The Trade Union Congress (TUC), in conjuction with First City Monument Bank (FCMB) and Rock of Ages Properties Limited have revealed plans to construct 100,000 housing units for the members of the union. According to Mr. Bala Kaigama- President of the Union, the housing project be financed by the Federal Mortgage Bank of Nigeria (FMBN).
The building project aims at providing affordable houses to the company members. Subscribers to the Housing Fund (NHF) are not left out as they are also entitled to the scheme. The housing units range from: two and three bedroom apartments, three and four-bedroom terrace duplexes as well as four-bedroom semi-detached duplexes and five-bedroom fully detached duplexes.
Mr. Adike Chux- Executive Director of Rock of Ages Properties Limited stated that a sum of US$8.5m has already been set aside for the scheme. These houses will be made available to workers under a mortgage plan to see them own a house under a 30-years repayment arrangement.