The Federal Government has been called upon to urgently remit N12 billion in loan deductions from workers’ salaries that have not been credited to lenders.
The Humanity Development and Empowerment Organisation (HDEO), a coalition of financial institutions, made the call, emphasizing the importance of swift action due to the economic hardship faced by workers.
Osita Nebolisa, the outgoing National President of HDEO, explained that although the loans were deducted from civil servants’ paychecks, the funds had not been forwarded to the lenders.
He expressed concern over the failure to recover the N12 billion by the end of his tenure and urged the new executive team, led by National President Mr. Dele Apanisile, to prioritize addressing the issue with the Office of the Accountant General of the Federation and the Integrated Personnel and Payroll Information System (IPPIS).
Nebolisa, during a leadership handover ceremony in Abuja, asked the incoming leadership to leverage their experience and unity to recover the funds and prevent future losses from the IPPIS system. Under his leadership from November 2022 to November 2024, HDEO facilitated over N6.2 billion in loans to more than 2,400 federal civil servants.
The association, which includes commercial banks, microfinance banks, and finance companies, has been advocating for fair lending practices and greater financial inclusion for Nigeria’s workforce.
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