By Kingsley Omonobi, Abuja

Chief of Air Staff, Air Marshal Mohammed Dikko Umar has explained why the Nigeria Airforce Foundation was unbundled. According to him, the Foundation had become over burdened by the challenges placed on it which included the provision of accommodation for personnel, investing on behalf of the NAF and getting involved in the repairs and rehabilitation of equipment.

Speaking at the signing of an MoU with the Federal Mortgage Bank of Nigeria, FMBN in Abuja, Umar explained that “NAF Foundation which was charged with the responsibilities of providing housing accommodation for NAF personnel as well as for those who retired from service among others, could not meet up with these responsibilities hence the decision to unbundle the Foundation into NAF Holdings, NAF Post Housing Scheme and NAF Properties”.

He disclosed that the plan by the Airforce to enter into a working partnership with the NAF for the construction of ‘The Airforce City’, by the FMBN on a 120 hectares of land along the airport road, was necessitated by the fact that the Bank has a pedigree of performance in the housing sector dating back to 1956.

“We are aware that the policy thrust of the Federal mortgage bank is the provision of housing accommodation for all Nigerians by the year 2020 in line with federal government’s aspiration. We wish to be part of that project and we know that FMBN has the capacity and the wherewithal to achieve that goal”, the CAS said.

Responding, Managing Director of FMBN, Mr. Gimba Ya’u kumo noted that the partnership between the NAF and the Bank, was part of the FMBN’s ‘Housing Agenda’ as an effective tool to enhancing the welfare of the Nigerian military personnel.

Continuing Mr. Kumo said, “As a way forward in executing the mandate of the bank, we will today open another chapter in the relationship between the Nigeria Air Force and FMBN with the endorsement of a MOU for the development of 120 hectares of land situated off, the airport road to deliver houses to officers and men of the NAF”.

“We had earlier allocated 270 houses being constructed by SunTrust Real estate investment Ltd along airport road to officers and men of the NAF to be financed through the National Housing Fund”, he said.

“Under the terms of the MOU, FMBN will finance the construction of the housing units and facilitate mortgage loans through licensed Primary Mortgage Institution’s duly accredited by Federal mortgage bank” he said.

The Chairman of the bank, Alhaji Adedamola Atta commended the NAF for taking the bull by the horn and agreeing to enter into an MOU with FMBN. According to him, this showed the commitment of the Chief of Air staff to tackle and fulfill the yearnings of officers and men of the Airforce.