The Board was primarily established to grant housing loans to public servants in the employment of the Federal Government to enable them:

1. Build a residential house in Nigeria.

2. Purchase a parcel of land to build a residential house in Nigeria.

3. Purchase a residential house in Nigeria.

4. Improve (renovate) or extend an existing residential house in Nigeria for the use of the applicant or their family.

Holistically, the duties of the Board as stipulated in the Act establishing it include the following:

1. Formulating general policies and guidelines for the operation of the Federal Government Staff Housing Loan Scheme for Federal Public Servants.

2. Providing soft loans to Federal Public Servants for the purposes of owning residential houses in places of their choice in Nigeria.

3. Scrutinizing building drawings, survey plans, and locating collaterals submitted by applicants for housing loan beneficiaries.

4. Evaluating the cost estimates for building or renovation.

5. Undertaking site inspection of funded projects.

6. Safe-keeping of title documents collected from loan beneficiaries as collateral for loans granted.

7. Executing mortgages in the states where the beneficiaries’ properties are located.

8. Conducting post-loan approval inspections of construction-funded projects with a view to recommending a second installment to beneficiaries.

9. Issuing mandatory clearance certificates/letters for retiring Federal Government Staff for the purposes of processing payments of benefits.

10. Partnering with approved Federal and State Government-owned Housing/Mortgage Agencies, including private estate developers identified by workers, for the provision of affordable houses to public servants.