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FMBN recovers N2bn debt….Alile denies N295m debt

Peter Egwuatu
Apostle Hayford Alile has denied any knowledge of any indebtedness to Federal Mortgage Bank of Nigeria (FMBN) saying that he had actually reached his lawyers to investigate the veracity of the debt and advise him accordingly.

The FMBN said that Alile owes N295 million through Shelter Initiatives Limited. Other personalities listed as debtors to FMBN, according to Economic Confidential include: Chief Okoya Thomas whose company, Netconstruct Nigeria Ltd owes N454mn; Major General Magoro whose company, Modular limited owe N332mn; Hajia Amina Abubakar of Imani and Sons Limited that owes N249mn; Alhaji Lateef Jakande of Good Homes Estate Ltd that owes N219million; Apostle Hayford Alile of Shelter Initiatives Limited that owes N295million ; Dr. Yemi Ogunbiyi of Tanus Property Development Limited that owes N198million and Chief Gabriel Karibo family, whose company, Atasi-Isi Supplies and Services owes N723mn.  Others are : CITEC International Estate Ltd., owned by Oludare Bello, which owes N1.7bn, Cambial Limited owned by Yemi Obadeyi owing N2bn, Same Global system Ltd owned by Ehi Musibau and Sijuades owing N1.6bn.

According to the pioneer Director-General of the Nigerian Stock Exchange (NSE) Alille, “ I  was approached several years ago, by some estate developers to serve on the board of the company which he acceded to after much pressure, but made abundantly clear to them that he was too busy to attend their meetings.
“I can tell you that I did not know what transpired in that company and have actually contacted my lawyers already to take up the case,” he said, noting that he would not allow anybody to drag his name in the mud.”

Alile, a  spiritual leader of St. Joseph Chosen Church of God, SJCCG, who recently played host to internationally renown motivational speaker, Dr. Myles Munroe to a 3-city international conference aimed at re-orientating the nation towards righteous living, yesterday, vowed to defend the name he has built over the years.

According to Economic Confidential an online intelligence magazine, the FMBN said it would soon pursue legal actions against bad debtors of mortgage financial institutions just as it has recovered N2bn non-performing facilities.

This development is coming after the Central Bank of Nigeria (CBN) allays the fear of the public on speculations of new damaging report on Nigerian banks. Insisting that  examiners have concluded the audit of 11 of the 14 banks not included in the first exercise, and that “based on the reports received so far, the clear indications are that the bulk of the problems have been effectively dealt with in the first audit round and no decision has so far been taken on these 14 banks.”

While the CBN’s position was contained in a statement by the bank’s spokesman, Mohammed Abdullahi, the position of FMBN came from the management headed by Abdulsalam Ahmed, a mortgage banker who was appointed the managing director in April 2009.

The FMBN as gathered  requires a massive recapitalisation to enable it fulfil its mandate of providing the needed finance to meet the nation’s housing needs and was compelled to issue the last warning to defaulters.

According to Ahmed,  “following several demands notices and in line with the ongoing sanitisation in the banking industry, it has become necessary to request defaulting customers of the bank to regularise their accounts within twenty one days which will expire on Monday October 5, 2009.”


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