HOME OWNERSHIP: CBN introduces construction facility

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HOME OWNERSHIP: CBN introduces construction facility
CBN

By Elizabeth Adegbesan

THE Central Bank of Nigeria, CBN, has introduced a construction finance facility to enable Family Homes Fund Limited to implement the federal government’s Social Housing Programme as part of its Economic Sustainability Plan 2020. The Programme aims at speeding up the deployment of 300,000 homes in the 36 states of the federation.

In its Framework for the Implementation Of Family Homes Financing Initiative, the apex bank stated: “Mass housing construction is among the key economic activities with potential to create a significant number of jobs rapidly.

“It is in the light of this that the Bank introduces this financing initiative to support the Federal Government’s Economic Sustainability programme to fast track the deployment of 300,000 homes in the 36 states of the federation and the Federal Capital Territory and to create up to up to 1.5 million jobs in 5 years.

“This initiative is to be implemented in collaboration with Family Homes Fund…



Source: Vanguard Newspaper