By Yinka Kolawole

A new initiative by the Federal Mortgage Bank of Nigeria (FMBN) to collect National Housing Fund (NHF) contributions via e-collection platform of some 23 designated banks is expected to increase collections into the scheme by at least 300 percent.

Managing Director of FMBN, Gimba Ya’u  Kumo, stated this recently in Abuja, during the commissioning of the corporate headquarters of a mortgage bank.

He asserted that the new platform will revolutionise the NHF collection system, noting that the e-collection platform became necessary so as to ensure payment compliance by employers and allow for transparent transactions as well as build an interactive customer base.

Kumo remarked that FMBN has commenced a pilot scheme for the e-collection system with the ministries, departments and agencies (MDAs) in the Federal Capital Territory.

He added that the system will ensure that monies to be paid as contributions will now be deducted from source (employers’ payment account) by the designated banks nationwide.

Meanwhile, also at the event, the managing director of Platinum Savings and Loans Ltd, whose building was being commissioned, Mr. Emmanuel Mbaka, announced plans by the PMI build 10,000 low income houses to be spread across the country within the next five years.

He noted that the bank has already completed the provision of over 5,000 housing units in nine housing estates across the federation.

“We have concluded arrangements with our relevant partners to embark on 10,000 low income houses for the masses, which will be accessible through the National Housing Fund scheme of the FMBN and to be completed within a 5 year project time-line. Part of the reason why we have gone this far is because we are able to re-create the middle class where a graduate is able to own a house.

“We decided to have a corporate head office in Abuja to enable us cater for the huge projects we are handling, especially in the FCT. We currently support more than nine estates, including Trade More estate in Lugbe, Co-operative City Garden estate in Pyakasa, 500 housing estate Doma, Platinum Mega Mall Mabushi, Platinum Model Haven Katampe and Trade More estate in Apo, among others,” he stated.