NHS has collected N77.21bn ' Minister

From the inception of the National Housing Fund in 1992 to October 31 this year, a cumulative amount of N77.21bn has been collected by the Federal Mortgage Bank of Nigeria, the Minister of Lands, Housing and Urban Development, Ms Amal Pepple, has said.Pepple, who gave the figure at the 2011 ministerial press briefing in Abuja, said the amount was contributed by state governments and private sector organisations in the NHF scheme.The NHF is a Federal Government introduced scheme, through which all public servants and employees in the organised private sector are expected to contribute 2.5 per cent of their monthly salary to the FMBN.Employees of various corporations, who are active contributors to the scheme, can access the fund through Primary Mortgage Institutions. A maximum of N5m at the rate of six per cent interest repayable over a period of 30 years is obtainable under this scheme.Pepple said, The NHF cumulative collections as at October 31, 2011 is N77.209bn, being the amount collected from contributors from inception of the NHF scheme in 1992.The minister said the participation in the scheme had increased from just three states to about 25 states, in addition to the Federal Capital Territory.The states are Adamawa, Akwa Ibom, Bauchi, Gombe, Jigawa, Kebbi, Kaduna, Kogi, Katsina, Kwara, Nassarawa, Niger and Plateau.Others are Anambra, Yobe, Bayelsa, Cross Rivers, Delta, Ebonyi, Imo, Rivers, Ogun, Osun, Zamfara, Abia and the FCT.Eleven states have yet to join the scheme.
Click here to read full news..