The Federal Housing Authority (FHA) Mortgage Bank has announced a growth plan aimed at deepening access to housing finance in Nigeria, with targets to grow its loan portfolio to N100 billion and expand mortgage services to 100,000 families within the next three years.
Managing Director of the bank, Hayatudeen Auwal, disclosed this at the commissioning of its new head office in Abuja, noting that the expansion drive will include the establishment of 20 new branches nationwide.
He explained that the strategy is aimed at expanding access to mortgage financing while sustaining the bank’s record of financial discipline.
“The dream of bridging Nigeria’s housing finance gap and supporting the Federal Government’s housing delivery agenda is alive. Today, I’m proud to say we have not only sustained that dream but expanded it, turning vision into measurable progress. Our key achievement is being the number one collaborator with the Federal Mortgage Bank of Nigeria.”
According to Auwal, the bank has already achieved significant milestones, including facilitating over N27 billion in mortgages for 3,427 Nigerians across the federation and enabling more than 6,000 citizens to access mortgage loans through the PENCOM retirement savings window.
He stressed that the bank’s credibility rests on its consistency in meeting obligations, a factor that has earned it trust within the financial sector.
“From the National Housing Fund, despite accessing a huge loan portfolio, we have never defaulted. We have never defaulted in making repayments, and we have never defaulted in meeting our objectives,” he said.