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FMBN Explores Innovative Means To Provide Affordable Housing

by Bidon Mibzar
10 months ago
in Business
FMBN
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In its bid to enhance performance, improve credit quality and reduce non-performing loans, Federal Mortgage Bank of Nigeria (FMBN) is exploring innovative solutions which include depending on the bank’s process automation.

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The managing director/chief executive officer of the FMBN, Shehu Usman Osidi said this in his opening remarks, at the Bank’s 2024 Management Retreat, presently ongoing at the Zuma Rock Resort Centre, along Abuja-Kaduna expressway.

Osidi who said the retreat is intended to take a close look at FMBN’s operational efficiency vis-à-vis its customer service delivery undertakings will also accord the management staff the opportunity to reflect, strategize, and align their efforts towards achieving the goals for the bank.

He said the theme of the retreat, “Improving Efficiency and Customer Service Delivery for Developmental Impact” is both timely and relevant.

“The importance of this retreat cannot therefore -be overemphasised. We are in a period of significant challenges and transformation, both within the FMBN and in the broader financial and housing sectors. Our ability to successfully navigate these difficult times depends on our commitment to improving operational efficiency and delivering exceptional customer service. These two elements are the cornerstones of our ability to drive developmental impact and achieve our strategic goals”.

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“We have also tightened our project loan appraisal processes to ensure fidelity to our underwriting conditions. The benefits of these endeavours will begin to mature very soon. Expanding Strategic Partnerships: No organisation can achieve its goals in isolation. Expanding strategic partnerships with key stakeholders—both within the public and private sectors—is crucial to our success. By building and nurturing these partnerships, we can leverage synergies, access new resources, and expand our reach. This will enable us to scale our impact and accelerate the delivery of affordable housing across Nigeria”, he said.

While reiterating that his Bank has sketched a 7-point agenda that is aimed at creating the building block for improving efficiency and effective customer service delivery of the bank, the CEO explained the agenda to include  deepening process automation which he said will help in streamlining operations. He said the second agenda is to promote cost efficiency which he explained will assist in creating sustainable growth.

 

Other agenda of the Bank are : “By enhancing credit quality, we ensure the safety of the bank’s funds. Effective project management ensures timely and quality service delivery. Strategic partnerships expand our capabilities, while a robust performance management system and standardised capacity building ensure that our employees are equipped and motivated to deliver their best”, he added.


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