Connect with us

News

New Board For Federal Mortgage Bank Inaugurated

Published

on

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.

Advertisement

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.

READ ALSO: UK Boarding School To Accept Bitcoin For Tuition Fees

Advertisement

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.

Advertisement

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.

READ ALSO: Presidency Disowns 2027 Campaign Billboards, Calls For Immediate Halt

Advertisement

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.

Advertisement

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.

READ ALSO: US Man, Akinyela Shot Dead After Hijacking Plane With Passengers On Board

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.

Advertisement

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.”

Advertisement

News

NYSC Deploys 1,900 Corps Members To Bauchi State

Published

on

By

The National Youth Service Corps (NYSC), has deployed 1,900 corps members to Bauchi State for the 2025 Batch ‘B’ Stream II orientation exercise.

Mr Kufre Umoren, NYSC State Coordinator, told journalists on Tuesday in Bauchi, that registration would be conducted from Sept. 24 to Sept. 26, at the NYSC Permanent Orientation Camp, Wailo in Ganjuwa Local Government Area of the state.

He said the swearing-in ceremony of the corps members is billed for Sept. 26, and the orientation exercise would end on Oct. 14.

Advertisement

READ ALSO:NYSC Pays Arrears After Two-month Break

Umoren said each of the corps members would be allowed into the camp after being adequately certified to be genuine graduates.

He said discreet screening of the corps members would be conducted to guard against intrusion or impersonation.

Advertisement

Registration dates have been announced to the corps members, and they are advised to adhere strictly to all camp rules and regulations.

READ ALSO:Release Corps Member’s Discharge Certificate, Falana Tells NYSC

Defaulters will be sanctioned in accordance with the scheme’s extant rules,” he said, warning the scheme frowned at late-night journeys and urged corps members to avoid it for their own safety.

Advertisement

While urging them to be punctual, diligent, and comply with dress code, Umoren warned that defaulting corps members would be sanctioned.

Continue Reading

News

Ife Not Origin Of Yoruba Race, Says Oluwo

Published

on

By

The Oluwo of Iwo in Osun State, Oba Abdulrosheed Akanbi, has disputed the claim that Ile-Ife is the origin of the Yoruba race.

The royal father said the culture of the race is not in the ancient town of Ife, long noted as the origin of the Yoruba people.

Oluwo, who made this known in a video shared on his Facebook page on Tuesday, spoke in his palace while bestowing a chieftaincy title on one of his subjects.

Advertisement

Flanked by his Chiefs, Oluwo said Ife was not the origin of the Yoruba race, adding that people were living in the town before Oduduwa conquered the city and became its ruler.

He said the language spoken in ancient Ife was not the same as the common Yoruba language, restating his readiness to bring back the correct historical accounts of the Yoruba race.

READ ALSO:Tension In Osun Council As Ataoja, Oluwo Battle For Seniority

Advertisement

“Ife is not the origin of the Yoruba race. Those people don’t speak our language. Their language is different. They refer to God as Eledumare, and there is nothing like Eledumare in the Yoruba language. What we have is Olodumare.

“Ife people will always say Olofin, and if you ask them what the meaning is, they will tell you it means the owner of the palace, and what that means in Yoruba is ‘Alaafin’. Ile-Ife has no Yoruba culture.

“I am the ‘Arole Olodumare because I am here to tell you the true history. Iwo is where you can get the real history that was not even documented.

Advertisement

“Whatever I am telling you now, you must keep it because death can come anytime. I am not scared of death because it is inevitable,” Oluwo said in the Yoruba language.

READ ALSO:OPINION: Oluwo And The Glorification Of Ignorance (1)

The origin of the word ‘Yoruba’ often leads to controversy. The most recent one being the face-off involving the Ooni of Ife, Oba Adeyeye Ogunwusi and Alaafin of Oyo, Oba Akeem Owoade, over a Chieftaincy title of Okanlomo of Yorubaland, allegedly bestowed on Ibadan-based businessman, Chief Dotun Sanusi by Ooni.

Advertisement

The PUNCH reports in August that the Ooni had bestowed the title on Sanusi during the unveiling of 2geda, an indigenous social media and business networking platform, at Ilaji Hotel, Ibadan.

But in a statement signed by his media aide, Bode Durojaiye, the Alaafin declared that no traditional ruler other than him has the authority to confer a title covering the entire Yorubaland. He issued a 48-hour ultimatum to the Ooni to revoke the title or “face the consequences.”

READ ALSO:Why I’m Yet To Visit Ooni Of Ife — Alaafin Of Oyo

Advertisement

Reacting to Alaafin’s ultimatum, the Ooni’s spokesperson, Moses Olafare, said the monarch had directed him to ignore the Alaafin’s outburst and leave the matter “in the court of public opinion.”

We can not dignify the ‘undignifyable’ with an official response. We leave the matter to be handled in the public court of opinion, as it is already being treated.

“Let’s rather focus on narratives that unite us rather than the ones capable of dividing us. No press release, please. 48 hours my foot!” he wrote on his Facebook page.
(PUNCH)

Advertisement
Continue Reading

News

Court Remands Man Who Beat Wife In Viral Video

Published

on

By

A 57-year-old sawmiller, Fatai Quadri, who was seen in a viral video assaulting his wife, 50-year-old Rukayat Quadri, was on Monday remanded at the Correctional Centre at Ijebu Ode till October 17 for further hearing into the suit instituted against him by the police before the Ijebu Ode Magistrate Court.

Quadri, according to documents made available to our correspondent on Tuesday during his arraignment, was charged with a count bordering on assault, domestic violence, and breach of peace, among others.

The charge sheet reads “That you Quadri Fatai Abiodun ‘m on the 15/09/2025 at about 0600hrs at No: 11, Bakare Street, Oke-Owa, Ijebu-Ode, Ogun State in the Ijebu-Ode Magisterial District did wilfully and unlawfully assault Mrs Rukayat Quadri 50yrs your wife, by beating her with a stick and several fist blow all over her body, which caused her bodily injuries and thereby committed an offence punishable under Section 355 of the criminal code, Vol.1, Laws of Ogun State of Nigeria, 2006.

Advertisement

“That you Quadri Fatai Abiodun “M’ on the same date, time and place in the aforementioned Magisterial District did unlawfully beat Mrs Rukayat Quadri 50yrs your wife and by so doing committed “Domestic Violence” an offence punishable under Section 21(1) of the Violence Against Persons Prohibition Law, Laws of Ogun State of Nigeria, 2017.

“That you Quadri Fatai Abiodun ‘m’ on the same date, time and place in the aforementioned Magisterial District did unlawfully assault, beat and caused injuries to Mrs Rukayat Quadri 50yrs your wife and thereby committed an offence punishable under section 4(1) of the Violence Against Persons Prohibition Law, Laws of Ogun State of Nigeria, 2017.

READ ALSO:Police Detain Lagos NURTW Leader For Killing Resident

Advertisement

That you Quadri Fatai Abiodun ‘m’ on the same date, time and place in the aforementioned Magisterial District did intentionally intimidated, injured and threatened to the life of Mrs Rukayat Quadri 50yrs your wife not to go on the land you built 10 Rooms and Parlour Self Contains with Other Flats or otherwise and thereby committed an offence Punishable under Section 86 of the Criminal Code Vol. 1, Laws of Ogun State of Nigeria, 2006.

“That you Quadri Fatai Abiodun ‘m’ on the same date, time and place in the aforementioned Magisterial District did willfully and unlawfully conduct yourself in a manner likely to cause the breach of public peace by using a stick with several fist blows to beat and injured Mrs Rukayat Quadri 50yrs your wife and thereby committed an offence punishable under Section 249(1) (d) of the Criminal Code Vol. 1, Laws of Ogun State of Nigeria, 2006”

Magistrate P O Odunsi has, however, adjourned the matter till October 17 for further hearing into the bail application of the suspect.

Advertisement

The Ogun State Police Command had on Saturday confirmed arresting Fatai seen in a viral video violently assaulting his wife, Rukayat, at their residence in Illese-Ijebu on the 15th of September, 2025.

Quadri, who was seen inflicting fist blows on the victim, resulting in bodily harm, was said to have been promptly apprehended by operatives of the Igbeba Divisional Police Headquarters, Ijebu Ode.

READ ALSO:Police Detain Lagos NURTW Leader For Killing Resident

Advertisement

The spokesperson of the state police command, Omolola Odutola, disclosed this in a statement sent to journalists on Saturday.

Odutola said that “Preliminary investigation revealed that the assault stemmed from a marital dispute arising from allegations of infidelity.

“The investigation further indicated that the suspect had transferred ownership of a 10-room en-suite apartment, jointly built with his wife, to another woman, which provoked the violent attack.

Advertisement

“The victim is presently receiving medical treatment, while the suspect remains in custody and will be charged in court upon conclusion of the investigation”

The Commissioner of Police, Lanre Ogunlowo, however, used the opportunity to reiterate the command’s zero tolerance for domestic violence and warned that anyone found culpable of such an act will face the full wrath of the law.

READ ALSO:

Advertisement

Speaking over the incident, the Commissioner for Justice and Attorney General of the state, Oluwasina Ogungbade, SAN described the incident as very reprehensible, saying that the government was unhappy with such criminal acts and that the suspect, who is already in police custody, would be taken to court on Monday.

Ogungbade explained that “the government is aware of the viral video and we condemn it in its totality. The suspect is in police custody already.

“The Commissioner of Police, Lanre Ogunlowo, has been very proactive concerning it.

Advertisement

“The matter is being transferred to the Gender Unit. He will be arraigned in Court on Monday”

The Attorney General said that the state government has always warned against all sorts of criminal acts, particularly gender-based violence and that this particular incident will be another opportunity to drive home the present administration’s posture of zero tolerance to such condemnable acts.

READ ALSO:Court Remands Tiktoker Who Claimed President Tinubu Died

Advertisement

The Commissioner for Women Affairs and Social Development, Adijat Adeleye, also said that she had already briefed one of the state officials to follow up on the incident, pledging that the government would ensure justice is served on the matter.

Adeleye said that “The government is not happy with such criminal acts, our position has always been zero tolerance to gender-based violence. Definitely, the suspect will account for his misdeeds, justice will be served, I assure the residents of the state.

“Already he has been picked up by the police and should be taken to court on Monday; the ministry officials will be there to lend our support and ensure that justice is served.”

Advertisement
Continue Reading

Trending

Exit mobile version