FMBN to pay N171mn demurrage over custom’s detention of goods at port

The Federal Mortgage Bank of Nigeria (FMBN) on Wednesday said that about 16 containers of building materials meant for a housing project of the bank in Abuja, which are still at the port awaiting clearance, have resulted in accumulated demurrage to the tune of N171 million.

A statement signed by Mercy Dominic, who is the head of public affairs unit at FMBN, also quoted Richard Esin, acting managing director/CEO of the bank as and soliciting the support and cooperation of the Nigeria customs service to enable the bank take possession of the containers to ensure further development housing projects across Nigeria.

According to her, Esin made the request during a courtesy visit by the FMBN boss to Nigerian Customs Service as part of on-going efforts by the bank’s management to collaborate with relevant government agencies towards achieving its mandate.

He used the occasion to urge the Nigeria customs service to assist the bank in enforcing compliance with the provisions of the National Housing Fund (NHF) Act,by any business entity, private or public, that is seeking or doing business with the service.

He also encouraged the officers in the customs service to take advantage of the existing 95 estates funded by the Bank across the country at various stages of completion to become home owners which, in turn, would improve staff productivity in the service.

Esin stated that home ownership was a major tool for fighting corruption, given that it satisfies the fundamental human need for shelter, while conferring socio-economic advantage and a safety net for otherwise vulnerable citizens.

According to him, FMBN had funded the construction of an estate in the Kuje area of Abuja for officers of the Nigeria customs service, and sought the intervention of the service to compel the developer to repay the outstanding loan balance, as the service, he confirmed, had fully paid for the houses in favour of its personnel, directly to the developer who failed to remit same to the bank.

At the meeting, Esin commended the Nigeria customs service for full compliance with NHF remittance and stated that compliance was mandatory for all workers, adding that employers should be encouraged to remit monthly contributions of their employees to the Bank in a timely manner.

On his part, the comptroller general, Nigeria Customs Service, Hameed Ahmed Ali, appreciated the sincere disposition of the FMBN boss and the role the bank has played in facilitating home ownership for officers of the customs service.

Ali also promised to look into the subjects discussed towards forging a stronger relationship based on mutual collaboration and cooperation between Nigerian Customs Service and the Federal Mortgage Bank of Nigeria.