First Bank of Nigeria, FBN, has been accused of scamming some of its employees who worked for the commercial bank for many years, and has now retired by refusing to honour the bank’s pledge to give them homes after paying mortgage contribution for years.
The allegation comes after the commercial bank said it has entered into a partnership with the federal government to provide homes for million of Nigerians.
The Olusegun Alebiosu-led bank had announced recently that it has entered into a strategic partnership with the Ministry of Finance Incorporated Real Estate Investment Fund, MREIFto turn the dreams of homeownership by many Nigerians into reality.
The bank said the intiative is backed by the Federal Government’s N1trillion mortgage fund, designed to empower Nigerians with affordable, long-term credit to own their homes, saying the loan will be based on single-digit interest rate of 9.75 per annum.
According to the ban, eligible Nigerians can access up to N100 million and repay within 20 years, the bank said, adding that the intiative has removed the usual huge burden placed on Nigerians who seek mortgage loan, and present them with long-term financial stability.
But reacting, a social media user Lizz Annie said the home ownership initiative by the commercial bank could be another plot to dupe Nigerians, saying the bank cannot be trusted.
According to Annie, who claimed that her husband was a former employee of First Bank, some former employees of the bank have been left stranded after they were promised home ownership after retirement.
For instance, the social media user said her husband was among the former employees of the bank, who, while working for the bank paid mortgage contribution with the hope that when he retired he would be awarded a home to move in with his family. This did not happen, Annie said, adding that the issue has been a thug of war between her husband and the bank for years.
She warned Nigerians to be careful as the ‘mortgage opportunity recently publicised by the commercial bank be another trick to scam unsuspecting customers, citing her husband case, who she said retired from the bank after attaining 60 years, and has been left in the cold in his old age without roof on his head.
Annie: “They have come again. All the reductions they made from their staff and promised them a house at 60 yrs hasn’t been fulfill. My husband don tire to dey carry documents waka up and down.
“They have now turn to the public. At the end e go bi story just like the one we’re facing now. Always looking for how to strip the poor naked.”
The home ownership opportunity, according to the bank is backed by a N1 trillion MREIF fund designed to bridge Nigeria’s housing deficit,
The initiative also empowers Nigerians with long-term, low-cost credit to own their homes, according to the details of the initiative.
Eligible customers can access up to N100 million, repayable over 20 years, at an attractive interest rate of 9.75 percent per annually, significantly lower than prevailing commercial lending rates hovering around 27 percent or more.
The facility is open to salary account holders, business owners and even diaspora customers looking to invest back home, the bank said.
Also reacting to the promo, another user Omoniyi Besto Neyo
“Hope it’s not scam. U go reach bank now. The terms n conditions go hard dia.”
Also, Bolanle Ogunmola wrote “First bank and government I no know who dey talk truth.”
Chuks Otito Abuja Realtor, on his part said “I truly hope its genuine. My advice take the loan if u have counted your cost and will try as much as possible to meet up with the requirements. Moreover a planned investment in real estate will always payout
Lawal Olushola Mejabi D’Law, however, described the initiative
As “amazing”.
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