Arch. Ahmed Musa Dangiwa, The Managing Director, Federal Mortgage Bank of Nigeria (FMBN), has warned the Mortgage Bankers’ Association of Nigeria
(MBAN) to stop delaying the disbursement of funds to developers.

Dangiwa, who gave the warning at a tripartite meeting between the Federal Mortgage Bank of Nigeria (FMBN), Mortgage Bankers’ Association of Nigeria (MBAN) and Real Estate Developers’
Association of Nigeria (REDAN) in Abuja recently, said disbursements should be made once such funds are received.

He further warned that it would not hesitate to sanctions aany mortgage banker that defaulters.

Dangiwa also urged members of MBAN to minimize the Turn Around Time (TAT) even as he charged REDAN to come up with affordable housing models and avoid unilateral changing of building designs, specifications and scope.
Non-availability of funds had been identified as some of the problems confronting the built environment in
the country.

Similarly, experts and stakeholders have called for improved funding for the industry to tackle the huge housing deficit in the country, which had been
estimated at 17 million.

Arch. Ahmed Musa also identified affordability as the major reason housing estates built by the bank in 10 states remained unoccupied. Dangiwa said the development was affecting genuine
housing programmes despite efforts to construct cheaper homes, many of them remained inaccessible.

click the link for detail: https://luxuriouslifestyle.com.ng/2018/03/27/fmbn-warns-mban-to-refrain-from-delaying-disbursement-to-developers/