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FMBN Evolves System For On-Line Access Of NHF Accounts

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12 years ago

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The Federal Mortgage Bank of Nigeria (FMBN) has evolved an automation system which will enable contributors to the National Housing Fund (NHF) to access their accounts online.

A source from the bank disclosed to The Tide that the Chairman of the FMBN Board, Abdul Ogunjobi and his team have evolved strategies that will enable contributors to the NHF  to have easy access to their account as part of the restructuring process.

The source quoted the Board Chairman as saying that the automation that has taken place in the mortgage bank is only available to very few other institutions, and that each contributor to the NHF can see his contribution and details of his account online, which was done manually in the past.

According to the FMBN source, a profit before tax of N300 million was made in the current accounting year while the debt profile of the organisation dropped from between N4-8 billion in past years to N3.6 billion in the current season.

Meanwhile, the National Deposit Insurance Corporation (NDIC) has begun the liquidation process of those Primary Mortgage Institutions (PMIs) it considered not viable.

The Managing Director of the Corporation, M. Ibrahim has said that they had to do a lot of search at the Corporate Affairs Commission (CAC) to determine the ownership structure of some “Invisible PMIs.”

He said, “Having gone through the search, interestingly we were able to trace only seven of them, and we are in the process of commencing liquidation such that the established depositors would be compensated adequately.”

Ibrahim also disclosed that the process of liquidation will prove to be a very difficult exercise because most of the PMIs were not rendering returns to the CBN or NDIC, and that determining the deposit liabilities of those identified institutions is a herculean task.

As part of efforts to reposition the sector, Ibrahim stated that the corporation had mapped out a frame work for possible granting of financial assistance to deserving PMIs and micro-finance banks.

It would be recalled that the CBN in 2012 directed the NDIC to liquidate the assets of 25 Primary Mortgage Institutions considered to be unviable, and a couple of months ago had cause to revoke the licnces of 25 PMIs and asked the NDIC to liquidate whatever remains of them.

The NDIC was established in 1988 to protect depositors and guarantee prompt and efficient settlement of insured funds in the event of failure of insured participating instittuions and the FMBN established in 1956, supplies the mortgage and housing markets with sustainable liquidity for the advancement of home ownership among Nigerians.

 

Corlins Walter

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NPA Assures On Staff Welfare 

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6 days ago

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June 27, 2025

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The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
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ANLCA Chieftain Emerges FELCBA’s VP

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6 days ago

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June 27, 2025

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National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
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NSC, Police Boost Partnership On Port Enforcement 

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6 days ago

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June 27, 2025

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In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
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