...Reaffirms Commitment to Quality and Affordable Homeownership 

Driven by the Federal Mortgage Bank of Nigeria’s (FMBN) commitment to expanding access to affordable housing for Nigerians, the Managing Director/Chief Executive of the Bank, Shehu Usman Osidi, on Thursday, June 18, 2026, led an inspection tour of Bungalow City and WaterLake Estate in Abuja to assess the progress, quality and delivery timeline of ongoing housing projects financed by the Bank.

The inspection provided an opportunity for the FMBN management team to engage with developers, review the level of work completed and ensure that the projects align with the Bank’s mandate of supporting the delivery of decent and affordable housing for Nigerians of low and middle income status.

Osidi was accompanied on the inspection tour by the Executive Director, Business Development and Portfolio Management, Mrs. Chinenye Chinedu Anosike, alongside other senior management staff of the Bank.

At Bungalow City, the team inspected the development comprising 400 units of three-bedroom semi-detached and terrace houses being delivered by Brains and Hammers. The Bungalow City project is being packaged under FMBN’s Rent-to-Own Scheme, a product designed to provide eligible Nigerians with a flexible pathway to homeownership by allowing them occupy their homes while gradually paying towards ownership.

The Team also inspected the WaterLake Estate, a 40-unit development of three-bedroom detached bungalows being developed by Linkon for the Nigeria Police Multipurpose Cooperative Society under FMBN's Cooperative Housing Development Product.

The activity underscores FMBN’s continuous efforts under Shehu Osidi's leadership, to strengthen housing delivery, deepen mortgage access and ensure that funded projects translate into quality homes for Nigerians.

From financing to construction and eventual ownership, FMBN continues to play a pivotal role in bridging the housing gap by working with credible developers and strategic partners to deliver sustainable housing solutions across the country.

 Group Head, Corporate Communications