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18 Finacorp Customers Get Housing Loan By Yemi Akinsuyi One of the leading primary mortgage institutions in Nigeria, Finacorp Building Society Limited, has secured national housing loan totaling N75,980,000.00 for 18 of her customers in two batches. This, according to a release by the Group Head, Corporate Resources and Communication, Henry Onukwuba, has added to the growing list of customers of the bank, who have been granted the loan by the Federal Mortgage Bank of Nigeria (FMBN), Abuja. He noted that the loan grants were contained in separate letters signed by the General Manager (Loans and Advances), I. A. Asogwa, on behalf of the Managing Director/Chief Exe-cutive of the bank. According to one of the letters dated June 15, he said, the security for the loans shall be perfected fund mortgages which is acceptable to the FMBN. Onukwuba hinted that FMBN has reduced the interest rate on the loan to six per cent per annum from nine per cent, while increasing the payback period to 30 years from the previous 25, thus making the loan the cheapest source of fund presently in the country. "The National Housing Loan is accessible to all contributors to the National Housing Fund managed by the FMBN. To qualify, you must be a Nigerian of 21 years and above and a contributor to the fund for at least the past six months. The loan can only be granted through primary mortgage institutions such as Finacorp," the statement added, explaining how to be part of the loan scheme. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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