopped in the wee hours of Sunday.

Kwara State Governor, AbdulRahman AbdulRazaq commiserated with families whose houses  were affected.

The state government urged  the Federal Government to urgently consider Kwara for special support even as it is setting up a special disaster response team to collate data of areas affected and determine how the state government can offer support based on available resources.

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NIGERIA

Nigeria records 97 new cases of COVID-19, total now 57,242

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Nigeria now has 57,145 confirmed COVID-19 cases, with 97 new cases recorded on Sunday night.

According to a tweet from the Nigeria Center for Disease Control, NCDC, 48,569 patients have now been discharged, with 1,098 deaths recorded.

The tweet revealed that Lagos State had the highest number of infections on Sunday night with 46 cases, with Kwara State following with 12 cases.

Other states read as follow:

Rivers-11 Adamawa-4 Niger-4 Ogun-4 Osun-4 Ekiti-3 Imo-3 Kaduna-3 Plateau-2 FCT-1

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NIGERIA

FCTA captures 300,000 households for social plan

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THE Federal Capital Territory Administration (FCTA) has commenced the second phase of registration of vulnerable persons in Abuja for its Social Investment Programme.

FCT Minister of State, Dr Ramatu Aliyu stated this at a 3-day training for community-based targeting team at the legislative chamber, Abuja Municipal Area Council (AMAC), Abuja.

Aliyu revealed that the second phase, which targets communities in AMAC, Bwari and Gwagwalada Area Councils, was coming after completion of the first phase which captured poor and vulnerable persons in Abaji, Kuje and Kwali Area councils.

Represented by her Special Assistant and FCT Focal Person on Social Safety Net Programmes, Chiwendu Eteyen Amba, Aliyu said that over 88,000 poor households were registered in more than 400 communities in the first phase of the programme.

”It is on record that as at August 2020, a total number of 88,464 poor and vulnerable households and 309,509 individuals from 408 communities across the three Area Councils were identified and registered into the National Social Register (NSR)”.

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