Business
National Housing Scheme: Enugu State Pays N83m To FMBN
The Enugu State Government has paid over N83 million to the Federal Mortgage Bank of Nigeria (FMBN), to reactivate the participation of her workers in the National Housing Scheme.
The State Governor, Mr. Sullivan Chime, who made this known recently on the occasion of the re-launch of the state into the National Housing Fund scheme held at Okpara Square, Enugu.
Chime, who was represented by his deputy, Mr. Sunday Onyebuchi, explained that the re-launch of the state into the scheme became very necessary since government alone cannot solve the housing needs of its workers , especially with the growing population of the workforce and high cost of building materials in the country.
The Governor, however , noted with dismay that the scheme became moribund after it was launched in 2007 due to some irregularities in the handling of money deducted from workers for the fund and said that adequate measures have been put in place to check a recurrence.
According to him, the re-launch was part of the recommendations made by a committee set up by government in 2008 to reconcile all deductions made by its ministries, departments and agencies (MDAs) to the fund.
He assured that everything possible would be made to ensure the success of the scheme, adding that the State Head of Service had been directed to monitor desk officers of the National Housing Scheme in the State to ensure that monies deducted are remitted to the bank promptly.
Also, those participating in the scheme must ensure that money deducted are properly credited in the Ministry of Finance and reflected in their own passbooks.
Speaking, the Head of Service, Mr. Chris Ugwu outlined the advantages of the scheme over the commercial housing loans.
According to him, eligibility required for the scheme is by merely contributing to the fund for six months which qualifies one to apply for loan, and listed the advantages of the scheme as the long period of prepayment up to 30 years, and relative lower interest rate than the prevailing market rate.
Others, he went on, includes easy accessibility to both low and medium income earners, loan repayment on monthly basis, which makes it very convenient, among others.
Ugwu stated that with the re-launch of the scheme, the FMBN would provide the necessary funds for the Enugu State Housing Development Corporation to build houses on owner-occupier basis for participating workers in the state.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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