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	<title>NSITF - Housing TV Africa</title>
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	<description>24/7 Breaking News, Housing News, Real Estate News, Mortgage News, Construction news, Property News</description>
	<lastBuildDate>Thu, 10 Sep 2026 06:07:07 +0000</lastBuildDate>
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	<title>NSITF - Housing TV Africa</title>
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	<item>
		<title>NSITF, Housing Ministry Give Fresh Update on Workers’ Compensation, Housing in Benue</title>
		<link>https://www.housingtvafrica.com/nsitf-housing-ministry-give-fresh-update-on-workers-compensation-housing-in-benue/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=nsitf-housing-ministry-give-fresh-update-on-workers-compensation-housing-in-benue</link>
		
		<dc:creator><![CDATA[Taiwo]]></dc:creator>
		<pubDate>Thu, 10 Sep 2026 06:07:07 +0000</pubDate>
				<category><![CDATA[Housing News]]></category>
		<category><![CDATA[Benue]]></category>
		<category><![CDATA[Employee Compensation Scheme]]></category>
		<category><![CDATA[Federal Government]]></category>
		<category><![CDATA[HOUSING DEFICIT]]></category>
		<category><![CDATA[Housing Ministry]]></category>
		<category><![CDATA[Nigeria news]]></category>
		<category><![CDATA[NSITF]]></category>
		<category><![CDATA[Occupational Safety]]></category>
		<category><![CDATA[Workers Compensation]]></category>
		<guid isPermaLink="false">https://www.housingtvafrica.com/?p=37290</guid>

					<description><![CDATA[<p><img width="1080" height="1080" src="https://www.housingtvafrica.com/wp-content/uploads/2026/09/IMG_7517.jpeg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" /></p>
<p>The Nigeria Social Insurance Trust Fund (NSITF) and the Federal Ministry of Housing and Urban Development have sensitised heads of federal establishments in Benue State on workers’ compensation, occupational safety and health, affordable housing and sustainable urban development. The sensitisation took place on Tuesday, September 8, 2026, during a meeting of the Association of Heads [&#8230;]</p>
<p>The post <a href="https://www.housingtvafrica.com/nsitf-housing-ministry-give-fresh-update-on-workers-compensation-housing-in-benue/">NSITF, Housing Ministry Give Fresh Update on Workers’ Compensation, Housing in Benue</a> appeared first on <a href="https://www.housingtvafrica.com">Housing TV Africa</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><img width="1080" height="1080" src="https://www.housingtvafrica.com/wp-content/uploads/2026/09/IMG_7517.jpeg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" /></p><p>The Nigeria Social Insurance Trust Fund (NSITF) and the Federal Ministry of Housing and Urban Development have sensitised heads of federal establishments in Benue State on workers’ compensation, occupational safety and health, affordable housing and sustainable urban development.</p>
<p>The sensitisation took place on Tuesday, September 8, 2026, during a meeting of the Association of Heads of Federal Establishments (AHFE) in Makurdi.</p>
<p>The NSITF presentation was delivered by the Branch Manager of the NSITF Makurdi Branch, Mr Msugh Echono, who explained the agency’s mandate under the Employee Compensation Act (ECA) 2010.</p>
<p><strong>NSITF explains compensation scheme</strong></p>
<p>Echono said the Employee Compensation Scheme (ECS) provides fair, adequate and sustainable compensation to workers who suffer work-related accidents, injuries, disabilities or death.</p>
<p>According to him, the scheme is mandatory and covers workers in both the public and private sectors, except military and paramilitary personnel.</p>
<p>He said employers are required to contribute one per cent of their employees’ total emoluments to the scheme.</p>
<p>Employers must also notify NSITF of workplace incidents or accidents that could result in compensation claims.</p>
<p>Echono listed benefits under the scheme to include compensation for injuries and disabilities, occupational diseases, exposure to harmful chemicals, hearing impairment and mental stress, subject to the provisions of the law.</p>
<p>He added that beneficiaries could access non-cash benefits such as vocational rehabilitation, counselling and artificial limbs where necessary.</p>
<p><strong>NSITF gives workers 21-day claims advice</strong></p>
<p>On claims, Echono advised employees to report workplace incidents within 21 days, either through their employers or directly to NSITF.</p>
<p>He said affected workers should provide medical evidence of their injuries or diseases and submit claims using designated forms at any NSITF branch office.</p>
<p>He also disclosed that a help desk had been established at the Office of the Head of the Civil Service of the Federation (OHCSF) to support and protect injured federal workers.</p>
<p>Echono urged federal establishments to comply with occupational safety and health standards, warning that violations of the Employee Compensation Scheme could attract penalties and fines.</p>
<p><strong>Housing Ministry addresses Nigeria’s housing deficit</strong></p>
<p>In a separate presentation, the Controller of the Federal Ministry of Housing and Urban Development, Benue State Field Headquarters, Makurdi, Engr. Edwin Gyenger, highlighted the importance of affordable and decent housing to human development.</p>
<p>Gyenger said Nigeria’s housing deficit had been officially put at 14.925 million housing units, based on figures referenced from the National Housing Data Technical Committee involving the National Population Commission and the National Bureau of Statistics.</p>
<p>He clarified that the housing deficit was not simply a shortage of buildings but a shortage of decent and affordable housing for Nigerians.</p>
<p>According to him, successive administrations have introduced programmes to address the challenge, including the Site and Services Scheme, Shagari Low-Cost Housing Programme, National Housing Fund, monetisation policy, National Housing Programme and Renewed Hope Housing Estate.</p>
<p>Gyenger said the Federal Ministry of Housing and Urban Development is responsible for formulating and implementing policies, programmes and projects relating to affordable housing and sustainable urban development.</p>
<p>He listed the ministry’s responsibilities to include providing access to affordable housing and rental schemes, housing policy formulation, urban planning, land administration, sustainable human settlements and urban renewal.</p>
<p>The ministry also supervises agencies involved in mortgage financing and enforces physical planning standards, he added.</p>
<p>Gyenger said the ministry provides professional consultancy services to federal Ministries, Departments and Agencies and maintains federal government public buildings.</p>
<p>The sensitisation was organised to improve awareness among federal establishments about workers’ welfare, statutory obligations, occupational safety, housing policies and sustainable development.</p>
<p>The post <a href="https://www.housingtvafrica.com/nsitf-housing-ministry-give-fresh-update-on-workers-compensation-housing-in-benue/">NSITF, Housing Ministry Give Fresh Update on Workers’ Compensation, Housing in Benue</a> appeared first on <a href="https://www.housingtvafrica.com">Housing TV Africa</a>.</p>
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			</item>
		<item>
		<title>Afriland Towers Tragedy: NSITF Pledges Swift Compensation for Victims’ Families</title>
		<link>https://www.housingtvafrica.com/afriland-towers-tragedy-nsitf-pledges-swift-compensation-for-victims-families/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=afriland-towers-tragedy-nsitf-pledges-swift-compensation-for-victims-families</link>
		
		<dc:creator><![CDATA[housingtv]]></dc:creator>
		<pubDate>Mon, 13 Oct 2025 10:39:25 +0000</pubDate>
				<category><![CDATA[Housing News]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[Afriland Towers fire]]></category>
		<category><![CDATA[compensation for victims]]></category>
		<category><![CDATA[employee benefits]]></category>
		<category><![CDATA[Employees’ Compensation Scheme]]></category>
		<category><![CDATA[FIRS]]></category>
		<category><![CDATA[Lagos fire incident]]></category>
		<category><![CDATA[Nigerian workers]]></category>
		<category><![CDATA[NSITF]]></category>
		<category><![CDATA[NSITF response]]></category>
		<category><![CDATA[social security Nigeria]]></category>
		<category><![CDATA[United Capital Plc]]></category>
		<category><![CDATA[worker protection Nigeria]]></category>
		<category><![CDATA[workplace safety]]></category>
		<guid isPermaLink="false">https://www.housingtvafrica.com/?p=26629</guid>

					<description><![CDATA[<p><img width="474" height="203" src="https://www.housingtvafrica.com/wp-content/uploads/2025/10/OIP-4.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" /></p>
<p>In the aftermath of the tragic fire at Afriland Towers on September 16, which claimed ten lives and left several others injured, the Nigeria Social Insurance Trust Fund (NSITF) has pledged to expedite compensation payments to the victims’ families and the injured. During a condolence visit to the Federal Inland Revenue Service (FIRS) office in [&#8230;]</p>
<p>The post <a href="https://www.housingtvafrica.com/afriland-towers-tragedy-nsitf-pledges-swift-compensation-for-victims-families/">Afriland Towers Tragedy: NSITF Pledges Swift Compensation for Victims’ Families</a> appeared first on <a href="https://www.housingtvafrica.com">Housing TV Africa</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><img width="474" height="203" src="https://www.housingtvafrica.com/wp-content/uploads/2025/10/OIP-4.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" loading="lazy" /></p><p data-start="200" data-end="485"><strong>In the aftermath of the tragic fire at Afriland Towers on September 16, which claimed ten lives and left several others injured, the Nigeria Social Insurance Trust Fund (NSITF) has pledged to expedite compensation payments to the victims’ families and the injured.</strong></p>
<p data-start="487" data-end="781">During a condolence visit to the Federal Inland Revenue Service (FIRS) office in Ikoyi, Lagos, as well as to United Capital Plc and the bereaved families, the NSITF reaffirmed its commitment to ensuring that all claims under the Employees’ Compensation Scheme (ECS) are processed without delay.</p>
<p data-start="783" data-end="1289">The delegation, led by Mr. Abdullateef Musa, General Manager of Compliance, who represented the Managing Director and Chief Executive, Barrister Olúwaseun Faleye, extended the Fund’s condolences. He stated that the NSITF stands in solidarity with the affected institutions and families, and reaffirmed the Fund’s statutory role in delivering social security to Nigerian workers. He assured those present that all benefits due to the dependents of the deceased would be processed promptly and transparently.</p>
<p data-start="1291" data-end="1603">Musa acknowledged the deep impact of the incident not only on the organizations involved but also on the bereaved families, colleagues, and the wider workforce community. While emphasizing that the loss of life is irreplaceable, he underscored the Fund’s resolve to support and stand by the families left behind.</p>
<p data-start="1605" data-end="1979">At FIRS, Assistant Director Mr. Innocent Ugwuoke expressed appreciation for the NSITF’s quick response and ongoing support. He noted that the Employees’ Compensation Scheme had proven to be a vital safety net during emergencies such as this and called for greater public awareness about the scheme so that more employers and workers understand its significance and benefits.</p>
<p data-start="1981" data-end="2311">A similar sentiment was echoed during the visit to United Capital Plc, where the company’s Director of Human Resources, Oluseye Komolafe, commended the NSITF for its efficient handling of the situation. He praised the scheme’s structure and the professionalism of the Fund, describing its support as both timely and compassionate.</p>
<p data-start="2313" data-end="2558">The fire, which engulfed Afriland Towers on September 16, 2025, led to the deaths of four FIRS employees and six staff members of United Capital Plc. The incident has raised fresh concerns around workplace safety and employee welfare in Nigeria.</p>
<p data-start="2560" data-end="2798">The NSITF has reiterated its readiness to work closely with all affected parties to ensure that compensation is disbursed quickly and fairly, in keeping with its broader mandate to provide social protection for workers across the country.</p>
<p>The post <a href="https://www.housingtvafrica.com/afriland-towers-tragedy-nsitf-pledges-swift-compensation-for-victims-families/">Afriland Towers Tragedy: NSITF Pledges Swift Compensation for Victims’ Families</a> appeared first on <a href="https://www.housingtvafrica.com">Housing TV Africa</a>.</p>
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			</item>
		<item>
		<title>Housing Loan Scheme Out of Reach for Many Federal Workers &#8211; FG</title>
		<link>https://www.housingtvafrica.com/federal-workers-struggle-fg-housing-loan/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=federal-workers-struggle-fg-housing-loan</link>
		
		<dc:creator><![CDATA[housingtv]]></dc:creator>
		<pubDate>Mon, 01 Sep 2025 07:16:18 +0000</pubDate>
				<category><![CDATA[Housing News]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[civil servants]]></category>
		<category><![CDATA[federal workers]]></category>
		<category><![CDATA[FG housing loan]]></category>
		<category><![CDATA[Housing Scheme]]></category>
		<category><![CDATA[mortgage institutions]]></category>
		<category><![CDATA[NHIA]]></category>
		<category><![CDATA[NSITF]]></category>
		<category><![CDATA[Welfare]]></category>
		<guid isPermaLink="false">https://www.housingtvafrica.com/?p=25431</guid>

					<description><![CDATA[<p><img width="474" height="479" src="https://www.housingtvafrica.com/wp-content/uploads/2025/09/OIP-32-e1756710950812.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" loading="lazy" /></p>
<p>Despite efforts to expand its housing loan scheme, the Federal Government says a large number of civil servants remain unable to access the facility. Hajiya Ahmed, Executive Secretary of the Federal Government Staff Housing Loans Board, described the trend as worrisome. She explained that financial pressures and existing commitments have continued to limit eligibility for [&#8230;]</p>
<p>The post <a href="https://www.housingtvafrica.com/federal-workers-struggle-fg-housing-loan/">Housing Loan Scheme Out of Reach for Many Federal Workers &#8211; FG</a> appeared first on <a href="https://www.housingtvafrica.com">Housing TV Africa</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><img width="474" height="479" src="https://www.housingtvafrica.com/wp-content/uploads/2025/09/OIP-32-e1756710950812.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" loading="lazy" /></p><p data-start="728" data-end="879"><strong>Despite efforts to expand its housing loan scheme, the Federal Government says a large number of civil servants remain unable to access the facility.</strong></p>
<p data-start="881" data-end="1121">Hajiya Ahmed, Executive Secretary of the Federal Government Staff Housing Loans Board, described the trend as worrisome. She explained that financial pressures and existing commitments have continued to limit eligibility for many workers.</p>
<p data-start="1123" data-end="1351">At the Permanent Secretaries’ Quarterly Forum with Union Leaders, Ahmed revealed that the board had raised its loan ceiling to ₦20 million for senior staff and introduced a special package for officers on Grade Levels 8 to 14.</p>
<p data-start="1353" data-end="1509">She further disclosed that partnerships with mortgage banks and private developers were being pursued to make home ownership easier for federal employees.</p>
<p data-start="1511" data-end="1785">Declaring the forum open, Patience Onyekunle, Permanent Secretary, Service Welfare Office, said the engagement was designed to foster dialogue between the government and unions. She noted that sustained discussions help improve welfare, industrial peace, and productivity.</p>
<p data-start="1787" data-end="2004">Onyekunle listed ongoing initiatives under the Federal Civil Service Strategy and Implementation Plan (2021–2025), including group life assurance, a ₦750 billion pension bond, and welfare reforms to support workers.</p>
<p data-start="2006" data-end="2174">The Nigerian Social Insurance Trust Fund (NSITF) also announced plans to digitise its claims process, ensuring faster compensation for workplace accidents and deaths.</p>
<p data-start="2176" data-end="2386">Union leaders welcomed the initiatives but pressed for reforms in the National Health Insurance Authority (NHIA). They stressed that delays and bottlenecks discourage workers from seeking timely medical care.</p>
<p>The post <a href="https://www.housingtvafrica.com/federal-workers-struggle-fg-housing-loan/">Housing Loan Scheme Out of Reach for Many Federal Workers &#8211; FG</a> appeared first on <a href="https://www.housingtvafrica.com">Housing TV Africa</a>.</p>
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			</item>
		<item>
		<title>Abuja Land Dispute Deepens as NLC, NSITF Engage in Fierce Standoff Over Ownership Claims</title>
		<link>https://www.housingtvafrica.com/abuja-land-dispute-nlc-nsitf/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=abuja-land-dispute-nlc-nsitf</link>
		
		<dc:creator><![CDATA[housingtv]]></dc:creator>
		<pubDate>Sat, 12 Jul 2025 10:23:09 +0000</pubDate>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Abuja]]></category>
		<category><![CDATA[nlc]]></category>
		<category><![CDATA[NSITF]]></category>
		<guid isPermaLink="false">https://www.housingtvafrica.com/?p=24000</guid>

					<description><![CDATA[<p><img width="2048" height="1368" src="https://www.housingtvafrica.com/wp-content/uploads/2025/07/IMG_6371.jpeg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" loading="lazy" /></p>
<p>A fresh controversy has erupted in the nation’s capital as the Nigeria Labour Congress (NLC) and the Nigeria Social Insurance Trust Fund (NSITF) lock horns over the ownership of two prime plots of land in Abuja. Tensions flared following a public notice issued by the NSITF on Thursday, July 10, 2025. In the announcement, signed [&#8230;]</p>
<p>The post <a href="https://www.housingtvafrica.com/abuja-land-dispute-nlc-nsitf/">Abuja Land Dispute Deepens as NLC, NSITF Engage in Fierce Standoff Over Ownership Claims</a> appeared first on <a href="https://www.housingtvafrica.com">Housing TV Africa</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><strong>A fresh controversy has erupted in the nation’s capital as the Nigeria Labour Congress (NLC) and the Nigeria Social Insurance Trust Fund (NSITF) lock horns over the ownership of two prime plots of land in Abuja.</strong></p>
<p>Tensions flared following a public notice issued by the NSITF on Thursday, July 10, 2025. In the announcement, signed by its Managing Director and Chief Executive Officer, Oluwaseun Faleye, the agency declared key land documents including the Certificate of Occupancy, Power of Attorney, and Deed of Assignment as missing. These documents pertain to Plots MISC 54707 and MISC 54824, which NSITF claims belong to its management board.</p>
<p>The Fund cautioned the public, along with relevant authorities such as the Federal Capital Territory Administration (FCTA) and the Abuja Geographic Information Systems (AGIS), against engaging with any individual or entity in possession of the original documents.</p>
<p>Reacting sharply, the NLC dismissed NSITF’s notice as “mischievous,” “absurd,” and “a display of ignorance.” In a strongly worded statement signed by its President, Comrade Joe Ajaero, the Congress asserted that it holds both the legal and physical rights to the disputed plots.</p>
<p>“We consider this publication either a mischievous act, a ridiculous assertion, or perhaps an expression of sheer ignorance,” Ajaero stated. “These plots have always belonged to the Nigeria Labour Congress, remain the property of the Congress, and will continue to do so.”</p>
<p><a href="http://www.africahousingshow.com"><img loading="lazy" loading="lazy" decoding="async" class="alignnone size-full wp-image-21824" src="https://www.housingtvafrica.com/wp-content/uploads/2025/05/1746455927023-300x300-1.jpg" alt="AIHS" width="300" height="300" srcset="https://www.housingtvafrica.com/wp-content/uploads/2025/05/1746455927023-300x300-1.jpg 300w, https://www.housingtvafrica.com/wp-content/uploads/2025/05/1746455927023-300x300-1-150x150.jpg 150w" sizes="auto, (max-width: 300px) 100vw, 300px" /></a></p>
<p>The NLC further clarified that it is in actual possession of the land and, therefore, holds undisputed proprietary and possessory rights. Ajaero emphasized that it is legally untenable to declare as lost documents pertaining to property one does not own or occupy.</p>
<p>While the Congress has called on NSITF to immediately retract its notice, it indicated that no legal action would be pursued at this time, describing its position as a “measured response” to avoid escalating the dispute further.</p>
<p>Nevertheless, Ajaero urged NSITF to consult both the NLC and Trustfund Pensions to ascertain the true ownership status of the plots. The Congress also appealed to the general public and all relevant land authorities to disregard NSITF’s publication entirely.</p>
<p>“The FCTA, AGIS, and all other statutory bodies involved in land administration should treat NSITF’s notice as null and void,” the statement concluded.</p>
<p>In a swift rebuttal, the NSITF reiterated its claim to the plots. In a counter-release signed by its Head of Corporate Affairs, Alexandra Mede, the Fund stood by its initial position and expressed confidence that the matter would be resolved through due legal processes.</p>
<p>“The NSITF has taken note of the NLC’s reaction but reaffirms its earlier stance,” the statement read. “We trust that the appropriate authorities will address the issue in accordance with the law.”</p>
<p>As both parties dig in, the ownership tussle has set the stage for what may become a prolonged legal and administrative battle over highly coveted Abuja land.</p>
<p>The post <a href="https://www.housingtvafrica.com/abuja-land-dispute-nlc-nsitf/">Abuja Land Dispute Deepens as NLC, NSITF Engage in Fierce Standoff Over Ownership Claims</a> appeared first on <a href="https://www.housingtvafrica.com">Housing TV Africa</a>.</p>
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		<item>
		<title>National Assembly Committees on Housing Commend FMBN, Pledge Support for Bank&#8217;s Initiatives</title>
		<link>https://www.housingtvafrica.com/national-assembly-committees-on-housing-commend-fmbn-pledge-support-for-banks-initiatives/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=national-assembly-committees-on-housing-commend-fmbn-pledge-support-for-banks-initiatives</link>
		
		<dc:creator><![CDATA[housingtv]]></dc:creator>
		<pubDate>Wed, 20 Dec 2023 18:11:48 +0000</pubDate>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Balele]]></category>
		<category><![CDATA[CORE Banking Platform]]></category>
		<category><![CDATA[DigitALL]]></category>
		<category><![CDATA[Housing]]></category>
		<category><![CDATA[Housing and Urban Development]]></category>
		<category><![CDATA[MADU HAMMAN]]></category>
		<category><![CDATA[NSITF]]></category>
		<category><![CDATA[Oracle 12C]]></category>
		<guid isPermaLink="false">https://www.housingtvafrica.com/?p=3814</guid>

					<description><![CDATA[<p><img width="1060" height="744" src="https://www.housingtvafrica.com/wp-content/uploads/2023/12/WhatsApp-Image-2023-12-20-at-6.26.16-PM.jpeg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="FMBN" decoding="async" loading="lazy" /></p>
<p>The Senate Committee on Lands, Housing and Urban Development and House Committee on Housing and Habitat have resolved to throw their weight behind the management of the Federal Mortgage Bank of Nigeria (FMBN) in its efforts to provide Nigerians with affordable housing. The Committees expressed this position during an oversight visit to the FMBN on [&#8230;]</p>
<p>The post <a href="https://www.housingtvafrica.com/national-assembly-committees-on-housing-commend-fmbn-pledge-support-for-banks-initiatives/">National Assembly Committees on Housing Commend FMBN, Pledge Support for Bank&#8217;s Initiatives</a> appeared first on <a href="https://www.housingtvafrica.com">Housing TV Africa</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<h4 class="wp-block-heading" id="h-the-senate-committee-on-lands-housing-and-urban-development-and-house-committee-on-housing-and-habitat-have-resolved-to-throw-their-weight-behind-the-management-of-the-federal-mortgage-bank-of-nigeria-fmbn-in-its-efforts-to-provide-nigerians-with-affordable-housing">The Senate Committee on Lands, Housing and Urban Development and House Committee on Housing and Habitat have resolved to throw their weight behind the management of the Federal Mortgage Bank of Nigeria (FMBN) in its efforts to provide Nigerians with affordable housing.</h4>



<p class="wp-block-paragraph">The Committees expressed this position during an oversight visit to the FMBN on Tuesday, December 19, 2023, presided over by the Chairman, Senate Committee on Lands, Housing and Urban Development, Senator Aminu Tambuwal. The visit presented a forum to familiarise with the activities of the bank and identify ways of supporting FMBN in its mandate of providing affordable housing for all Nigerians.</p>



<p class="wp-block-paragraph">Senator Tambuwal affirmed the pleasure of the lawmakers in carrying out what he described as &#8220;a constitutional calling&#8221; of the National Assembly. He revealed that the two committees will work together, drawing on the inputs from the visit, to conclude on the 2024 budget.</p>



<p class="wp-block-paragraph">&#8220;We are in the process of considering the 2024 budget estimates submitted by President Bola Tinubu and are aware of the provision of mortgage funding of 80 billion in the budget. We believe that working with you, we will get to understand how better to apply the funds, ensuring that these provisions by the President and Executive are fully utilised for the common good of Nigerians,&#8221; he said.</p>



<p class="wp-block-paragraph">Delivering a brief on the key performance of FMBN in the management of the National Housing Fund (NHF) since inception, the Managing Director and Chief Executive, Madu Hamman, outlined the achievements of the bank, noting that it has recorded milestone successes in the area of projects recovery and automation of business processes.</p>



<p class="wp-block-paragraph">Madu explained that the FMBN has completed the Oracle 12C database software solution, launched DigitALL for transparency and accountability, and is at the verge of completing the CORE Banking Platform for operational efficiency and effectiveness. All these projects, he noted, are targeted at improving service delivery in the area of housing to Nigerians.</p>



<p class="wp-block-paragraph">The Managing Director further elaborated on FMBN&#8217;s progress towards improving turnaround time by reducing the NHF refund process from an average of 6-12 months to within the mandatory period of 90 days. The bank also recorded remarkable improvement in NHF compliance by states, with the exception of Oyo, Imo and Bauchi States. He noted that the bank is currently engaging with the Governments of the three states to resume compliance.</p>



<figure class="wp-block-image size-large"><img loading="lazy" loading="lazy" decoding="async" width="1024" height="509" src="https://www.housingtvafrica.com/wp-content/uploads/2023/12/WhatsApp-Image-2023-12-20-at-6.27.22-PM-1024x509.jpeg" alt="" class="wp-image-3816" srcset="https://www.housingtvafrica.com/wp-content/uploads/2023/12/WhatsApp-Image-2023-12-20-at-6.27.22-PM-1024x509.jpeg 1024w, https://www.housingtvafrica.com/wp-content/uploads/2023/12/WhatsApp-Image-2023-12-20-at-6.27.22-PM-300x149.jpeg 300w, https://www.housingtvafrica.com/wp-content/uploads/2023/12/WhatsApp-Image-2023-12-20-at-6.27.22-PM-768x382.jpeg 768w, https://www.housingtvafrica.com/wp-content/uploads/2023/12/WhatsApp-Image-2023-12-20-at-6.27.22-PM-860x428.jpeg 860w, https://www.housingtvafrica.com/wp-content/uploads/2023/12/WhatsApp-Image-2023-12-20-at-6.27.22-PM.jpeg 1080w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></figure>



<p class="wp-block-paragraph">Another area of focus of the presentation was the operational performance of the bank and its loan performance from inception in 1992 to November 2023, indicating a track record of continuous growth, notwithstanding the current challenges confronting the bank.</p>



<p class="wp-block-paragraph">He explained that &#8220;the Bank&#8217;s current capital base of N5 billion was approved in 2001 with the Federal Government, the Central Bank and Nigeria Social Investment Trust Fund (NSITF) as shareholders.&#8221; He however noted that only the Federal Government has fully subscribed its share of N2.5 billion while the CBN paid N60 million out of the alloted 30 percent (N1.5 billion). &#8220;The NSITF is yet to redeem any portion of its 20 percent shareholding of N1 billion,&#8221; he disclosed.</p>



<p class="wp-block-paragraph">The Managing Director further cited the challenges of reviewing the legal framework guiding the operations of the bank, noting that existing laws do not reflect current realities and therefore stall the bank&#8217;s operations. He stated that it is in the efforts to address the challenge of operationalising the Land Use Act that the Honourable Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, is working towards establishing the National Land Commission.</p>



<p class="wp-block-paragraph">Mr. Madu therefore sought for an increase in the current capital base of the bank to the minimum of N500 billion and appealed for accelerated action in the review of the FMBN, NHF and Land Use Acts.</p>



<p class="wp-block-paragraph">Also speaking, Vice Chairman, Senate Committee on Lands, Housing and Urban Development, Senator Victor Umeh, recommended exploring the possibility of engaging the CBN to redeem its outstanding payment of the shareholding allotment. He also asked the FMBN Managing Director to spell out areas of the Land Use Act that need to be reviewed to enable the Committee swing into immediate action.</p>



<p class="wp-block-paragraph">In his remarks, Chairman, House Committee on Housing and Habitat, Hon. Aminu Balele, appreciated the Managing Director of FMBN for the explicit presentation, acknowledging that the National Assembly is aware of the challenges facing the bank.<br>Balele expressed the decision of the National Assembly committees to work together to address the issue of recapitalisation and the review of the laws guiding the bank&#8217;s operations. He re-echoed Senator Tambuwal&#8217;s words that the committees will work hand in hand with the various sub-committees to address the identified issues</p>



<p class="wp-block-paragraph"><a href="https://africahousingnews.com">Source</a>: AfricaHousingNews</p>
<p>The post <a href="https://www.housingtvafrica.com/national-assembly-committees-on-housing-commend-fmbn-pledge-support-for-banks-initiatives/">National Assembly Committees on Housing Commend FMBN, Pledge Support for Bank&#8217;s Initiatives</a> appeared first on <a href="https://www.housingtvafrica.com">Housing TV Africa</a>.</p>
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