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Housing Access Limited for Policemen, Reports Mortgage Bank CEO

Femi Adewole, CEO of Cooperative Mortgage Bank Ltd., revealed that out of roughly 340,000 policemen in the nation, only 30,000 have housing provisions. Adewole shared these details during the inaugural Nigeria Police Housing Summit in Abuja, themed “Renewed Hope for Police Housing in Nigeria.”
 
He emphasized the need for a clear, transparent, and affordable housing policy that benefits the police force. The summit is set to be an annual event aiming to devise strategies to ensure police officers have access to affordable and suitable housing.
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Adewole highlighted the necessity of a long-term housing strategy for the police, taking into account that a significant portion, 70%, earn a low income. He calculated that building 10,000 homes annually would still require 30 years to meet current housing needs, not accounting for any increase in police numbers.
 
"There must be a detailed payment strategy outlining the financing sources for these homes," Adewole stated, stressing the importance of affordability and financial transparency in the housing plan.
Dr. Yemi Adelakun, Managing Director of the Nigeria Integrated Social Housing Cooperative Society Limited, linked the housing of police officers to improved public safety, suggesting that a well-housed police force is more likely to be motivated and effective.
 
Inspector General of Police, Kayode Egbetokun, also spoke at the summit, mentioning the government's commitment to bettering police officers' living conditions as part of a broader agenda to boost morale and effectiveness.
 
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In addition, the Federal Mortgage Bank of Nigeria announced its support through a N100 billion off-taker guarantee aimed at fostering affordable homeownership across 100,000 units within the Renewed Hope Cities and Estates Programme.

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