The FISH Programme was initiated by the Head of Civil Service of the Federation to provide affordable housing in good locations to civil servants.
FISH stands for Federal Integrated Staff Housing
The FISH Programme is open to all Federal Civil and Public Servants in Nigeria.
No, the government will help you secure a mortgage loan to pay for the house, which you have to repay over a period of years.
A mortgage is loan given to you to help finance the purchase of a house. Like every loan, you will have to repay the principal and the interest on the loan over a period of time.
No, the interest rate for the mortgage will not be as high as the commercial lending rate. The primary target of the FISH programme is to secure single-digit interest rate mortgage loans for Civil Servants.
No, it will be paid directly to the developer through a Primary Mortgage Bank (PMB) and the keys to your house handed over to you.
Yes, you will receive monthly salary. However, it will be less than usual due to the monthly deductions for repayment of your mortgage loan. In-line with regulation, the total deduction from your salary cannot be more than one-third of your monthly salary.
- The length of time you will need to repay the loan is dependent on a number of factors such as:
- Your current salary (net income),
- If you have an existing loan running,
- Number of years before retirement, etc.
You need to register as member of FISH Cooperative Society Limited, complete the application for house allocation form, complete the mortgage profile form for housing loan and complete the FMBN and FGSHLB forms for mortgage.
You cannot apply for more than one house at the same time.
To own a house under the FISH programme, you need to register as a member of the FISH Cooperative.