From Taiye Joseph, Ilorin
Residents of Harmony Estate in Ilorin, Kwara State, have been warned that failure to regularise their mortgage payments could lead to eviction, as the Federal Mortgage Bank of Nigeria intensifies efforts to recover outstanding housing loans.
The Manager of the Federal Mortgage Bank of Nigeria, Kwara State branch, Alhaji Nurudeen Muhammed, gave the warning while speaking at the inauguration of the Harmony Estate Residents Association committee.
Alhaji Muhammed said many occupants of the estate were yet to meet the basic requirements for full home ownership, stressing that the bank had exercised patience over a long period without receiving expected repayments.
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“We have allowed residents to stay in these houses for a long time without fulfilling their mortgage obligations,” he said. “This situation cannot continue. Residents must do the needful and repay their loans to avoid eviction.”
He explained that timely repayment would not only secure their ownership status but also allow other Nigerians to benefit from the bank’s housing schemes.
The FMBN manager disclosed that the bank would soon commence the construction of a new housing estate, with each unit expected to sell for about N25 million. He added that improved security measures would also be introduced in Harmony Estate to enhance the safety of lives and property.
“We are committed to providing affordable housing, but beneficiaries must also honour their obligations,” Muhammed added.
In his remarks, the Chairman of the Harmony Estate Residents Association, Ilorin, Mr Otepola Adeolu, charged members of the newly inaugurated committee to be diligent and committed to their responsibilities.
Adeolu urged committee members to attend meetings regularly in order to stay informed about issues affecting residents and the estate as a whole.
“The essence of this committee is to ensure proper coordination and firsthand information on matters concerning our members,” he said.
He also advised residents to pay their monthly dues and utility bills promptly, noting that proper record-keeping was necessary for effective estate management.
According to him, the committee is expected to maintain accurate records of activities and occupants across the estate’s nearly 500 housing units.
Adeolu appealed for the cooperation of all residents, expressing confidence that collective support would ensure the successful discharge of the committee’s duties in the new year.
