By Mashe Umaru Gwamna
Last week, the Minister of Works and Housing, Babatunde Fashola has inaugurated the newly reconstituted board members of Federal Mortgage Bank of Nigeria (FMBN).
The new board is tasked with the responsibility of completing over 2000 units.
Speaking at the event, the Minister urged the newly inaugurated management of Federal Mortgage Bank of Nigeria (FMBN) to revive the over 2000 abandoned housing projects across the country.
Inaugurating the 21-member board and new management of FMBN on Thursday, in Abuja, the minister charged them to bring their various wealth of experiences to bare in order to reposition the FCMB.
And, my advice is that we are not in our homes; we are in a public space, where we have to work with others in a team to achieve results.
Those other people may not speak like us or dress like us, or even eat what we eat or pray like us. But they are part of us, a part of the diversity that we have been enriched with.
It is not an opportunity for self-help but an opportunity to help others, especially to own a home, by rendering selfless service.
You would help us to solve some of the problems that have to do with access to houses and I want to appeal to you do not become a problem but a problem solver .
“In addition to all your responsibilities, I expect you to quickly advert your attention to the completion of the over 2,000 Housing Units at various levels of completion under the Ministerial Pilot Housing Scheme.
“This houses started with administrations before us but it is yet to be completed,” Fashola said.
The minister further said that a team would be sent to check the level of completion of the houses and the report would be shared with the board.
In addition I expect this Management and Board to bring to a Lawful end, all other ventures into which the Bank has dabbled which are not supported by Law.
“I expect this to happen through due process, supported by Legal consultations, Board debates and decisions and Ministerial or Presidential approvals as may be necessary.
“Your primary mandate is to re-position this Mortgage Bank as the pre-eminent Mortgage Bank for Nigeria as envisioned by the founders”,he stated .
He assured the new management of the support from the ministry.
Fashola told the new board that their four-year term was not guaranteed but subject to performance.
He also emphasized that ,there is diversity of ethnicity, gender and religion in the appointment.
“Every Zone of the 6 Zones in Nigeria is represented and from 1 female member, we now have 3 female members of the Board”.
He said that he would not hesitate to recommend to Mr President to remove any nominee who fell short of a target.
Earlier , The Permanent Secretary of the Ministry, Bashir Alkali appreciated Mr. President for approving the re-constituted new Board and Management of the Bank following the expiration of the tenure of the former Board.
Alkai represented by the Director Overseeing the Office of the Permanent Secretary, Engr. Chukwunwike Uzo said the Federal Mortgage Bank of Nigeria is a critical Agency of Government under the supervision of the Federal Ministry of Works and Housing with the mandate to provide long term credit facilities to mortgage institutions in Nigeria .
He said the bank is to encourage and promote the development of mortgage institutions at the rural, local, State and Federal levels.
Similarly his remarks, the chairman of the board,Ayodeji Ariyo, assured the minister that the board would achieve the goals encapsulated in the National Development Plan 2021 to 2025 which include increasing housing delivering from 5000 to one million.
” So, if the goals are not ambiguous and the key performance indicators are well spelt out in the National Development Plan we will be irrevocably focused on assisting and working with other stakeholders in the industry right from the ministry to other agencies that are in that space of providing housing as well as mortgage creation and ensure that we achieve those key performance indicators encapsulated in National Development Plan 2021 to 2025″ he said.
He assured the ministry of the board meeting up with the huge expectation from Government considering the capacity of members of proven track records of integrity and performance pointing out that members are drawn from Banking sector, diverse ethnicity and gender, he promised not to fail in their responsibilities.
Meanwhile, the newly inaugurated 7-man management board of the FMBN, led by Hamman Madu assured the minister that the management would ensure an effective, efficient and qualitative operation in the next four years as they assume duty.
Madu thanked President Muhammadu Buhari, for appointing them into the exalted position of Nigeria’s apex Mortgage Institution.
“We are humble and excited to be chosen and to undertake the responsibility.
“Housing is one of the basic human needs and to access housing finance is a critical ingredient in achieving the housing needs of all Nigerians,” he said.
He promised on behalf of the Executive Management Team and Board to work harmoniously to reposition the Bank to deliver on its core mandate and meet any emerging challenges.
