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New Board For Federal Mortgage Bank Inaugurated
Published
2 months agoon
By
Editor
The Minister of Housing and Urban Development, Ahmed Dangiwa, has formally inaugurated new board members of the Federal Mortgage Bank of Nigeria.
In a statement by the Director Press and Public Relations, Salisu Badamasi, on Monday, the minister charged the new board members with the critical responsibility of repositioning the bank as a cornerstone of Nigeria’s housing finance system under the Renewed Hope Agenda of the Tinubu Administration.
While emphasising the strategic role of the FMBN in delivering affordable housing to Nigerians through the National Housing Fund Scheme, Dangiwa noted that FMBN was not just a lender but a regulator, an innovator, and a builder of housing finance systems.
“Nigerians in both formal and informal employment across the public and private sector can access mortgage loans at rates and terms that no commercial institutions can match
“We are talking about single digit rates of 6 to 7 percent repayment periods of up to 30 years and equity contribution as low as zero to 10 percent. In contrast, commercial banks charge 18 to24 percent interest, require percent 30 percent equity, and offer tenor of 6 to 10 year,” he explained.
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The minister charged the new board with pursuing and achieving seven key strategic priorities.
He reminded them that they were appointed to drive reform, ensure transparency and unlock the full potential of this national institution informing them that their responsibilities and powers are clearly defined in the FMBN Establishment Act, CAP F16, Laws of the Federation of Nigeria.
“The stakes are high, millions of Nigerians are counting on FMBN, and on your leadership to bridge the gap between aspiration and homeownership. The era of business-as-usual is over. This is the time for delivery,” he added.
Dangiwa also commended the current FMBN management for significant strides, including the full implementation of a Core Banking Application system that now enables NHF contributors to register, make contributions, apply for loans, and monitor their accounts entirely online, saying the digital transformation has reduced transaction turnaround time by 40 percent and improved public trust.
According to the statement, the minister further lauded FMBN’s recent achievements which are disbursing over N73 bn in housing finance, supporting over 30,000 beneficiaries, processing N30.7 bn in NHF refunds, mobilising over N203 bn in contributions, registering nearly 374,000 new contributors and recording a N11.58 bn operational surplus (unaudited) for 2024.
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“He also applauded the bank’s collaboration with the Ministry on the Renewed Hope Housing Programme and its introduction of a N100 bn Bankable Off-taker Guarantee as innovative steps toward bridging Nigeria’s housing deficit.
“The minister recalled his previous experience as Managing Director of the Bank, highlighting the structural challenges that have historically hindered its performance. He noted that, upon assuming office as minister, he initiated a comprehensive housing sector reform, including the establishment of a Housing Institutions Reform Task Team. The Task Team’s report includes recommendations to modernise the FMBN and NHF Acts, which the Minister urged the new Board to champion.”
In his address, the Permanent Secretary Ministry of Housing and Urban Development, Dr. Shuaib Belgore, congratulated the newly appointed members of the board, highlighting their professional achievements, integrity, and capacity to offer strategic guidance in a sector as critical as housing and urban development.
Belgore emphasised on the central role of housing in the social and economic stability of a nation, generating employment, building communities, promoting wealth creation, and enhancing dignity.
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“In Nigeria, bridging the housing gap remains a top priority. That is why we view the FMBN not just as a bank, but as a national vehicle for inclusive growth, social protection, and economic opportunity”, he said.
Belgore further expressed the ministry’s commitment to working hand in hand with the board and management to ensure that the bank’s operations are aligned with national housing priorities, as well as ensuring that shared reform efforts remain people focused, sustainable, and transformational.
The statement further listed the newly appointed members of the Federal Mortgage Bank of Nigeria board.
“H.E Nasiru Gawuna – Board Chairman, Shehu Usman Osidi – MD/CEO (FMBN) – Member, Muhammad Sani Abdu -Executive Director/LM&S – Member, Ibidapo Odujokan – Executive Director/Finance and Corporate Service – Member, Chinenye Chinedu Anosike, Executive Director/Business and Portfolio Management – Member, Abimbola Adenike Asein , Non Executive Director – Member, Nura Aliyu Tijjani – Non Executive Director – Member, Abdullahi Hamisu, Non Executive Director – Member, and Momoh Jubril, Non Executive Director – Member.”
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News
17-year-old Nigerian Named World Best In English At 2025 TeenEagle Finals In London
Published
14 hours agoon
August 5, 2025By
Editor
…Outperforms over 20,000 participants from 69 countries
Nafisa Aminu, a 17-year-old student of Tulip International College, Yobe State, has emerged world’s best in English at the 2025 TeenEagle Global Finals.
The 17-year-old was named the World Best in English Language Skills at the 2025 TeenEagle Global Finals held in London, United Kingdom.
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The TeenEagle competition is an internationally recognised contest that tests English proficiency, critical thinking, and communication skills, attracting students from both English-speaking and non-English-speaking nations.
Nafisa’s triumph was confirmed in a statement by the head of her family, Hassan Salifu, who attributed her success to “dedication, discipline, and the enabling support of the state government.”
Representing Nigeria, Nafisa outperformed over 20,000 participants from 69 countries, a historic feat that has thrust her into the global academic spotlight and brought honour to Nigeria.
News
FG Promotes 30 Senior NCoS Officers To Assistant Controller General
Published
14 hours agoon
August 5, 2025By
Editor
The Civil Defence, Correctional, Fire and Immigration Services Board has approved the promotion of 30 senior officers of the Nigerian Correctional Service to the rank of Assistant Controller General of Corrections.
The announcement was made in a press statement signed by the NCoS spokesperson Umar Abubakar, on Tuesday.
“The Civil Defence, Correctional, Fire and Immigration Services Board has approved the promotion of 30 Controllers of Corrections to the prestigious rank of Assistant Controller General of Corrections,” the statement read.
Abubakar noted that the promotions were made in line with CDCFIB’s commitment to “merit-based advancement, professional excellence, and the continuous strengthening of leadership within the Nigerian Correctional Service.”
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“Among the newly promoted officers are twenty-seven general duty officers who have demonstrated exceptional dedication, leadership, and operational competence in various formations across the country.
“In addition, three professional officers have also been elevated in recognition of their outstanding service and specialized contributions in the areas of Medical Laboratory Science, Nursing, and Public Health,” the statement read.
According to the statement, the promotion exercise was said to align with the ongoing reforms in the Service, a key part of President Bola Tinubu’s Renewed Hope Agenda.
The statement credited the reform momentum to the Minister of Interior, Dr. Olubunmi Tunji-Ojo, whose efforts were described as “unwavering” and “unprecedented.”
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Controller General of Corrections, Sylvester Nwakuche, congratulated the newly promoted officers, charging them to rise to the responsibilities of their new roles.
“I urge them to redouble their effort to service delivery, strategic leadership, and the core mandates of reformation, rehabilitation, and reintegration of inmates,” he said.
He further stressed that the promotions are not merely rewards for past service but “a call to higher responsibility in line with global best practices in correctional management.”
“The Service remains committed to building a motivated, disciplined, and professional workforce capable of meeting the complex demands of modern corrections and public safety,” Nwakuche added.

Governor Ademola Adeleke of Osun State has travelled to the United States to attend the wedding ceremony of his nephew and music star, David Adeleke, popularly known as Davido.
Recall, Davido confirmed that he and his wife, Chioma Avril Rowland, will have their white wedding in Miami, Florida, in August 2025.
He made the announcement during an interview on The Breakfast Club, aired on Tuesday, April 8, 2025.
The governor’s spokesperson, Olawale Rasheed, confirmed Adeleke’s trip in a statement issued on Tuesday, in response to concerns raised by the opposition All Progressives Congress over the governor’s whereabouts.
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“Governor Adeleke left Nigeria for the United States via the family’s private jet a few days ago for the wedding of the global music icon, his beloved nephew, David Adeleke.
“His Excellency is extending an invitation to the opposition party to attend the event and share in the joy of the occasion with the Adeleke family.
“Those unable to attend may join virtually,” Rasheed stated.
He noted that Adeleke had not taken any official vacation since assuming office in November 2022 and said the current trip would be short.
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“Additionally, from the November 2022 date, the governor has not gone on official vacation.
“For this current trip, the Governor has again chosen to make it a short one to continually attend to crucial state functions.
“Meanwhile, the Governor is in constant communication with his deputy, Prince Kola Adewusi, who is supervising activities of the government,” Rasheed added.
Earlier on Tuesday, the Osun APC had accused Adeleke of leaving the state without informing residents or formally transmitting power to his deputy. The party described the governor’s absence as “abnormal.”
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In a statement signed by its spokesperson, Kola Olabisi, the party said, “The question being asked in hushed tones in some public places, inside commercial buses and by motorcycle riders and their passengers in the state, is where could be the whereabouts of their governor for this long.
“As the governor of all and sundry, we as a party need to know the whereabouts of the governor and who has been holding fort for him during his absence from the state since two weeks ago.
“Did the governor duly transmit power to his deputy who is constitutionally covered to temporarily step into the shoes of his principal in his absence?”
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