The Nigeria Police Force on Tuesday said it had contributed over N10 billion in remittances to the National Housing Fund since the inception of the scheme.
The Inspector-General of Police, Mr Ibrahim Idris, made the disclosure at the inauguration of the Nigeria Police Mortgage Bank Cash Centre and ATM gallery in Abuja.
Idris said that the establishment of the bank became imperative to provide police officers with unhindered access to the National Housing Fund.
He also said that the bank had also provided officers with loans at lower interest rates than obtained in other commercial banks.
He promised to ensure transparency and accountability in the management of all police investments to enhance welfare of personnel.
“It is my earnest belief that the Nigeria Police Mortgage Bank is strategically positioned to drive our ambitious welfare agenda,”the police boss said.
He said that the force would continue to support and encourage synergy toward achieving the welfare objectives of the bank.
He said that the police management would consider ways of encouraging and engaging other police investments and Institutions in mobilising fund to support the bank.
The Chairman, Board of Directors of the bank, retired DIG Uba Ringim, said that the bank had successfully disbursed mortgage loans to over 500 police personnel.
Ringim said the bank had also processed over 400 National housing fund loans approval from the Federal Mortgage Bank of Nigeria for personnel.
He further said that over 200 police officers were beneficiaries of other loan products with the lowest interest rates.
He said that the cash centre would avail the bank customers with the opportunity to walk in and access wide range of products and mortgage services.
The chairman said that the bank had obtained CBN approval for the deployment of three additional ATMs in Garki, Wuse and Dei-Dei, all in Abuja.
The News Agency of Nigeria (NAN) reports that the Nigeria Police Mortgage Bank commenced business in 2015 to provide personnel with affordable and quality housing.