The management of Federal Mortgage Bank of Nigeria, FMBN says it has recovered N5.4 billion loan owed to the bank by debtors in the last two years.
The bank also announced that it is working in partnership with the Special Presidential Investigation Panel for the Recovery of Pubic Property in a move that would likely lead to recouping N43billion from the Bank’s debtors within the next 18 months.
The Managing Director of FMBN, Arc. Ahmed Musa Dangiwa, who disclosed this at the 2018 Annual Management Retreat in Kano, added that the bank would be targeting robust capital base of N500 billion when the key amended laws of National Housing Fund, NHF, is assented to by President Muhammadu Buhari.
Dangiwa, who spoke through, Group Head, Corporate Communications, FMBN, Mrs. Zubaida Umar in a statement stated: “The bank has notched significant milestones in its strategic plan to reform and reposition the Institution as a more effective provider of safe, decent and affordable housing for Nigerians despite many challenges”.
The Managing Director specifically revealed at the retreat with the theme “Improved Transaction Turnaround Time: Getting it Done”, that “After twelve years of failed attempts at institutional restructuring, Management’s proactive stakeholder engagement drive has resulted in the successful passage of key amendments to the laws establishing the institution and the National Housing Fund, NHF, by both chambers of the National Assembly.
He said the amended laws, when assented to by the President, would birth a new, more independent and financially stronger FMBN with a robust capital base of N500 billion.
“The additional liquidity and operational flexibility will greatly enhance FMBN’s capacity to more effectively deliver on its mandate to provide access to affordable mortgage finance for home ownership by Nigerian workers,” he said.
Edo Moves To Provide Land For Oil Palm Investors
Edo State Governor, Mr Godwin Obaseki, says the state government has concluded plans to open up about 100, 000 hectares of new land for oil palm investors in the state.
Obaseki made this known during the 2019 Alaghodaro Youth Summit held in Benin to mark his third year in office.
He said: “From next month, we will make available 100,000 hectares of new land for oil palm production to investors.
“Indonesia earns more from oil palm production than crude oil. We are going to make Edo the palm oil hub of Nigeria.
“If we are to be able to cultivate 100,000 hectares of oil palm, we will need a minimum of two or three people to cultivate one hectare of oil palm.
“We will have created about 300,000 jobs from oil palm production alone.”
The governor said that his administration was mapping out the state’s economy and looking at the future through its 30-year development plan to know what to spend money on.
“Our Ossiomo independent power supply would soon be available in the state.
“I cannot guarantee that you will have it in your homes, but I can assure you that you will have it to power the street lights, production centres, offices and business centres in the state.”
Obaseki disclosed that he had created 157,000 jobs in the last three years.
According to him, 45,000 jobs were created through job tracking for organisations, 23,000 through Edo Innovation Programme, 1,300 through food and agriculture, and 16,000 through Edo Production Centre.
The governor added that 12,000 other jobs were created through the National Social Investment Programme, 10,000 through the ministry of wealth creation, and 32,000 from indirect jobs.
Climate Change: Experts Demand More Green Buildings
A lecturer in the Department of Quantity Surveying, Federal University of Technology Akure (FUTA), Mrs Olubunmi Ade-Ojo, has called on government at all levels to be proactive about advocacy for green building, as part of measures to control climate change.
Ade-Ojo made this call on the sidelines of the commemoration of the 2019 70th anniversary of the Nigerian Institute of Town Planners in Akure, yesterday.
She observed that people often believed that the maintenance of a green building was expensive and risky due to infestation of reptiles.
The lecturer explained that the land on which people built their houses and used for other activities was gradually reducing on a daily basis.
She, therefore, called on government to formulate policies that would prevent wastage in the society.
Ade-Ojo, also, admonished policy makers across the country to know the importance of the roles of town planners in Nigeria.
He implored state governments across the country, to embark on a massive campaign to sensitise the people on the need to always consult the Ministry of Physical Planing before erecting building structures.
Also, the Chairman, Nigerian Institute of Town Planner, Ondo State chapter, Mr Omole Kayode, stressed the need for people to recognise the importance of tree planting in their environment, which, he said, could prevent untimely death in the society.
He observed that the environment was now being compressed due to increase in population and buildings among other things.
Omole stressed that the occasion was to educate the public on the danger of climate change and how to proffer lasting solution to it.
College Begins Construction Of N310m Auditorium
The College of Insurance and Financial Management (CIFM), Lagos-Ibadan Expressway yesterday held the Sod Turning Ceremony of its proposed N310 million auditorium to boost infrastructure development.
President, Chartered Insurance Institute of Nigeria (CIIN), Mr Eddie Efekoha, at the ceremony, handed over the project to Acropolis Contractors for completion within the next 12 months.
Efekoha said that the institute would continue to invest in manpower development which is its core mandate to upgrade insurance practice and industry in Nigeria to meet up with global standard.
He urged the contractors to cooperate with the college during the course of the construction, to ensure timely completion of the project.
In his address, Chairman , Governing Council, CIFM, Mr Muftau Oyegunle, said that the college had continued to make tremendous progress in terms of infrastructure development.
“Academically, we are forging ahead, and in terms of infrastructural development, we have continued to make progress,” he said.
Oyegunle commended the CIIN President for carrying out the project during his tenure and also investing in the college.
Rector, CIFM, Mrs Yeside Oyetayo, told newsmen on the sideline of the event that the college was depending on a grant from the National Insurance Commission (NAICOM) and support from other sponsors to fund the project.
Oyetayo said that the 1,650-capacity auditorium was expected to be delivered in the next 12 months.
“The estimate amount for the project is about N310 million with consultancy fee and we expect that it will be delivered in 12 months.
“For now, we are relying on NAICOM grant to fund the project, while expecting that other sponsors would also come up to assist,” she said.
CIFM is a full-fledged college set up by CIIN to undertake its training function.
The College provides in-depth training in insurance, financial management, marketing and other related fields.
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