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CBN Okays ₦200 Billion Housing Loan For Low Income Earners

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THE Central Bank of Nigeria (CBN) has announced 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 project basis, subject to the cumulative maximum limit of N200 billion.

According to the framework, the three-year term loan will enable FHF finance the construction of social housing units for people on 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 low income with 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 Family Homes Fund (FHF) Limited as the lead developer.

It said a construction finance facility to enable FHFL 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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Bandits kill Army colonel, two soldiers in Katsina

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A Nigerian Army colonel, M.Z Manu and two soldiers have been killed by bandits in Unguwar Doka Village under Faskari Local Government Area of Katsina State.

It was gathered that the bandits, armed with AK-47 rifles invaded the villages on Thursday night and started shooting indiscriminately. In the process, the gallant officer, soldiers and some civilians were killed.

The acting Director, Defence Media Operations, Brig. General Benard Onyeuko, who confirmed the incident in a statement issued to journalists at the Special Army Super Camp IV Faskari, said troops of Operation Sahel Sanity responded to a distress call on September 24, 2020 that bandits attacked Unguwar Doka Village and swiftly mobilised to the area where they cleared the bandits.

During the encounter, troops neutralised 21 bandits while others escaped with gunshot into the forest as evident by the trails of blood along the criminals’ escape route.

 

The statement disclosed that the soldiers rescued three kidnapped victims, including an eight-month-old baby who had been in captivity for more than 23 days and recovered one AK-47 and three motorcycles from the fleeing hoodlums.

 

“Regrettably, resulting from the encounter with the bandits, one gallant officer and two soldiers paid the supreme sacrifice while two other soldiers were wounded in action and are currently receiving medical treatment in a military medical facility and responding positively,” said Onyeuko.

“The fearless troops have continued to pursue the bandits into the forest and dominating the general areas with aggressive fighting patrols to deny them any respite.” he added.

 

Meanwhile, the burial activities of Colonel Manu will hold today at army HQ, Zaria, Kaduna state.

 

Bandits kill Army colonel, two soldiers in Katsina

 

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Kanu Signs Up For Simba TVS

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Nigerian soccer legend, Kanu Nwankwo, was yesterday, unveiled as an ambassador for Simba TVS, distributors of Nigeria’s leading brands in the tricycle, motorcycle and power bike Sector.

 

Kanu said “I have the singular honour and privilege of endorsing and recommending their products. They are number one in their areas of business. Their quality and after sales service policy is demonstrated in their Workshops pan Nigeria”.  Simba TVS places strong emphasis on empowerment, and runs specific programs targeted at women, youths, welfare for the mechanics and rider communities.

 

Mr Mahendra Pratap,  Simba TVS – Business Head in Nigeria,  said “we are honored and humbled that, Kanu Nwankwo, is endorsing TVS King Tricycles and motorcycles, emphasizing that the two-time African player of the year embodied  their brand’s core values of Trust, Value and Service  “through his dedication to this great nation.

 

Kanu?Signs Up For?Simba?TVS

 

Group Head- Marketing -Simba Group, Mr KarthikGovindarajan, Simba’s association with Kanu Nwankwore presents one more step in the Group’s ongoing efforts at deepening their relationship with Nigerian football.

“As the official motorcycle and tricycle of the Super Eagles, Kanu’s endorsement is an inspiration in Simba TVS’s commitment to customer service and empowerment.

 

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Judicial workers to begin strike Monday

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Staff of the Federal High Court across the country have announced plans of engaging in a two-week strike from Monday September 28, 2020.

 

The judicial workers under the aegies of Judiciary Staff Union of Nigeria (JUSUN) revealed that they are engaging in the strike in line with the industrial action planned by the Nigerian Labour Congress (NLC) over the increased prices of electricity and petroleum products.

 

The notice read;

 

“Please be informed that the Judiciary Staff Union of Nigeria (JUSUN), Federal High Court chapter shall, in collaboration with the Nigerian Labour Congress (NLC), commences a two-week indefinite strike action from Monday the 28th day of September 2020.

“All offices shall remain closed within this period. You are required to comply.”

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