The Special Presidential Investigation Panel for the Recovery of Public Property has disclosed plans to recover N87 billion bad debts owed the Federal Mortgage Bank of Nigeria (FMBN). A statement issued on Wednesday by the panel’s spokesperson, Lucie-Ann Laha, said the Chairman, Mr. Okoi Obono-Obla, stated this when he visited the FMBN Managing Director, Mr. Ahmed Dangiwa, in Abuja. Obono-Obla said the debts arose from loans obtained by estate developers and primary mortgage institutions between 2009 and 2016. He said preliminary investigations revealed that some of the loans were not used for purpose for which they were obtained. According to him, the loans were not serviced due to the bank’s failure to “enforce due process and procedures.” Obono-Obla urged the FMBN management to cooperate with the panel by giving it all the necessary assistance to facilitate quick recovery of the debts.]]>

Follow Our WhatsApp Channel ______________________________________________________________________________________________________

[A MUST HAVE] Evidence Act Demystified With Recent And Contemporary Cases And Materials

“Evidence Act: Complete Annotation” by renowned legal experts Sanni & Etti.

Available now for NGN 40,000 at ASC Publications, 10, Boyle Street, Onikan, Lagos. Beside High Court, TBS. Email publications@ayindesanni.com or WhatsApp +2347056667384. Purchase Link: https://paystack.com/buy/evidence-act-complete-annotation

______________________________________________________________________ “Enhance Legal Practice With Authoritative Reports” — Alexander Payne Offers Comprehensive Law Reports, Spanning Over A Century Of Nigerian Jurisprudence

Interested buyers are encouraged to place their orders and enquiries via: 0704 444 4777, 0704 444 4999, 0818 199 9888 Website: www.alexandernigeria.com

______________________________________________________________________