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FMBN processes N12.4b NHF refunds, registers 224,752 in 2018

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The Federal Mortgage Bank of Nigeria (FMBN) says it has processed N12.4 billion refunds to contributors of the National Housing Fund scheme and registered 224,752 to the fund in 2018.

A statement signed by Mrs Zubaida Umar, the Group Head, Corporate Communications, FMBN said that FMBN Managing Director,Mr Musa Dangiwa, disclosed this during an oversight visit by the Senate Committee on Housing to FMBN headquarters, Abuja.

Highlighting some of the key achievements of the bank in the last one year, Dangiwa said it had disbursed housing loans totaling N40.9 billion to 1,843 NHF contributors.

Dangiwa said that the bank also provided Home Renovation Loans totaling N14.072 billion to 16,031 Nigerian workers.

He also listed FMBN innovative housing products to tackle housing affordability challenge which included rent-to-own scheme, where contributors could own a home and pay monthly or yearly rents over a 30-year period.

He said another product was the NHF Individual Housing Construction loans that could be payable over a 15-year period at interest rates of seven per cent.

“Another notable one is the reduction of equity contribution requirements for accessing NHF loans from 10 to zero per cent for sums of up to N5 million and 20, 30 per cent to 10 per cent for loans of up to N15million.

On the way forward, the FMBN boss said that the bank would continue ongoing efforts to fully automate its business operations to improve efficiency and timeliness in the delivery of its services to Nigerian workers.

He said that a key component of this strategic policy was achieving end-to-end automation of all its operations ranging from NHF collection, loan processing, issuance of statement of accounts, NHF refunds amongst others.

Dangiwa thanked the Senate Committee for its unprecedented support of the bank, specifically for the accelerated hearing and passage of the NHF and FMBN Amendment bills, which are now ready for the president’s assent.

The Committee Chairman, Sen. Barnabas Gemade, commended the landmark strides recorded by the management of FMBN in its efforts to reform and reposition the bank.

Gemade lauded the ability of the management to create a professional work culture and the sustained push for the N500 billion recapitalisation of the institution.

He said this led to the passage of the NHF and FMBN amendment bills by the National Assembly; and the development of innovative housing products to cater for unique needs of workers.

The chairman cited the bank’s aggressive drive to leverage technology toward increasing transparency and accountability in the operations of the bank.

Gemade said that in the two years of carrying out their constitutional role to supervise and oversight the bank, members had noted a strong sense of direction and accountability by the management.

“In the past two years, we have seen tremendous turnaround in terms of management and organisation of this agency.

“This gives us a sense of comfort that whatever investment government has made, and whatever appropriation the Nigerian people have committed here, either directly or through government is in safe hands.”

Urging the management to keep up the good work, he called on stakeholders to support their efforts to strengthen the bank for even greater impact.

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THE NATION

ASUU to FG: You must pay N50b before resumption

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The Academic Staff Union of Universities (ASUU) on Sunday insisted that the federal government must N50billion revitalisation fund for it to consider suspending its ongoing strike.

The Union also said it had lost confidence in government making empty promises which it will not keep to after agreements have been reached.

Other conditions attached to the suspension of the strike is the presentation of concrete evidences of the payment of the promised N20billion earned academic allowances and showing how the balance of N85billion will be paid with timelines.

ASUU President, Professor Biodun Ogunyemi who stated this on Sunday in Ibadan while speaking to newsmen added that the members of the Union have said only concrete evidences of implementation by the government would make them return to the classrooms.

According to Ogunyemi, while ASUU has rejected Government’s proposal of N20billion (which is to be paid in two tranches) made by the government on the revitalisation of Universities, the union is asking government to mainstream the earned academic allowances into the 2019 budget which is still being worked on by the National Assembly.

He lamented that the Nigeria’s ruling class does not see education as a priority but prefer to create new education colonies of private educational institutions which cannot meet the needs of Nigerian children.

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THE NATION

$217.7b looted in Nigeria in 38 years – Magu

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The Acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, has revealed the total money stolen in Nigeria between 1970 and 2008 was $217.7 billion.
Magu made this known during annual conference of the Online Publishers Association of Nigeria, held in Abuja.
Represented by the EFCC spokesman, Tony Orilade, Magu said Nigeria constituted about 30.5 per cent of Africa’s total share of illicit financial outflow.
He said: “In February 2015, a High-level panel on illicit Financial Flows from Africa constituted by the African Union under the chairmanship of the former President of South Africa, Thabo Mbeki, revealed that Nigeria ranked first among 10 African countries by Cumulative Illicit Financial flows between 1970 and 2008.
“The total outflow from Nigeria for the period was $217.7 billion, constituting about 30.5 per cent of Africa’s total share.”
Magu also said the investigation, arrests, prosecution and asset recoveries undertaken by EFCC over the years confirmed that the level of corruption in Nigeria was truly staggering.
He said: “The various investigations, arrests, prosecution and asset recoveries we have been undertaking at the EFCC over the years have confirmed to us that the level of corruption in Nigeria us truly staggering.
“Thus horrible and inhuman crime is being perpetrated by individuals and groups in both the private and public sectors all over the country.
“The latter include serving and defunct state governors, cabinet ministers, high ranking officers, chief executives of parastatals, and top bureaucrats in the state and federal government agencies.
“The alarming rate of corruption committed by these unpatriotic elements can be partly seen in the number of convictions secured by the EFCC from Nigerian courts since I assumed duty as the head of the Commission in 2015.
“The figure stands at 103 in 2015, 195 (2016), 189 (2017) and 312 for the period January to November 2018.
“The total figure for the period January 2015 to 2018 is a mind blowing 799 convictions.
“In the process of such convictions, the EFCC recovered: N794.5 billion, $261 million, £1.1 million, 8.1 million euro and CFA 86,500.
“Other recoveries under my tenure include: Seized 407 mansions, 281 under interim forfeiture and 126 under final forfeiture.
“Confiscated hundreds of filling stations, petroleum products, real estate, heavy machineries and investment shares.
“Seized 87 lands, 56 under interim forfeiture and 42 under final forfeiture.

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THE NATION

Acting IG Adamu reverses Idris last-minute postings

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Strong indications emerged Tuesday that four out of the seven Deputy Inspectors-General of Police in the Nigeria Police Force may leave the force alongside the former Inspector-General of Police, Ibrahim Idris, who retired on Tuesday.

It was gathered that the DIGs, who are members of the Police Management Team and senior to the acting IG, Mohammed Adamu, might be forced out of the service to pave the way for him to set up a new management team he could work with.

It was gathered that those that might be affected by the reorganisation include DIG Maigari Dikko in Charge of Department of Finance and Administration; DIG Joshuak Habila, Department of Operations; DIG Emmanuel Inyang, Information and Communications Technology; and DIG Agboola Oshodi-Glover, Logistics and Supply Departments.

Police sources said that DIGs Mohammed Katsina (Research and Planning Department); Sani Mohammed (Training and Development Department); and Peace Madueke -Abdallah (Federal Criminal Investigation and Intelligence Department) who were promoted late last year could survive the impending purge of the Police Management Team.

“The three DIGs were on the same rank as Adamu last year. In fact, Abdallah was a Commissioner of Police the same time the acting IG was also a CP, so they were almost on the same level. By virtue of this fact, the new police boss may include them in his management team and save their career from sudden death.”

It was gathered that Abdallah, who has about six years to retire, may be the worst casualty of the purge if Adamu decided to dispense with all the police management team members.

The decision to retain any of the PMT members rested on the acting IG, who is expected to write to the Police Service Commission about his chosen team members.

Meanwhile, the new Police Chief has reportedly reversed some last-minute postings and redeployments carried out by Idris few days before his retirement.

It was gathered that the redeployment of the Lagos State Commissioner of Police, Imohimi Edgal, by the former IG was overturned while other senior officers who were also posted to new commands and formations had been asked to stay action until further notice.

This development, sources said, meant that the redeployment order by Idris would not be obeyed unless sanctioned by the acting IG.

Shortly after meeting with the DIGs in his office at the force headquarters, Adamu was seen going from floor to floor, meeting officers and familiarising himself with his men.

The acting IG, who was decorated with his new rank at the State House by President Muhammadu Buhari, hailed from Lafia, Nasarawa State, and is a holder of Bachelor of Science degree in Geography.

He enlisted into the Force on February 1, 1986 as Cadet Assistant Superintendent and had attended several Senior Officer Courses on Law Enforcement, Crime Prevention, Control and Management within and outside Nigeria.

Before his appointment as acting IG, he was at the National Institute for Policy and Strategic Studies, Kuru, Jos, Plateau State.

He was also the Commissioner of Police in Ekiti and Enugu states and also Assistant Inspector-General of Police in charge of Zone 5 Police Command Headquarters, Benin, Edo State.

Earlier on Tuesday, the acting IG said the police under his watch would be professional and fair to all parties while providing security for the general elections beginning on February 16.

Adamu stated that there were rules of engagement for the Nigeria Police, adding they would be strictly applied in dealing with security matters. He stressed that the police would not pander to the desires of any groups or interests.

Adamu was decorated by President Muhammadu Buhari at the Presidential Villa. Idris, who was appointed IG in 2016, bowed out on Tuesday as he retired from service at the age of 60 years.

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