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New Board For Federal Mortgage Bank Inaugurated

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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.

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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.

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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.

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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.

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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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Xenophobic Attacks: Oshiomhole Tells FG To Retaliate Against South African Companies In Nigeria

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Senator Adams Oshiomhole has called on the Federal Government to retaliate against South African businesses operating in Nigeria following the recent attacks on Nigerians in South Africa.

Speaking during plenary on Tuesday, Oshiomhole said the Federal Government should consider revoking the working license of South African owned companies such as MTN and DSTV.

He argued that Nigeria must respond firmly to what he described as persistent hostility against its citizens.

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“I am not going to shed tears. If you hit me, I hit you. I think it is appropriate in diplomacy. It is an economic struggle,” Oshiomhole said.

He argued that while some South Africans accuse Nigerians of taking their jobs, Nigerians should return home and take over employment opportunities created by major South African companies operating in the country, including MTN and DSTV.

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When we hit back, the President of South Africa will not only talk but will also go on his knees to recognise that Nigeria cannot be intimidated.

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We will not condone any life being lost. If a crime has been committed under the South African law they have the right to bring any such person to justice, but to kill our people as if we are helpless, we will not allow that,” Oshiomhole added.

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DAILY POST reports that several Nigerians in South Africa have reportedly been attacked, and their businesses destroyed, in ongoing xenophobic attacks in the country.

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IGP Orders Officers Display Name Tag On Uniform, Gives Update On State Police

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The Inspector General of Police, IGP, Tunji Disu, has ordered all police personnel to always have their name tags on their uniforms for easy identification.

Disu disclosed that only police personnel who are undercover are exempted from displaying their name tags.

Speaking on Tuesday, Disu said: “All police officers should have their name tags. All of us on the high table have our names apart from the undercover among us so if you look at all the Commissioners of Police we have our name tags, so it’s not our standard.

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All the Commissioners of Police are here and that is why we called this meeting, we have list of things like this that we will want to discuss with the Commissioners of Police, we have told them earlier and we will still let them know that every that happens within their area of jurisdiction falls under their control.”

On the issue of state police, the IGP said: “Since we got the signal that the Federal Government of Nigeria intend to establish State Police and since we are the federal police, we decided to take the bull by the horn and put down our own side of what we believe on how the state police should be run.

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“A lot of things were taken into consideration, a lot of comparative analysis was done and it has been transmitted to the National Assembly.”

 

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Court Orders SERAP To Pay DSS Operatives N100m For Defamation

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The High Court of the Federal Capital Territory has ordered a non-governmental organization, the Socio-Economic Rights and Accountability Project, SERAP, to pay N100 million as damaged to two operatives of the Department of the State Services, DSS, for unjustly defaming them in some publications.

The court also ordered SERAP to tender public apologies to the defamed officers,
Sarah John and Gabriel Ogundele, in two national newspapers, two television stations and its website.

Besides, the organization was also ordered to pay the two operatives N1 million as cost of litigation and 10 percent post-judgment interest annually on the judgment sum until it’s fully liquidated.

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Justice Yusuf Halilu of the High Court of the Federal Capital Territory gave the order on Tuesday while delivering judgment in a N5.5 billion defamation suit instituted against SERAP by the DSS operatives.

The judge found SERAP liable for unjustly defaming the two DSS operatives with allegations that they unlawfully invaded its Abuja office, harassed and intimidated its staff, in September 2024.

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In the offending publication on its website and Twitter handle, SERAP alleged that the two operatives unlawfully invaded and occupied its office with sinister motives.

The judge held that the publication was in bad taste especially from an organization established to promote transparency and accountability, as nothing in the publication was found to be truthful.

The DSS staff had listed SERAP as 1st defendant in the suit marked CV/4547/2024. SERAP’s Deputy Director, Kolawole Oluwadare, was listed as the 2nd defendant.

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In the suit, the claimants – Sarah John and Gabriel Ogundele – accused the two defendants of making false claims that they invaded SERAP’s Abuja office on September 9, 2024..

Counsel to the DSS, Oluwagbemileke Samuel Kehinde, had while adopting his final address in the mater urged the judge to grant all the reliefs sought by his client in the interest of justice.

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He admitted that although the names of the two claimants were not mentioned in the defamation materials, they had however established substantial circumstances that they are the ones referred to in the published defamation article by SERAP on its website.

The counsel submitted that all ingredients of defamation have been clearly established and the offending publication referred to the two officials of the secret police.

However, SERAP, through its counsel, Victoria Bassey from Tayo Oyetibo, SAN, law firm, asked the court to dismiss the suit on the ground that the two claimants did not establish that they were the ones referred to in the alleged defamation materials.

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She said that SERAP used “DSS officials” in the alleged offending publication, adding that the two claimants must establish that they are the ones referred to before their case can succeed.

Similar arguments were canvassed by Oluwatosin Adefioye who stood for the second defendant, adding that there was no dispute in the September 9, 2024 operation of DSS in SERAP’s office.

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He said that since SERAP in the publication did not name any particular person, the claimants must plead special circumstances that they were the ones referred to as the DSS officials.

Besides, he said that there is no organization by name Department of State Services in law, hence, DSS cannot claim being defamed adding that the only entity known to law is National Security Agency.

The claimants had in the suit stated that the alleged false claim by SERAP has negatively impacted on their reputation.

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The DSS also stated, in the statement of claim, that, in line with the agency’s practice of engaging with officials of non-governmental organisations operating in the FCT to establish a relationship with their new leadership, it directed the two officials – John and Ogunleye – to visit SERAP’s office and invite them for a familiarization meeting.

The claimants added that in carrying out the directive, John and Ogunleye paid a friendly visit to SERAP’s office at 18 Bamako Street, Wuse Zone 1, Abuja on September 9 and met with one Ruth, who upon being informed about the purpose of the visit, claimed that none of SERAP’s management staff was in the country and advised that a formal letter of invitation be written by the DSS.

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John and Ogundele, who claimed that their interactions with Ruth were recorded, said before they immediately exited SERAP’s office, Ruth promised to inform her organisation’s management about the visit and volunteered a phone number – 08160537202.

They said it was surprising that, shortly after their visit, SERAP posted on its X (Twitter) handle – @SERAPNigeria – that officers of the DSS are presently unlawfully occupying its office.

The claimant added, “On the same day, the defendants also published a statement on SERAP’s website, which was widely reported by several media outfits, falsely alleging that some officers from the DSS, described as “a tall, large, dark-skinned woman” and “a slim, dark skinned man,” invaded their Abuja office and interrogated the staff of the first defendant (SERAP).

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John and Ogundele stated that “due to the false statements published by the defendants, the DSS has been ridiculed and criticised by international agencies such as the Amnesty International and prominent members of the Nigerian society, such as Femi Falana (SAN)”.

“Due to the false statements published by the defendants, members of the public and the international community formed the opinion that the Federal Government is using the DSS to harass the defendants.”

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They added that the defendants’ statements caused harm to their reputation because the staff and management of the DSS have formed the opinion that the claimants did not follow orders and carried out an unsanctioned operation and are therefore, incompetent and unprofessional.

The claimants therefore prayed the court for the following reliefs: “An order directing the defendants to tender an apology to the claimants via the first defendant’s (SERAP’s) website, X (twitter) handle, two national daily newspapers (Punch and Vanguard) and two national news television stations (Arise Television and Channels Television) for falsely accusing the claimants of unlawfully invading the first defendant’s office and interrogating the first defendant’s staff.

“An order directing the defendants to pay the claimants the sum of N5 billion as damages for the libellous statements published about the claimants.

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“Interest on the sum of N5b at the rate of 10 percent per annum from the date of judgment until the judgment sum is realised or liquidated.

“An order directing the defendants to pay the claimants the sum of N50 million as costs of this action.”

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