In a memo made available to journalists on Saturday, Dachung Bagos, the chairman of the ad hoc committee on non-remittance to the NHF, said the investigative hearing would commence on August 23.

Bagos said the committee, which will be inaugurated by Tajudeen Abass, speaker of the house of representatives, has sent invitations to critical stakeholders ahead of the hearing.

Those invited include the head of the service of the federation; the accountant-general of the federation; the auditor-general of the federation; chairman of the Independent Corrupt Practices and other Related offences Commission (ICPC); acting chairman of the Economic and Financial Crimes Commission (EFCC) and the surveyor-general of the federation.

Others are the managing director/chief executive of the Federal Mortgage Bank of Nigeria; the officer in charge of department of estate development loan; the managing director/chief executive, the federal housing authority; the permanent secretary, ministry of finance, budget and national planning and the permanent secretary, ministry of works and housing.

Also invited are the executive secretary, federal government staff housing loans board; the president/chairman of council, real estate developers association of Nigeria; all ministries, departments and agencies; the commissioner for insurance/chief executive officer, national insurance commission (NAICOM), other concerned stakeholders and members of the public.

The statement also urged the affected institutions and government officials to submit their memos and other relevant documents to the committee’s secretariat.

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Hon (Dr) Abike Dabiri-Erewa, Chairman/CEO, Nigerians in Diaspora
Commission (NiDCOM), stated this when she visited the Management and
Staff of the Federal Mortgage Bank of Nigeria (FMBN) in Abuja.

This is coming after both agencies have concluded the final stages of
the Diaspora Housing Mortgage Policy.

Dr Dabiri-Erewa, maintained that Nigeria, being the highest diaspora-
remitting country in sub-saharan Africa with over 19 billion dollars in
2021, according to the World Bank, assisting them own houses of their
own, is the least of incentives for Nigerians abroad who tirelessly
contribute to Nigeria’s development.

In addition, the NiDCOM Boss disclosed that this move will encourage
Nigerian Diaspora to do more for the country, there by creating a
win-win situation.

Dr. Dabiri-Erewa added further that the Scheme is aimed at enabling
Nigerians in Diaspora have mortgage accounts, participate in the
National Housing Fund (NHF) scheme, access loans up to N50 million, and
own homes through certified developers all from the comforts of their
locations.

Giving further insights, the NIDCOM Chairman/CEO, explained that the
package is available to any Nigerian (above 18) living in the Diaspora,
with evidence of regular flow of income, with contributions made over a
minimum period of one year before being eligible to access the mortgage
loan.

Also, after contributing for the applicable minimum period, applicants
will apply for the mortgage loan through an accredited Primary Mortgage
Bank.

Following this, applicants will register with the NHF and contribute
$150 (for beneficiaries earning $3,000 and below monthly), or $200 (for
beneficiaries earning $3,001 and above, monthly), respectively for a
minimum period of a year.

Other features of the package include: 30% down payment, a single-digit
interest rate of nine per cent and a payback period of up to 10 years.

Meanwhile, she seized the opportunity to congratulate the new FMBN
MD/Chief Executive, Mr. Madu Hamman and urged him to sustain the
impressive achievements of his predecessors.

Mr. Madu Hamman agreed that work has been completed to make the
Scheme, a reality.

However, he said that the launching of the Scheme would have occurred
earlier in the year, attributing the change of leadership at the FMBN,
as a factor.

Mr. Hamman gave assurances that the inauguration of the FMBN Diaspora
Housing Mortgage Scheme will be actualized in earnest to provide a
transparent, seamless platform for Nigerians in Diaspora to invest and
own homes in Nigeria.

The NiDCOM/FMBN Committee is given till the end of May to finalize
preparatory work for the launch of the Scheme proposed for London.

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According to a statement signed by the group’s president, Alhaji Sallau Arawa, the Managing Director, Nigerian Ports Authority, NPA, Hadiza Bala Usman has, sometimes in collaboration with the KYSC, provided empowerment packages to the people of the state unmatched by any other politician in the state.

Arawa said in the statement that: “It is our humble submission that the statement credited to His Excellency the Governor of Katsina State and APC Katsina Party Chairman is false and completely incorrect. The Managing Director of Nigerian Ports Authority, Hajiya Hadiza Bala Usman through the corporate social responsibility projects implemented by NPA in collaboration with the above named KYSC have delivered more impactful empowerment packages in Katsina State.

Interventions which the NPA boss is said to have made in the state, according to the press release include: “support and empowerment to the weak and destitute in in all LGAs of Katsina State. These projects range from the provision of furniture in primary schools, provision of solar lights & blankets in 280 Almajiri schools, provision of sewing machines, grinding machines to women and irrigation pumps to rural farmers as detailed below.

Hajiya Hadiza has contributed more than any political appointee ever in the history of Katsina State, be it at the State or Federal Government level to empower and support the weak in our society,” Arawa said in the statement.

The group encouraged political office holders in in the state to be very sure of their facts before going public to avoid spreading falsehood.

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Dangiwa made the disclosure in Abuja on Saturday in a statement signed by Mrs Zubaida Umar, FMBN’s Group Head, Corporate Communications.

He pointed out that the bank recovered N2.4 billion in 2017, adding that to energise the recovery efforts the bank was working in partnership with the Special Presidential Investigation Panel for the Recovery of Public Property.

The managing director said that the move could recoup N43 billion from the bank’s debtors within the next 18 months.

Dangiwa said that the bank was strengthening its collaboration with key stakeholders, especially the labour unions, whose members constitute the bulk of contributors to the National Housing Fund scheme.

He said this has culminated in the commencement of a need-targeted housing delivery programme across the country.

These included 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).

“Ground breaking ceremonies have been done and construction work has commenced in earnest in five states, across the geopolitical zones of the country.

“Others are in the pipeline as we intend to cover every state across the country; part of the central focus is to establish a template for affordable housing delivery in Nigeria.

“Accordingly, the implementation concept is unique with the housing designs and bill of quantities (BoQ) directly commissioned by the Bank to ensure the profit motive is greatly minimised.

“This template has given us the leverage to guarantee that the selling prices for the housing units range between N3.1m and N8.3m for 1, 2 and 3 bedroom dwellings.”

He said FMBN had made significant milestones in its strategic plan to reform and reposition the institution as a more effective provider of safe, decent and affordable housing for Nigerians.

He said after 12 years of failed attempts at institutional restructuring, management’s proactive stakeholder engagement drive had resulted in the successful passage of key amendments to the Laws establishing the Institution and the National Housing Fund (NHF) by the National Assembly.

He added that the amended laws when assented to by the President, would birth a new, more independent and financially stronger FMBN with a robust capital base of N500 billion.

He said that the additional liquidity and operational flexibility would greatly enhance FMBN’s capacity to effectively deliver on its mandate of providing affordable mortgage finance for home ownership by Nigerian workers.

He commended the bank’s employees for their hard work and encouraged them to continue to strive towards repositioning the bank on the path of sustainable growth.

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The monthly report released by the National Pension Commission (PenCom) on Sunday in Abuja by Peter Aghahowa, the commission’s spokesman made the disclosure.

The commission also disclosed that the PFAs invested N4.22 trillion in Federal Government’s bonds, Federal Mortgage Bank of Nigeria (FMBN) got N10.91 billion; Sukuk bonds, N53.15 billion; and green bonds, N6.96 billion.

“State government securities gulped N154.43 billion, while corporate bonds was N400.45 billion with corporate infrastructure bonds amounting to N7.33 billion, even as banks gulped N849.09 billion.

“Others include commercial papers, N116.76 billion and real estate properties, N226.64 billion and supranational bonds, N6.67 billion.

“Open and close end funds, N12.18 billion; mutual funds, N21.29 billion; private equity fund N38.57 billion; infrastructure fund, N16.07 billion; other assets N24.56 billion and Reits, N9.10 billion.” the commission said.

According to the commission, the total sum invested in Federal Government’s securities by PFAs stood at N5.78trn out of N8.33 trillion pension assets as at August. The investment represents 69.30 per cent of N8.33 trillion pension assets,” the commission said.

The commission, in the monthly report, also reclassified the pension assets according to the new structures, namely; 1, 11, 111 and 1V multi-fund structures.

“Fund I has N4.55 billion; Fund II, N3.69 trillion; Fund III N1.96 trillion and Fund IV N619.59 billion. It noted that Closed Pension Fund Administrators Fund (CPFAs) is N1.08 trillion and Existing Schemes (ES) N957.50 billion,” it said.

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“The sack of Murtala Ibrahim, an auditor in the bank, for blowing the whistle and refusing to cover up a contract scam and manufactured financial report of the bank, is yet another slap on the government’s whistle blower policy,” AFRICMIL said in a statement.

Co-ordinator of AFRICMIL, Chido Onumah, said the sack of Ibrahim “is one case too many coming at a time when another whistle blower, Ntia Thompson, is still battling for reinstatement several months after his sack and over two months since his recommended reinstatement by the Head of Service of the Federation”.

The statement frowned at what it called obvious witch-hunt of the whistle blower by transferring him from the headquarters to a branch in one of the States and then following up with a query “which cautioned him for doing his official work, and when they couldn’t fault his explanation the bank went on to dismiss Mr. Ibrahim for the ridiculous reason that his service was no longer needed”.

AFRICMIL demands immediate reinstatement of the whistle blower while urging Babatunde Fashola, Minister of Works, Power and Housing, whose Ministry oversees the bank, to order a thorough investigation of the scandal.

On the case of Thompson, AFRICMIL noted that two separate letters from the Office of the Head of Civil of the Federation (OHCSF) signed by Mrs. Nuratu Batagarawa, Permanent Secretary, Service Policies and Strategies Office, were addressed to Ambassador Sola Enikanolaye, Permanent Secretary, Ministry of Foreign Affairs, asking him to take urgent action on the whistleblower’s case.

The organization expressed regret over failure of the Ministry of Foreign Affairs to comply with the directive of the OHCSF requesting that Thompson be recalled and all disciplinary procedures suspended pending the outcome of the ongoing investigation of the case of fraud at the Directorate of Technical Cooperation in Africa (DTCA) by the Economic and Financial Crime Commission (EFCC).

“The last letter, dated April 5, 2017,” Onumah observed, “made it clear to Ambassador Enikanolaye that by the provisions of the Public Service Rules (PSR), the offences alleged to have been committed by Thompson were not punishable by retirement from service.”

AFRICMIL unreservedly extended gratitude to the Office of the Head of Service of the Federation for promptly wading into the matter by calling for the immediate reinstatement of Thompson and reiterating its commitment to safeguarding the policy of government on the protection of whistleblowers by directing its full implementation by all Ministries, Departments and Agencies (MDAs) of government.

“We hereby call on the federal government to take decisive action on safety of whistle blowers. If government cannot protect internal whistle blowers what more can be expected for outsiders and other Nigerians? “Instead of persecution or victimization, whistle blowers like Mr. Thompson and Ibrahim ought to be rewarded for their acts of patriotism,” Onumah stated.

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CPC had also alleged that the bank diverted loans disbursed to nine mortgage beneficiaries by Federal Mortgage Bank of Nigeria, FMBN and gave them incorrect information about their applications for National Housing Fund.

The mortgage bank in a statement on Wednesday, stressed “respectfully that these allegations were based on misinformation and lack of coordination on the part of the customers.

“Regrettably, the customers had unresolved issues with the bank with respect to their failure to produce the title deeds of the properties in question.

“Also when the complaint of the Consumer Protection Council came to us, we swiftly replied them with the correct position of things via a letter dated August 5th 2016 (copy attached) which was duly received and stamped in the office of its Director General.

“Meanwhile following the intervention of the Federal Mortgage Bank of Nigeria (FMBN) the disbursement of funds to batch 54 have been recalled while Resort is in the process of transferring the funds to FMBN.

“At RSL, we operate by the rules. It will be unprofessional on our part to release funds for a project that does not seem to conform to the laws of the land. We are a law abiding corporate organization and we must follow due process in releasing funds to our clients/customers.

“We therefore strongly appeal to the customers to exercise restraint and bear with the bank, and regret the inconvenience this delay in releasing the funds may have caused them, but we are bound to operate by the rules.

“We are a corporate organization and we have to give account of every transaction. We are not out to frustrate our clients and make things difficult for them,” the bank said in a statement by Chidi Ahaotu, its Head, Legal.

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Esin, who led a delegation on a courtesy visit to the Commission’s acting Chairman, Ibrahim Magu, in Abuja, said “We seek the kind assistance of the Commission on the recovery of the funds to the bank. These monies belong to Nigerian citizens.

“There are several organisations not complying with the provisions of the National Housing Fund Act and we hope that the Commission will work with the bank to promote the Act.”

He further assured Magu that the existing Memorandum of Understanding, MoU, between the Commission and the bank was still effective.

The FMBN boss, who stated that affordable housing was a veritable tool in the fight against corruption, added that “Over N3 billion in mortgages have been released for over 100 staff of the EFCC; N1.6 billion National Housing Fund loan by First Generation Bank for 131 staff is awaiting the Board’s approval and N1.3 billion NFH loan has not been disbursed because houses are not available.’’

In his remark, Magu stated that his administration would continue to be guided by the details of the MoU between the Commission and the bank.

He, however, added that the law governing the NHF scheme needed to be checked and reviewed at the legislative level.

Magu further urged the bank to strengthen its Compliance Unit, adding that the Commission is willingly to create a desk dedicated to the FMBN needs.

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