Fed Govt dissolves FMBN Board


  060910, Nkechi Onyedika


The Federal Government has dissolved the board of the Federal Mortgage Bank of Nigeria.


In a statement yesterday in Abuja, the Minister of Lands, Housing and Urban Development, Chief Nduese Essien, said that the dissolution of the board which was approved by President Goodluck Jonathan, was part of measures to address the lingering controversy over the constitution of the FMBN’s board and to reposition it to effectively drive the mortgage sub-sector of the nation’s economy.


He assured that government would soon reconstitute a new board for the apex mortgage bank and called for the co-operation of all stakeholders.


The statement read in part:  “We had received several petitions from stakeholders who kicked against the constitution of the FMBN’s board. In line with the policy of the present administration and its respect for the rule of law, we had painstakingly investigated the claims contained in the petitions. After due consideration, the Federal Government has decided to dissolve the board and will reconstitute a new one soon.”


While thanking the former board members for their services to the country, the minister said he wished them well in their future endeavours.

Source: Guardian



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