Federal Mortgage Bank of Nigeria Achieves Historic NHF Milestone in 2025
The Federal Mortgage Bank of Nigeria (FMBN) has announced a historic achievement in its National Housing Fund (NHF) collections for the year 2025. The bank recorded a total of N152.4 billion, marking a significant 48% increase from the N103 billion generated in 2024. This performance was disclosed by the Managing Director and Chief Executive Officer, Shehu Osidi, during a press briefing in Abuja to mark his second year in office.
Osidi attributed the bank’s progress to a strategic repositioning around four key pillars: financial sustainability, customer impact, operational efficiency, and institutional renewal. He expressed gratitude for the confidence placed in his leadership, stating that the results demonstrate a commitment to not betraying that trust. The bank’s focus on operational efficiency is reflected in improved turnaround times, as seen in the increase of NHF refunds from N13.2 billion to 40,426 beneficiaries in 2023 to N14.4 billion to 44,333 beneficiaries in 2024.
Beyond NHF collections, FMBN reported robust growth in loan approvals, which climbed to N71.5 billion in 2024 from N39.7 billion in 2023. The bank also expanded access through innovative products like Rent-to-Own and Home Renovation Loans, disbursing N7.1 billion and N13.8 billion respectively. Furthermore, FMBN provided a N100 billion off-taker guarantee for projects under the national Renewed Hope Housing Programme. While commenting on institutional stability, Osidi stressed the need for recapitalization to fully deliver on the bank’s mandate, noting that current single obligor limits constrain lending capacity.
The bank also strengthened its financial position by recovering N18.9 billion in delinquent loans through dedicated task forces. In a significant development for the NHF scheme, Osidi revealed that Oyo State has approved the reintegration of its workers after 27 years, while Kano State is close to full reintegration following its exit in 2002. As Nigeria’s ambassadorial nominations and other national events shape policy directions, and amidst reports of societal issues like the Maga abductions in Kebbi, a 78-year-old man killed, or a tenant stabs landlord incident, the FMBN’s focus remains on expanding affordable homeownership and institutional stability nationwide.
