‘Non Payment Of Salaries Frustrating Mortgage Industry In Nigeria’
The Managing Director, Federal Mortgage Bank Of Nigeria, Alhaji Ahmed Musa Dangiwa has lamented the inability of government to pay worker’s salaries, saying it is currently frustrating mortgage industry in the country.
He stated this in Ado Ekiti, during the inauguration of ultramodern state branch office of the Federal Mortgage Bank of Nigeria (FMBN), constructed at a cost of N132.6 million.
Dangiwa in his address urged the government to put issues of salary payment with utmost priority to be able to shore up National Housing Fund for the building of low cost housing units for workers.
According to him, there is need for Ekiti government to remit the 2.5 percent monthly deduction from each of the workers on minimum wage of N18,000 to the National Housing Fund with which the unit operates with.
He said the 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.
Dangiwa added that a sum of N495 million has been given to the Federal University of Technology, Akure (FUTA) Cooperative Multipurpose for the construction of 81 housing units, saying the cooperative has complied with the 15 percent equity for the take off of the scheme.
He said: “Definitely, the unpaid salaries are affecting our operations because the we are directly connected with salaries. We operate with deductions and it is made based on income.
“The beauty of it is that, our operations cover both private and public sectors and whoever doesn’t subscribe shall have his money refunded to him after retirement, it is just a monthly contribution.
“The Ekiti workers must benefit from the housing scheme and this can only be facilitated if the NHF is remitted having been deducted from the workers’ salaries.
“One thing that the state government has also been missing was the primary mortgage banking which was to embark on mass housing delivery programme. With this programme, the workers will benefit while also creating jobs for artisans and at the same time generate revenue for government”.
Also speaking, Ekiti State Governor Ayo Fayose expressed the readiness of his administration to collaborate with the financial institutions to provide affordable houses for the people of the state.
Fayose represented by his deputy, Dr. Kolapo Olusola said the state government had commenced 2.5 per cent deductions from basic salaries of workers who have been integrated into the National Housing Fund (NHF).
The state government, according to him, has confirmed its interest in the scheme through the provision of 20 hectares of land along Ado-Ikere road to commence the mortgage operation.
