The Federal Mortgage Bank of Nigeria (FMBN) in collaboration with the special presidential investigation panel for the recovery of pubic property have set a timeline of 18 months to recover about N43 billion from delinquent debtors.

This is even as the bank has recorded significant progress in its revenue drive by recovering N3billion from debtors in 2018, in addition to the N2.4billion recovered in 2017.

Managing director of FMBN, Ahmed Musa Dangiwa, stated this at the just- concluded 2018 Annual Management Retreat in Kano with the theme: “Improved Transaction Turnaround Time: Getting it Done.”


He hinted that after twelve years of failed attempts at institutional restructuring, that the management’s proactive stakeholders’ engagement drive resulted in the passage of key amendments to the laws establishing the institution and the National Housing Fund (NHF) by both chambers of the national assembly.

The amended laws, when assented to by President Muhammadu Buhari, would lead to more independent and financially stronger FMBN with a robust capital base of N500 billion.

He emphasised that the bank was strengthening its collaboration with key stakeholders, especially the labour unions, whose members constituted the bulk of contributors to the NHF scheme.

This he said, culminated in the commencement of the National Affordable Housing Delivery Programme (NAHDEP) for Nigerian workers, in collaboration with the Nigeria Labour Congress (NLC), the Trade Union Congress (TUC) and the Nigeria Employers’ Consultative Association (NECA).


He stated that the bank intend to cover every state across the country adding that the central focus was to establish a template for affordable housing delivery in Nigeria.


Dangiwa hinted that the implementation concept was in line with the housing designs and bill of quantities (BoQ) directly commissioned by the bank to ensure the profit motive was greatly minimised.

https://www.akelicious.net/2018/11/fmbn-goes-after-debtors-to-recover-n43bn.html

FTC since January 2012��� show me some love

Ok

Imagine just a privileged few including our Sinators (Ben Murray Bruce, Sathief and their likes) owing FMBN and AMCON billions of naira without anyone raising a eyebrow about it.

Also imagine that the Trader Moni loan to petty traders and the Conditional Cash Transfer for the poorest of the poor in our society are said to be costing us less than N5bn, yet the affluent citizens (mostly politicians) and their gullible supporters have found a way to condemn it. Peter Obi actually called it a joke!

When a Nigerian bank or big business is going bankrupt, it's government/public money that's used to bail it out to remain afloat. But when the poorest of the poor are being considered for legitimate crumbs by the same government, it's some of the common Nigerians who will find a way to ridicule such effort. We are our own enemies.

As if your staff are not in connivance

Good way to go.......

folajoko:
FTC since January 2012��� show me some love

congratulations on this great achievement of your life.
This calls for celebration oooooo

Awesome...


https://www.youtube.com/watch?v=RrHQu_uReUg&t=7s

those rich men would not like this...

To avoid going the way of Diamond Bank.

All those forming rich with borrowed money should pay up.

ok o

They Are Jokers. Was A TimeFrame Not Given For The PayBack? Were There No Measures To CheckMate Defaulters? This Country Is A Huge Joke.

bigkahuna704:
They Are Jokers. Was A TimeFrame Not Given For The PayBack? Were There No Measures To CheckMate Defaulters? This Country Is A Huge Joke.

Only people of our present level gets "checkmated" or even deprived of loans with absurd "loan recovery measures".

What do we do about this?