FMBN: Unpaid Salaries Killing  Mortgage Industry

By Victor Ogunje in Ado Ekiti

The Federal Mortgage Bank of Nigeria (FMBN) has declared that the inability of state governments to pay salaries has been crippling mortgage industries in the country.

The bank pleaded with the 36 states of the federation to prioritise payment of salaries to workers to be able to shore up the National Housing Fund (NHF) for the building of low cost housing units for workers.

The Managing Director, Alhaji Mohammed Dangiwa, disclosed this in Ado-Ekiti on Monday while opening a new FMBN building in the state.

Dangiwa said there is need for the Ekiti government to remit the 2.5 per cent monthly deduction from each of the workers on minimum wage of N18,000 to the National Housing Fund (NHF) with which the unit operates with.

He said labour leaders in the state  had expressed their desires to key into the NHF scheme and that they are awaiting the benefits which can only be attained if the fund is remitted to FMBN.

Details later…