Staff members of the Niger Delta Development Commission have been encouraged to take advantage of the National Housing Fund scheme to become homeowners through affordable housing loans.
The Managing Director of the commission, Samuel Ogbuku, made the call during a sensitisation programme on the National Housing Fund held in Port Harcourt.
Represented by the Director of Administration and Human Resources, Kelechi Nwelue, Ogbuku said the initiative was designed by the government to help civil servants own personal houses through structured mortgage financing.
He explained that contributors to the scheme could access housing loans through the Federal Mortgage Bank of Nigeria based on monthly deductions from their salaries.
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Also speaking, the Port Harcourt Branch Manager of the mortgage bank, Melody Ukwa, outlined the loan categories available to contributors under the scheme.
According to him, workers contributing between N1,000 and N10,000 monthly to the National Housing Fund can access loans of up to N15 million at single-digit interest rates. Contributors within the N11,000 to N25,000 range are eligible for up to N25 million, while those contributing above N25,000 monthly can obtain as much as N50 million.
Ukwa added that beneficiaries could repay the loans over a period of up to 30 years or before retirement age, also at single-digit interest rates.
