…100,000 families in 3 years
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.
Hayatudeen Auwal, the bank’s Managing Director, disclosed this on Tuesday 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.
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“We intend to establish at least 20 branches nationwide in the next three years, grow our active customer base to 100,000 families, and scale our loan portfolio to N100bn. With the support of our Chairman, the entire housing development financing window has been opened to support the FHA Mortgage Bank.
“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 N27bn 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.
The FHA Mortgage Bank boss further emphasised that housing finance remains central to achieving the government’s broader economic vision.
“Thanks to Mr President, who has challenged Nigerians to envision a $1 trillion economy, we believe the housing sector is well-positioned to contribute to that goal. With the effort and commitment of our Chairman, FHA Mortgage Bank will play its part in achieving it,”
As part of its growth agenda, the bank is also preparing to launch a Diaspora Mortgage Project to help Nigerians abroad own homes back home, while exploring partnerships with pension funds, insurers, and international development agencies.
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Auwal added that efforts are ongoing to secure a national banking licence.
“We are aiming to become a national bank. The Central Bank of Nigeria has already been informed and has given us a checklist of outstanding requirements. With our commitment, we are confident that before long, FHA Mortgage Bank will attain national bank status.”
