✕ CLOSE Online Special City News Entrepreneurship Environment Factcheck Everything Woman Home Front Islamic Forum Life Xtra Property Travel & Leisure Viewpoint Vox Pop Women In Business Art and Ideas Bookshelf Labour Law Letters

Cash crunch threatens housing loans for federal workers

The Federal Government Staff Loan Board yesterday said its budgetary provision in 2023 was insufficient to meet the huge requests for housing loans by federal…

The Federal Government Staff Loan Board yesterday said its budgetary provision in 2023 was insufficient to meet the huge requests for housing loans by federal government workers.  

The Executive Secretary of the Board, Ibrahim Mairiga stated this when he appeared before the Senate Committee on Establishment to defend the board’s 2023 budget. Mairiga said the Board had to depend on a paltry N2.5bn in the Service Wide Votes. 

Nigeria must formulate new approach to road maintenance

NIGERIA DAILY: Did Peter Obi Really Suspend His Campaign?

He said the money could only cater for 200 people against a total of 35,000 applications valued at roughly N67bn. 

The chairman of the committee, Ibrahim Shakarau, said the committee would look for ways to increase the purse for the Board, admitting, however, that it might be extremely difficult to achieve. 

Similarly, the National Salaries and Wages Commission raised concern over paucity of funds which, it said, had rendered it “incapacitated” to effectively carry out its mandate.