Business
FMBN Partners Labour Unions On Housing
The Federal Mortgage
Bank of Nigeria (FMBN) is collaborating with the three major labour unions to ensure that their members benefit from the 3.5 million houses to be provided for workers nationwide.
Head, Corporate Affairs, FMBN, Mr Dauda Yusuf, said in Abuja that the bank is collaborating with the Nigeria Labour Congress, (NLG) Trade Union Congress (TUC) and Nigeria Employers’ Consultative Association (NECA).
Already, he said, some housing projects have been embarked upon by the FMBN.
These, he said include: the 400 housing units in Kofare, Yola; 170 in Lagos, 250 units in Illorin and 400 units in Akure.
He said another 201 housing units are being constructed in Benin and 216 in Ibadan.
Yusuf said the bank’s housing project in most state capitals are ongoing and would be allocated to interested Nigerians, when completed.
He called on members of the unions who are not contributors to the National Housing Funds (NHF), to do so for their own benefits.
According to him, the NHF mortgage loans are granted to workers on a fixed interest rate of six per cent.
Yusuf said beneficiaries of the housing loan had a repayment period of up to 30 years.
He however said the repayment years were determined by the number of years the beneficiary had to attain before retirement.
According to him beneficiaries can apply for as much as N15 million loan to build or buy a house.
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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