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FMBN Inaugurates Task Teams for Loan Recovery Nationwide

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 The Federal Mortgage Bank of Nigeria (FMBN) on Monday inaugurated seven specialised task teams to recover all the bank’s Non-Performing Loans (NPLs) nationwide.

While inaugurating the teams in Abuja, Chief Executive Officer/Managing Director of the bank, Shehu Osidi, said the move was to reduce non-performing loans.

Osidi said the move became expedient to safeguard the bank’s financial interests and sustain its lending operations.

He said that over the years, FMBN had played a crucial role in providing affordable housing finance to Nigerians, hence contributing significantly to advancing the national housing agenda and promoting the home ownership scheme.

“However, the sustainability of these efforts hinges on our ability to recover loans effectively and reinvest them in future projects; unfortunately, the bank has performed poorly in this regard.

“Loan recovery is a critical component of our financial management strategy.

“This is to ensure that funds are available for disbursement to new beneficiaries while maintaining the integrity of our lending operations.

“Regardless of the successes recorded in our home delivery efforts, we must acknowledge the enormous challenges we face with our non-performing loans.

“While some of the non-performing loans are due to infractions from external parties and factors, a huge chunk of blame also lies with us as internal stakeholders hand-in-hand with glaring administrative and operational inefficiencies.’’

Osidi said henceforth, staff would be held accountable for the outcome of credit decisions over which they had played critical roles.

 He said the strategy adopted by FMBN in the loan recovery endeavour was to follow a different path by challenging, “ourselves to deliver tangible results in pursuance and defense of our common destiny.

“The inauguration of these task teams marks a significant milestone in our ongoing efforts to enhance the financial stability and operational efficiency of the bank,’’ he said.

Osidi added that part of the assignment of the task teams includes conducting desk reviews of assigned loan portfolios, including the history of loans, houses available, state of collaterals, outstanding balances, and personalities behind the loans.

He explained that the teams are expected to look at the segmentation of the loans and the chances of recovery, develop an overreaching recovery strategy, engage relevant stakeholders, and use both conventional and informal, but acceptable strategies to carry out the recoveries.

He said in case the teams resorted to security agencies or the court, such action should not be made without the Executive Management’s approval.

Osidi observed that the team will be required to render regular updates and progress reports to the executive management and monitor and track the progress of debt recovery efforts.

He added that they will also implement measures aimed at preventing NPLs, developing risk mitigation strategies, and enhancing the credit assessment process, among others.

He said the teams were segmented along geo-political zones and each team would handle all delinquent loans within its jurisdiction.

He said Team One (FCT) would be led by Dr Kabir  Yagboyaju as Chairman, Mr Jibo Ibrahim Chairman of Team Two (North-West), TLG Elayo, Chairman of Team Three (North-Central), and Mr Gbenga Babade, Chairman of Team Four (South-West).

Others included: Ms Oby Nwokedi, Chairperson of Team Five (South-East), Mr Nafada Ibrahim, Chairman of Team Six (North-East,); and Ms Felicia Aningo, Chairperson of Team Seven (South-South).

“Speed is of the essence because each team has only 10 weeks to complete this assignment and deliver results.

“That is two weeks for desk review and eight weeks for the assignment,” he said.

Ms Chinenye Anosike, Executive Director, Business Development and Portfolio Management, FMBN, congratulated the members of the task teams.

She told the teams that they were carefully selected to deliver on the mandate.

Anosike, therefore, urged them not to pay lip service to the loan recovery task but to work hard and use their expertise to deliver good results within the expected timeframe.

Mr Muhammed Abdu, Executive Director, Loans and Mortgage Services, FMBN, said the loan recovery task given to the teams was an onerous responsibility and an epoch-making exercise aimed at reinventing the growth, development, and future of the bank.

Abdu then assured the bank’s management of the team’s commitment to working in synergy, to be selfless, objective, time-conscious, and passionate about the job, to make the bank very proud and bigger at the end of the day. (NAN)

Foreign News

CAF Sanctions Kenya Again over Crowd Trouble

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The Confederation of African Football (CAF) has sanctioned African Nations Championship (CHAN) co-host, Kenya, for the second time in as many weeks over security breaches.

In a statement made available on Monday evening, the continental governing body said that it has limited entry to the 48,000-seat Moi International Sports Centre.

It also said that, known as Kasarani Stadium, can accommodate 27,000 fans for Sunday’s Group A match between Kenya and Zambia.

CAF said only electronic ticket holders would be allowed into the stadium, with thermal tickets prohibited.

The governing body warned that Kenya’s matches could be relocated from Kasarani Stadium if organisers fail to prevent further breaches.

“We trust these measures will be applied swiftly to protect competition’s integrity, ensure fan safety, and uphold confidence in Kenya’s commitment to the tournament,” CAF said.

The sanctions follow incidents on Aug. 10 when Kenya defeated two-time winner Morocco 1-0 in spite of playing the entire second half with 10 men.

The win put Kenya top of Group A with seven points.

The debutants would reach the quarterfinals with at least a draw against winless Zambia.

Last week, Kenya’s football federation was fined nearly 20,000 U.S. dollars for security lapses during the team’s 1-0 win over DR Congo in the tournament opener on Aug. 3.

In the latest case, CAF cited major lapses, including stadium gates and restricted service areas being overrun by ticketless spectators and holders of government-distributed physical tickets.

It also accused security personnel of losing control at exit points and allowing breaches of the perimeter fence that enabled thousands of ticketless fans to enter.

CAF had expressed alarm over the use of tear gas and flash grenades, reports of live ammunition fired near spectators and staff, and violent incidents such as stone-throwing at security personnel.

It also cited unsafe vehicle movement in spectator areas, inadequate police response, and the lack of medical incident reports in spite of injuries being reported.

Organisers were further criticised for insufficient communication tools and the absence of CCTV coverage at critical entry points.

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Education

Varsity Don Advocates Establishment of National Bureau for Ethnic Relations, Inter-Group Unity

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By David Torough, Abuja

A university scholar, Prof. Uji Wilfred of the Department of History and International Studies, Federal University of Lafia, has called on the Federal Government to establish a National Bureau for Ethnic Relations to strengthen inter-group unity and address the deep-seated ethnic tensions in Nigeria, particularly in the North Central region.

Prof.

Wilfred, in a paper drawing from years of research, argued that the six states of the North Central—Kwara, Niger, Kogi, Benue, Plateau, and Nasarawa share long-standing historical, cultural, and economic ties that have been eroded by arbitrary state boundaries and ethnic politics.

According to him, pre-colonial North Central Nigeria was home to a rich mix of ethnic groups—including Nupe, Gwari, Gbagi, Eggon, Igala, Idoma, Jukun, Alago, Tiv, Birom, Tarok, Angas, among others, who coexisted through indigenous peace mechanisms.

These communities, he noted, were amalgamated by British colonial authorities under the Northern Region, first headquartered in Lokoja before being moved to Kaduna.

He stressed that state creation, which was intended to promote minority inclusion, has in some cases fueled exclusionary politics and ethnic tensions. “It is historically misleading,” Wilfred stated, “to regard certain ethnic nationalities as mere tenant settlers in states where they have deep indigenous roots.”

The don warned that such narratives have been exploited by political elites for land grabbing, ethnic cleansing, and violent conflicts, undermining security in the sub-region.

He likened Nigeria’s ethnic question to America’s historic “race question” and urged the adoption of structures similar to the Freedmen’s Bureau, which addressed racial inequality in post-emancipation America through affirmative action and equitable representation.

Wilfred acknowledged the recent creation of the North Central Development Commission by President Bola Tinubu as a step in the right direction, but said its mandate may not be sufficient to address ethnic relations.

He urged the federal government to either expand the commission’s role or create a dedicated Bureau for Ethnic Relations in all six geo-political zones to foster reconciliation, equality, and sustainable development.

Quoting African-American scholar W.E.B. Du Bois, Prof. Wilfred concluded that the challenge of Nigeria in the 21st century is fundamentally one of ethnic relations, which must be addressed with deliberate policies for unity and integration.

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Foreign News

Madonna Urges Pope Leo to Visit Gaza

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Pop icon Madonna has made an appeal to Pope Leo XIV, urging him to visit the blockaded Gaza Strip amid a starvation crisis that has sparked international outrage.

“You are the only one of us that cannot be denied entry,” the U.S. singer wrote on social media platform X late on Monday.

“We need the humanitarian gates to be fully opened to save these innocent children.

“There is no more time,” she added.

Marking the 25th birthday of her son Rocco Ritchie on Monday, Madonna also announced plans to donate to humanitarian organisations working in Gaza.

“I feel the best gift I can give to him as a Mother is to ask everyone to do what they can to help save the innocent children caught in the crossfire in Gaza,” she wrote.

A United Nations (UN) agency said late last week that “acute malnutrition among children in Gaza has reached the highest levels.”

In July alone, nearly 12,000 children lower than five in age were identified as acutely malnourished, with another 2,500 found to suffer from severe acute malnutrition.

According to the UN Office for the Coordination of Humanitarian Affairs (OCHA), this is the most life-threatening form.

Israel controls access roads to Gaza and has sealed off the coastal area.

Very little aid got into Gaza from March through May, when Israel began allowing in deliveries using a controversial private system that bypasses traditional UN agencies.

Under pressure from allies, Israel recently began permitting larger convoys into the territory, as aid airdrops take place overhead.

On Sunday, Irish rock band U2 issued a stinging critique of the Israeli government’s actions.

“We know Hamas are using starvation as a weapon in the war, but now so too is Israel and I feel revulsion for the moral failure,” frontman Bono wrote.

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