FMBN disburses N580m renovation loan in Yobe

The Federal Mortgage Bank of Nigeria (FMBN) has disbursed over N580 million as a home renovation loan to 744 civil servants in Yobe State.

The Head of Operation of the bank in Damaturu, Abduwa Maimalari, stated this in a chat with newsmen in the Yobe State capital.

He said the bank has distributed at least 2000 home renovation application forms to civil servants in the state after the Yobe State government and FMBN signed a memorandum of understanding (MOU) in 2021.

‘‘Since from the time when the Federal Mortgage Bank and office of the State Head of Service signed the MoU, we distributed about 2000 home renovation application forms to the individual persons.

‘‘From the record available to us now, the mortgage bank has approved and disbursed about 744 applications.

‘‘Already 744 civil servants have benefited from the home renovation loan which is about N580 million and 160 civil servants are expected to receive their loan within the week,’’ he said.

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