Creditors Ask FG to Repay N12bn Loans Taken By Civil Servants
Sunday Aborisade in Abuja
The Humanity Development and Empowerment Organisation (HDEO), commonly known as the Lenders Association, has urged the federal government to repay the N12bn loans it extended to federal civil servants.
The HDEO said the federal government had since deducted the money from the civil servants’ pay-slips and salaries but refused to credit the accounts of the lenders.
Speaking during a leadership handover ceremony in Abuja yesterday, the outgoing National President, of the HDEO, Dr. Osita Nebolisa, revealed that the loans, though deducted from workers’ pay-slips and salaries, remained unremitted.
He tasked the newly elected executives, led by National President Mr. Dele Apanisile, to prioritize resolving the matter with the Office of the Accountant General of the Federation and the Integrated Personnel and Payroll Information System (IPPIS).
He said: “One of our most pressing challenges remains the recovery of over N12 billion in deducted but unremitted funds.
I urge all members to provide unwavering support to the EXCO in addressing this critical issue.
“The incoming leadership, comprising largely of experienced members from the current team, brings valuable continuity to this effort.
“To those few who may have reservations, I appeal for unified support of their strategies to retrieve these funds and prevent future losses through the IPPIS deduction system.”
During his tenure from November 2022 to November 2024, Dr Osita Nebolisa, the founder of Visa Microfinance Bank Ltd noted that over N6.2 billion in loans were provided to more than 2,400 federal civil servants.
He also highlighted the signing of a Service Level Agreement (SLA) with the Office of the Accountant-General of the Federation (OAGF) in 2023, which established a framework for equitable access to credit while protecting stakeholders’ interests.
The new executives pledged to build on the achievements of the past administration.
The Lenders Association is a coalition of financial institutions, including commercial banks, microfinance banks, and finance companies, working collectively to promote equitable lending practices and financial inclusion for Nigeria’s workforce.
