Platinum Savings and Loans Limited has announced its plans to finance the construction of 10,000 residential houses in the next 5 years in various parts of Nigeria. Engineer Emmanuel Mbaka, managing director and chief executive officer of the mortgage bank, disclosed this during the inauguration of the bank’s head office building in Abuja.

This number of houses will be in addition to 5,000 houses the mortgage firm has already financed with financial assistance from Federal Mortgage Bank of Nigeria (FMBN). Mbaka said the houses will be sold to eligible Nigerians under the National Housing Fund (NHF) scheme administered by the FMBN.

“We want to assure you that this success story is only just beginning. We have as our goal for the next five years to provide another 10,000 housing units for the generality of Nigerians across the federation, accessible through the National Housing Fund Scheme of the Federal Mortgage Bank of Nigeria. We will continue to strive harder in the pursuit of our mission to ensure that our dream of a better housed Nigeria comes to fruition”.

Mbaka added that with the continued support from their associates and supervisory bodies, and the co-operation from other players in the industry, his staff and management would continue to put in their best towards achieving this objective.

He lauded the efforts of the FMBN towards ensuring that the Federal Government’s desire to make housing accessible to all is realized. We would like to commend the Board and Management of the Federal Mortgage Bank of Nigeria for their unrelenting efforts towards ensuring that the housing for all vision is kept alive.

We would also want to specially commend the Managing Director of the Federal Mortgage Bank of Nigeria, Alhaji Gimba Ya’u Kumo for his consistent efforts at developing the mortgage industry and the apt repositioning of the bank to enable it drive the much needed growth in the industry.

“Our dream is to see a better housed Nigeria. One in which the average citizen will have unfettered access to owning his own home without facing seemingly unending hurdles and bureaucratic bottlenecks. We are committed to this dream and we will do everything we can to make sure it materialises”, Mbaka said.

The Managing Director noted that his company has been able to pull through the harsh terrain of primary mortgage banking in Nigeria and “deal with the challenges associated with the growth of institutions of our kind in a business environment as uncertain and unstable as we have in this part of the world.”