NHF: FMBN attributes inconsistency in subscriber accounts to late payments

The Federal Mortgage Bank of Nigeria (FMBN) has attributed the inconsistencies in National Housing Fund (NHF) subscriber accounts to delays in government and agency payment schedules.

FMBN Corporate Communications Group, Mr. Isa K-Sauri, who disclosed in an interview in Abuja, said that some federal agencies have late released their staff payment schedule, which makes it difficult for the bank to gather reports and send alerts because and when due.

He said: “Agencies are submitting these schedules late. The bank cannot release what it does not have; when we finally release it, it is as if it is backdated, which is not the fault of the bank but of the NHF units of these agencies. We therefore call on branches to roll out and publish the schedules of their NHF-subscribed staff in time, so that the bank can do its part.

“Additionally, the failure to update subscriber biographical data poses a challenge for the bank as changing email, phone numbers and other crucial information needed to establish complete records are usually missing” , said K-Sauri.

An unofficial bank source, who spoke on condition of anonymity, said the backlog of subscriber information that was being transferred from analog files to the digital system was another contributing factor.

The source, however, assured that all problems related to discrepancies in subscriber accounts would soon be resolved, as the bank left nothing to chance to satisfy customers.

Many NHF subscriber accounts were found to be inaccurate and did not reflect expected amounts.

A civil servant, Mr Ifeanyi Nwoko in Abuja, said his account had been returning dated alerts with the wrong balance for some time.

“I noticed that I got the 2020 NHF alert in 2022 when I paid my dues to date based on my last payslip. The same happened in 2021 as some alerts of 2020 arrived in 2021. Nor are the alerts constantly coming, some months are totally forgotten by the body.

“To top it off, the calculations of my total contributions seem to be at odds with what my total monthly contributions should be,” Anunobi said.

He therefore urged the NHF Desk to check for inconsistencies, to curb “this odious trend”.

Another subscriber, Mr. Fortune Abang from Cross River, said there were irregularities in the monthly credit alerts sent to him by the bank.

“I have yet to receive a response to the housing loan I applied for after a year. There are irregularities in terms of delay in

monthly account transaction notifications and credit alert. It has been a year since I applied for a N1m housing loan and have yet to receive a response. I don’t understand why the bank won’t release this fund,” Abang said.

Ms. Bukky Olaifa, another Nasarawa state official, also complained that the bank had been deducting her money for over 10 years, but her alert amount did not reflect what her total balance should be.

She called on the Federal Mortgage Bank to put things in order quickly, so that subscribers know the true state of their accounts.


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Elaine R. Knight