The Central Bank of Nigeria (CBN) has said it will be appointing a Technical Advisor to, among others, appraise the requests for funding by Family Home Funds (FHF).
The fund will be for the deployment of 300,000 homes in the 36 states of the federation and the Federal Capital Territory. The apex bank says it will also recommend for the release of funds, monitor the delivery of the programme and utilization of funds including quality of the portfolio.
The apex bank said funds would be released to FHF on project basis subject to the cumulative maximum limit of N200 billion. The CBN said the programme is designed to utilize at least 90 per cent locally manufactured inputs and as a result conserve foreign exchange.
READ ALSO: ALAT By Wema upgrades Mobile Banking App
“In that regard the programme will deliberately aim to revitalize local manufacture of construction materials including doors and windows, ironmongery, sanitary fittings, concrete products, tiles, glass, electrical fittings/fixtures and bricks etc. For example, it is estimated that the programme will require up to 1.7 million doors, seven million door hinges and locks among others”.
“The programme will house up to 900,000 children and adults (at an average of three persons/home) on low income with direct impact on health, education and economic outcomes. Most of these would currently live in informal settlements with shared facilities in unsanitary environments. Towards targeting people on low income level across the country,” it said.
 has said it will be appointing a Technical Advisor to, among others, appraise the requests for){kind=link}