REQUIREMENTS FOR LOAN

If the loan is required for building, completing, or extending a house, the following documents are required:

1. Letter of Introduction from MDA duly signed by DHRM
2. Letter of Appointment
3. Confirmation of Appointment (Gazette of Confirmation)
4. Official ID Card
5. Applicant Passport
6. PFA Certificate
7. Applicant’s Current Payslip
8. Guarantor’s Confirmation of Appointment
9. Guarantor’s Official ID Card
10. Guarantor’s passport
11. Guarantor’s Current Payslip
12. Deed of Guarantor’s Form 1 (to be downloaded from the website)
13. Deed of Guarantor’s Form 2 (to be downloaded from the website)
14. Declaration of HOD, Court Affidavit Form (to be downloaded from the website)
15. Declaration of Next of Kin Form (to be downloaded from the website)
16. Documents and Investigation Form (to be downloaded from the website)
17. Letter of Offer by the Developers (Purchasing Loan)
18. Letter of Undertaking by the Developer (Purchasing Loan)
19. Certificate of Occupancy (Building Loan)
20. Building Plan Building Loan)
21. Cost Estimate (Building Loan)

If the Borrower retires or disengages while the loan is unpaid, the Board may exercise foreclosure unless:

• The loan is fully repaid.

• The Borrower’s estate makes satisfactory repayment arrangements.

• The property is insured (first year by Board, subsequent years by Borrower).

• Borrower pays stamp duties, registration, and other related expenses.

Loan ceiling: Applicants are entitled up to 9 times their annual salary or ₦15,000,000 (whichever is lower). Any excess house cost must be paid by the applicant before final disbursement.

PENALTIES FOR FAKE DOCUMENTS

Presentation of fake documents to secure a loan:

1. Is misconduct punishable under PSR Chapter 3, Section 3, Rules 030301 & 030401.

2. Constitutes corrupt practices under ICPC Act.

3. Amounts to “ALTERING” – a crime under Nigerian law.

Officers involved shall face disciplinary action and possible prosecution.

REPAYMENT

• All loans must be repaid within 25 years (minimum).

• Repayment years depend on applicant’s age or first appointment date (whichever determines retirement).

• Repayment begins immediately after receiving the first installment (for building, land, or house purchase loans).

RETIREMENT

Applicants who retire before full repayment must make alternative arrangements to liquidate outstanding balances from non-salary sources as government may direct.

DEATH

If a borrower dies before repayment, the Board may seize the mortgaged property unless the representative makes satisfactory repayment arrangements.

RESIGNATION

If an officer resigns or is dismissed before full repayment, the Board may seize the property unless:

1. The outstanding loan is paid.

2. Borrower makes satisfactory repayment arrangements.

CLEARANCE LETTER

• All retiring officers must obtain a clearance letter from the Board confirming non-indebtedness.

• The clearance/indemnity form must be completed at least 3 months before retirement.

INSURANCE

• Houses built, purchased, or renovated under this scheme must be insured against fire, flood, or lightning.

• Insurance is taken in the joint names of the Board and Borrower.

• Premium is deducted from Borrower’s salary.

LETTING

• Houses obtained with Board loans must not be let or sub-let until repayment is complete.

• If rent is collected, the Board may require a portion to be paid towards loan repayment.