The Federal Mortgage Bank of Nigeria (FMBN) says the Integrated Personal Payrol information System (IPPIS) failed to remit N26.6 billion of workers contributory funds in two years.
Mr Madu Hamman, Managing Director of FMBN, said this on Thursday in Abuja while appearing before the House of Representatives Ad hoc committee probing the non-remittance to the National Housing Fund (NHF) and Utilisation.
According to him, from October to December 2022 there were 40 per cent unremitted payments to FMBN resulting from revenue drive by the Federal Government and a total of N11.630 billion was involved.
“From January to December 2022, N11.587 billion was not remitted as backlog payments for MDAs from IPPIS, while N3. 356 billion was not remitted from April to July 2021 as outstanding failed payments for 2021 from IPPIS,” he said.
Hamman explained that some NHF payments meant to be paid to FMBN as housing contributions had been wrongly made into the Federal Government Loan and Scholarships Board, adding that 14 MDAs were affected by the wrong payments.
He said all contributors were eligible for a full refund of their contribution over the years including accrued interest of 2 per cent upon retirement.
Others, he said, were by attainment of 60 years or inability to continue due to incapacitation or death, adding that FMBN had refunded N66.678 billion to 444,637 beneficiaries.
Speaking on projects executed through various means, Hamman said, FMBN ensured it gave loans to register members of the association of developers.
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He said that FMBN also had the regular primary mortgage bank from interested individuals where it disbursed N139.6 billion to 24,332 beneficiaries.
On the ministerial pilot scheme, he said the Federal Ministry of Works and Housing provided land for those on the scheme and it had spent N38 billion to build 5,443 units of housing.
Reacting to the allegations, Mr Ekwem Dem, Deputy Director, IPPIS in the Office of the Accountant General said, ” On our own part, we are just hearing some of these allegations.”
He said, for instance, the ‘no work no pay’ for members of ASUU remittances was still hanging, adding that there was a need for a reconciliation window, “so we can see the area of convergence”
Rep. Dachung Bagos, the Chairman of the Committee, said it would go on oversight of some of the projects claimed to have been executed by FMBN and where they were located.
“We are going to do some random checks to see the utilisation of this work, we are going to oversight all these projects
” We need to know why the Nigerian civil servants are not given what is due to them, even if we have to go with a tricycle; we will go.
” Some of us are engineers. We are going to receive some of these things, we must get value for our naira and Nigerians must get value for their money.