Connect with us

THE NATION

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

Published

on

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.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

THE NATION

S’Court to hear Adeleke, PDP appeal on Osun governorship poll today

Published

on

The Supreme Court has fixed Monday (today) to hear the appeal filed by the candidate of the Peoples Democratic Party in the September 2018 governorship election in Osun State, Senator Ademola Adeleke.

The date of the hearing was contained in notices sent to parties to the suit, which also has the PDP as plaintiff, last week by the Registry of the Supreme Court.

Adeleke and the PDP are seeking the reversal of the May 9, 2019 majority judgment of the Court of Appeal, Abuja, which upheld the election of Adegboyega Oyetola of the All Progressives Congress as the Governor of Osun State.
The ruling of the Court of Appeal came after the March 22, 2019 judgment of the Osun State Governorship Election Petitions Tribunal, which ruled by split decision to give victory to Adeleke and the PDP.

Justices Peter Obiorah and Adegboye Gbolagunte, in the majority decision, upheld the petition, voided Oyetola’s victory and declared Adeleke of the PDP winner of the poll.

Justice Ibrahim Sirajo, who chaired the tribunal, however, gave a minority judgment that dissented and struck out the petition on the grounds that the petitioners did not prove their case.

Oyetola, APC and the Independent National Electoral Commission appealed the majority judgment at the Court of Appeal, Abuja, while Adeleke and the PDP appealed the minority decision.

On May 9, 2019 the Court of Appeal gave its decisions on the appeals, with four members of the five-man panel upholding the appeals by Oyetola, APC and INEC, and dismissing the cross-appeal by Adeleke and the PDP.
The Court of Appeal’s majority judgement set aside the majority judgment of the election tribunal, upheld the result as declared by INEC and affirmed Oyetola of the APC as winner of the election.

Justices Jummai Sankey, Abubakar Yahaya, Isaiah Akeju and Bitrus Sanga gave the majority decision, while Justice George Mbaba gave the minority judgment, in which he dismissed the appeals and upheld the cross-appeal.
The appeal to be heard by the Supreme Court on Monday is that filed by Adeleke against the majority decisions of the Court of Appeal.

Continue Reading

THE NATION

Sanwo-Olu to set up special courts for traffic offenders

Published

on

Lagos State Governor, Babajide Sanwo-Olu has declared total war on traffic offence, saying special courts will be created to try offenders, who will be made to serve their punishment if found guilty at the point of contravention.

Sanwo-Olu said his administration would not spare anyone, irrespective of status that endangers lives of road users by disobeying the state traffic regulations.

The Governor spoke on Sunday, at an Interdenominational Thanksgiving Service organised by the Lagos chapter of the Christian Association of Nigeria (CAN) and held at Deeper Life Bible Church Headquarters in Gbagada, Lagos, Southwest Nigeria.

He said: “We want the people to obey Lagos traffic law. We want them to understand that they are not the only road users who have right of way. If you want my government to finish well, don’t drive against the traffic.

“We are working with the Acting Chief Judge of the State to set up special mobile courts that will dispense judgment on traffic offences. Any offender would be made to serve the punishment immediately, which could be in form of compulsory community service. We are declaring zero tolerance for disobedience to traffic rules.”

Sanwo-Olu said the task of realising the ‘Greater Lagos’ project would be difficult without the support of the residents, urging Christians in the state to join hands with his government in its efforts to create a prosperous Lagos.

Christian leaders in the State expressed satisfaction over the choice of Sanwo-Olu as the governor, describing him as “a complete child of God and the one we have been waiting for.’’

The CAN leaders observed that Sanwo-Olu’s administration took off on a promising note, reassuring the governor that the body of Christ in Lagos State would remain in prayers for him to finish well.

The 50,000-seater auditorium of the church was filled to capacity, as a crowd of worshippers trooped in to join the Governor and his wife, Dr. Ibijoke Sanwo-Olu, in the thanksgiving.

In his homily titled: “Finishing Well,” CAN Chairman, Lagos State, Apostle Alexander Bamgbola, described life as “a race”, pointing out that Sanwo-Olu’s emergence was a call to service.

He urged the governor to always seek the pleasure of God before taking decisions.

While observing that many leaders failed because they sought the pleasure of man and severed their connections with God, Bamgbola said a leader must be just in deciding the affairs of the society.

Reading from 2nd Samuel 23:1-4, the clergyman listed attributes of leaders who wanted to finish well.

Directing the message to the Governor, Bamgbola said: “You must run with God if you want to finish the race of life well. Run with fear and pleasure of God. Run courageously and deliberately to win.

“Run the race without worldly distractions. Run with knowledge of eternity, because all leaders will give account of their stewardship on Judgement Day. So therefore, you must run the race with the aim to make heaven.”

Responding, Sanwo-Olu appreciated the Christian leaders and members of their congregation for the thanksgiving, enjoining residents to obey the law as part of their responsibility to the state.

The Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, Lagos All Progressives Congress (APC) Chairman, Alhaji Tunde Balogun, Chief of Staff to the Governor, Mr Tayo Ayinde, Deputy Chief of Staff, Mr Gboyega Soyannwo, and white-cap chiefs who represented the Oba of Lagos, Oba Rilwan Akiolu, were among the dignitaries at the event.

Continue Reading

THE NATION

EU report: 2019 elections fair, Presidency insists

Published

on

Ahead of the 2023 elections, the European Union Election Observation Mission to Nigeria has called for a reform of the nation’s electoral process.

It stated that a lack of transparency and inconsistent numbers during the collation of results by the Independent National Elecoral Commission cast a long shadow over the integrity of the 2019 elections.

It has, therefore, presented 30 recommendations on electoral reform to improve future elections in the country.

The EU EOM final report on the 2019 elections was presented by the EU Chief Observer, Maria Arena, and her deputy, Hannah Roberts, at a press conference in Abuja on Saturday.

The report read in part, “The EU observed 94 collation centres. In almost all, the results forms and smart card readers were not packed in tamper-evident envelopes as required.

“Numerical discrepancies and anomalies on polling unit results forms were identified and were mostly corrected by collation officers on the spot, but without a clear system of record-keeping.”

It added, “Leading parties were at fault in not reining in acts of violence and intimidation by their supporters, and abuse of incumbency at federal and state levels.”

“Inconsistent numbers during collation, “lack of clear checks and explanations, and insufficient public information undermined the integrity of the elections.

“Citizens did not have sufficient means to scrutinise results. INEC did not provide centralised information on the declared results for the different locations and has not posted complete results data on its website.

“Similarly, there is a lack of disaggregated results by local government, ward or polling unit, which would allow for thorough checking of results.”

The mission observed further that the discrepancies and the insufficient public information were not in line with international standards for access to information and public accountability.

It also noted that the citizens did not have sufficient means to scrutinise results, stressing that INEC did not provide centralised information on the declared results for the different elections.

The mission, in its recommendations, stressed the need to strengthen the procedures for the collation of results to improve integrity and confidence in electoral outcomes.

It submitted that the systemic failings seen in the elections, and the relatively low levels of voter participation, indicated the need for fundamental electoral reform.

Arena said, “Such reform needs political leadership that is dedicated to the rights of Nigerian citizens, and an inclusive process of national dialogue involving state institutions, parties, civil society and the media. This needs to be urgently undertaken to allow time for debate, legislative changes and implementation well in advance of the next elections.”

She also said INEC should considerably strengthen its organisational and operational capacity as well as its internal communication, noting that the inter-agency body responsible for electoral security should work more transparently and inclusively with regular consultations with political parties and civil society.

The mission said the the seven areas of priorities for electoral reform included requirements in law for full results transparency with data easily accessible to the public.

The EU EOM also called for the introduction of a legal requirement for parties to have a minimum representation of women among candidates, faulting the low number of female candidates for the polls.

It further recommended that election tribunals should cover pre-election cases in order to improve access to remedy and to avoid petitions being taken to different courts at the same time.

Overall, the EU EOM concluded that the elections were marked by severe operational and transparency shortcomings, security problems and low turnout.

It added, “Positively, however, the elections were competitive, parties were able to campaign and civil society enhanced accountability. Leading parties were at fault in not reining in acts of violence and intimidation by their supporters, and abuse of incumbency at federal and state levels.”

-PUNCH

Continue Reading
Advertisement

Facebook

Advertisement
Advertisement

Trending