Connect with us

News

Mortgage Bank Increases Housing Loan To N50m

Published

on

The Federal Mortgage Bank of Nigeria, FMBN, has announced an increase in the National Housing Fund mortgage loan limit from N15 million to N50 million per applicant.

Chairman of the Board of Directors of FMBN, Mr Ayodeji Gbeleyi disclosed this during the commissioning ceremony of Staff Lagos State Development and Property Corporation Staff millennium Mission Planning and Control Station Ltd Estate at Emuren axis in Sagamu area of the State.

Gbeleyi said the decision was made in response to requests by the higher income-earning segment of NHF subscribers.

Advertisement

According to him, the increase in the mortgage loan limit demonstrates the FMBN’s commitment to delivering affordable housing to Nigerian workers, especially those in the public and private sectors who are contributors to the NHF Scheme managed by the bank.

READ ALSO: Nigerian Poet, Onuoha Of Labour Party Elected Councillor In UK

His words: “The scheme, established in 1992, enables workers to contribute 2.5% of their monthly income and access loans to cater for their housing finance needs, such as outright purchase, self-construction, home renovation, and rent-to-ownership.

Advertisement

“More recently, the Board of Directors approved an increase in the NHF mortgage loan limit from N15 million to N50million per applicant in response to requests by the higher income earning segment of NHF subscribers.

“The maximum loan limit, however, is subject to affordability based on the monthly development, I want to assure you of the monthly income of an applicant. Notwithstanding,”

On his part, the Managing Director/Chief Executive of FMBN, Madu Hamman, said the 72-unit project was fully funded by FMBN and is in fulfillment of the commitment to the homeownership dreams of Nigerian workers who are contributors to the National Housing Fund (NHF) Scheme.

Advertisement

READ ALSO: Concerns Over N142bn E-customs Contract Approval By Buhari’s Government

He added that the FMBN Cooperative Housing Development Loan Scheme (CHD) funds housing constructions for housing cooperative societies and also funds the acquisition of the houses developed for cooperative members through regular Individual NHF loans.

Also speaking, the Elemuren of Emuren, Oba Adesegun Abolaji, eulogized FMBN and LSDPC for the establishment of the housing estate, which is noted as a great development of Emuren land.

Advertisement

Oba Abolaji promised the community will provide security of lives and properties and 50 more acres of land to support their efforts in bridging the housing gap in the country.

The monarch said: “There are so many things we lack here. Now that you have exposed us to the outer world. We need good roads. As I have said before, we will provide 50 more acres of land, so that the housing project will continue. Housing will not be a problem for anybody.

READ ALSO: Blackout Looms As FG Disconnects Discos From National Grid Over Debt [SEE LIST]

Advertisement

This estate is a beautiful one but I will urge the government to provide us with social amenities, especially good roads. The road is in bad condition. We have everything except good roads.”

Governor Babjide Sanwo-Olu of Lagos State, who was represented by the Permanent Secretary on housing, Kamar Olowoshago, commended FMBN and the Lagos State Development and Property Corporation for their commitment to the advancement of workers’ welfare and delivering the project promptly.

Sanwo-Olu also called for more collaboration with FMBN to bridge the housing deficit gap in the state.

Advertisement

News

‘We Cure Madness With Madness’: Five Things To know About Taye Currency

Published

on

By

The name ‘Taye Currency’ has continued to trend on social media following the Fuji music artiste’s performance at the coronation of the 44th Olubadan of Ibadan, Oba Rashidi Adewolu Ladoja, on Friday.

Taye Currency, during his performance at the coronation event which took place at Mapo Hall in Ibadan, rendered a line in Yoruba, “Were la fi n wo were,” which translates to “we cure madness with madness.”

The line, which seems not to have sat well with many Nigerians, particularly those of Yoruba heritage, has continued to generate a lot of criticism, with many opining that such lyrics were not befitting for the occasion, which had in attendance dignitaries including President Bola Ahmed Tinubu, governors, ministers, traditional rulers, and other crème de la crème of society.

Advertisement

Reacting to the development, the Olu of Kemta Orile in Odeda Local Government Area of Ogun State, Oba Adetokunbo Tejuosho, criticised Taye Currency for what he described as “classless and unbefitting lyrics.”

According to him, the musician failed to accord the coronation its due respect, describing his lyrics as unbefitting of the sacred ceremony.

READ ALSO:Ogun Monarch Slams Taye Currency Over Performance At Olubadan Coronation

Advertisement

He said, “The throne of our ancestors is not a stage for mockery, nor the coronation of a great monarch a subject for careless entertainment.

“Kingship is sacred, adorned with honor and guarded by tradition. It demands reverence, dignity, honor, class and the utmost respect from all who stand in its presence.

“Listening to the musician (Taye Currency), who was invited to render music before the Crown, as a matter of fact before the entire world, to serenade the audience and sing in a way to express admiration, singing songs like (were lafi n wo were) We use madness to cure madness.

Advertisement

“Such lyrics were classless and unbefitting of such occasions, it is insulting to the sacredness of the gathering.”

While Taye Currency is well known among Fuji music lovers, especially those from Ibadan, the Oyo State capital, his performance at the Olubadan coronation has made people want to know more about him.

READ ALSO:BREAKING: Ladoja Crowned 44th Olubadan, Set To Receive Staff Of Office

Advertisement

In this article, Tribune Online takes a look at five things to know about the trending Fuji musician.

1. Full Name and Age

His full name is Taye Akande Adebisi. Apart from his popular stage name, Taye Currency, he is also known as ‘Apesin.’ He celebrated his 50th birthday on December 17, 2024.

Advertisement

2. Appointment as Special Adviser on Culture and Tourism

Oyo State Governor, Seyi Makinde, appointed him as Special Adviser on Culture and Tourism in 2019 during the governor’s first tenure.

READ ALSO:Olubadan Unveils Economic Plan For Ibadanland

Advertisement

3. Father of a Lawmaker

In 2019, Taye Currency’s son, Yusuf Oladeni Adebisi, was elected into the Oyo State House of Assembly to represent Ibadan South-West Constituency 1, which earned Taye Currency another nickname, ’Baba Honorable’ (Honourable’s father). He was re-elected in 2023 as a lawmaker on the platform of the Peoples Democratic Party (PDP).

4. Financial Setback

Advertisement

In April 2025, Taye Currency publicly lamented that he lost N10 million to CBEX, a crypto/investment scheme many now regard as a collapsed Ponzi platform. He explained that he was convinced to invest by close associates, only to see the scheme crumble shortly after.

5. Affiliation with Pasuma

Taye Currency has often maintained that although he never learnt Fuji music from his senior colleague, Wasiu Alabi Odetona, popularly known as Pasuma, whom he first met in 1993, he still considers him a boss.

Advertisement
Continue Reading

News

JUST IN: PENGASSAN Strike May Trigger Nationwide Blackout, Thermal Plants Shut Down

Published

on

By

Nigerians may face a nationwide blackout from Monday as power generation companies have raised the alarm over an imminent shutdown of thermal plants following directives from the Petroleum and Natural Gas Senior Staff Association of Nigeria.

The Executive Secretary of the Association of Power Generating Companies, Joy Ogaji, raised the alarm over the imminent blackout in a WhatsApp message on Sunday.

She revealed that gas suppliers had issued notices to halt supply to thermal power stations in line with PENGASSAN’s strike resolution.

Advertisement

READ ALSO:Why We Rejected Govt’s Plan To Sell Assets – PENGASSAN President

Good day, all. Thermal GenCos have received notification from our gas suppliers to shut down our thermal power plants following directives from PENGASSAN. The Nigerian Gas Infrastructure Company has specifically requested GenCos to comply,” Ogaji said in the post.

She warned that the development could plunge the country into darkness, as hydroelectric dams alone cannot sustain the national grid.

Advertisement

Please all be notified of the imminent darkness, as hydros alone cannot sustain the system,” she added.

READ ALSO:PENGASSAN Shuts OML-18 Over Labour Dispute With NNPC Subsidiary

The warning comes hours after PENGASSAN announced that it would commence a nationwide strike on Monday to protest the dismissal of over 800 workers at the Dangote Petroleum Refinery.

Advertisement

The oil workers’ union, after an emergency National Executive Council meeting on Saturday, directed its members in all oil and gas installations to down tools until the sackings were reversed.

The action could cripple crude production, fuel supply, gas distribution and now electricity generation, worsening the hardship faced by Nigerians.

With thermal stations accounting for more than 70 per cent of Nigeria’s electricity supply, industry experts say the shutdown will trigger widespread outages, stretch hydro plants beyond capacity and heighten the risk of a nationwide system collapse.

Advertisement
Continue Reading

News

Customs Launches One-stop-shop To Cut Cargo Clearance To 48 Hours

Published

on

By

The Nigeria Customs Service (NCS) says it has officially introduced its ‘One-Stop-Shop (OSS)’ initiative aimed at reducing cargo clearance time to 48 hours.

NCS spokesperson, Abdullahi Maiwada, made this known in a statement on Sunday in Abuja.

Maiwada said the initiative was unveiled recently during a meeting between NCS management and Customs Area Controllers, chaired by the Comptroller-General (C-G), Adewale Adeniyi, in Abuja.

Advertisement

He said the meeting deliberated on the service’s modernisation agenda and the role of leadership in driving reforms across commands.

READ ALSO:10 Things Candidates Should Know About Customs Recruitment CBT Exams

Maiwada quoted the C-G as describing the OSS as a “transformative shift” which aligned with global best practices and the Federal Government’s Ease of Doing Business policy.

Advertisement

Adeniyi said the reform was designed to sanitise operations, reduce duplication of efforts and ensure predictability in customs procedures.

The OSS initiative will not only shorten clearance time from 21 days to 48 hours, but it will also strengthen trader confidence, restore transparency and make our operations more business-friendly,” Adeniyi said.

The C-G acknowledged the role of technology in customs operations but also emphasised the importance of physical engagement with officers.

Advertisement

READ ALSO:Customs Seize N905m Rolls Royce, Other Contrabands In Ogun

As much as technology has helped us, it has its limits. There are moments when physical presence, coming together under one roof, adds weight and value to our deliberations,” he said.

The NCS boss said the reform would be piloted at Apapa, Tin Can Island and Onne Ports before being rolled out nationwide.

Advertisement

He added that the initiative was constitutionally supported by the NCS Act 2023 and aligned with the World Trade Organisation’s Trade Facilitation Agreement (TFA).

This is not just a policy. It is a statement of intent that reflects our determination to build a modern, transparent and trader-friendly Customs Service,” he said.

READ ALSO:Customs Intercepts N5.1b Illicit Drugs From India, Canada At Lagos Airport

Advertisement

The spokesperson said that under the OSS framework, all customs units would work jointly on flagged declarations, eliminating multiple checks and reducing delays.

According to him, consignments cleared under the OSS will not be subject to re-interception, thereby reducing costs and enhancing trade facilitation.

He said the meeting also provided a platform to review the NCS accountability framework, including a new central dashboard that tracks clearance times, interventions and stakeholder satisfaction.

Advertisement
Continue Reading

Trending

Exit mobile version