Regulatory Alerts2020-09-14 | DFD/DIR/GEN/ODB/09/095Framework For Family Homes Financing Initiative
The Central Bank of Nigeria (CBN) introduces a financing initiative to support the government's Economic Sustainability programme, aiming to build 300,000 homes and create 1.5 million jobs in 5 years. The initiative provides funding of up to ₦200 billion to Family Homes Funds Limited (FHFL) for the construction of social housing units, with a focus on creating jobs, boosting local manufacturing, and improving the quality of life for low-income individuals. The CBN will appoint a Technical Advisor to manage the funding requests, monitor the program, and ensure prudent utilization of funds.
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