FG begins compiling list of housing loan debtors, to seize mortgaged assets
The Federal Government Staff Housing Loans Board says it has begun compiling the list of retired civil servants who have defaulted on the full repayment of housing loans obtained.
Ngozi Obiechina, spokesperson for FGSHLB, disclosed this in a statement on Thursday.
The executive secretary of the board, Salamatu Ahmed, said the move was aimed at recovering mortgaged properties from retirees who failed to meet their loan obligations.
Ms Ahmed noted that the decision followed a recent memo issued by Patience Oyekunle, permanent secretary of the career management office, Office of the Head of the Civil Service of the Federation (HCSF).
According to her, the memo reminded public servants of the mandatory requirement to obtain a Certificate of Non-Indebtedness to the FGSHLB and MDA Staff Multipurpose Cooperative Society as a precondition for retirement.
The executive secretary said that the board would take necessary legal steps to repossess properties where applicable, in line with the terms of the loan agreements.
”I am directed to bring to your attention the provision of Public Service Rule (PSR) 021002 (p), which mandates all public servants to obtain a Certificate of Non-Indebtedness as a prerequisite for retirement.
“The federal government will commence the seizure of mortgaged properties belonging to retiring federal public servants who have failed to fully repay housing loans obtained from the board,” she said.
Ms Ahmed explained that the FGSHLB reserves the legal right to repossess any mortgaged property in cases where a public servant exits service without fully repaying the loan.
She reiterated that the directive also applied to retired officers who are still indebted. She urged all affected public servants to regularise their loan status and immediately obtain the required clearance certificate.
“The board is currently compiling a list of such retirees, which will be forwarded to relevant regulatory agencies for debt recovery.
“The FGSHLB remains committed to enforcing compliance and ensuring proper loan recovery procedures are followed,” she added.
(NAN)
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