•CEO says action necessary for bank’s survival
Emmanuel Addeh in Abuja
In a bid to recover its delinquent and non-performing loans, the Federal Mortgage Bank of Nigeria (FMBN), yesterday set up seven specialised loan recovery task teams to retrieve all the bank’s debts nationwide.
Speaking at the event, the Managing Director of FMBN, Shehu Osidi, who inaugurated the teams at the Abuja headquarters of the bank, stated that the action was critical to sustain the core mandate of making mortgage available to Nigerians.
Osidi stated that the step had become important so as to safeguard the financial interests of the bank and ensure the sustainability of its lending operations, stressing that that over the years, the bank had played a crucial role in providing affordable housing finance to Nigerians.
According to him, this has helped in contributing significantly to the achievement of the national housing agenda and promotion of home ownership in…
Source: Thisday Newspaper
