ABUJA — DUE the  grumblings by officers, rank and file of the Nigeria Police Force across the country over what they termed forced deductions of N11,000 from their salaries (N5,500 each in June and July) by the leadership of the force to acquire shares for policemen in the Police Mortgage Bank, the Force Headquarters has explained that the deductions were meant to assist the officers own houses.

Speaking with Vanguard, Force spokesman, CSP Frank Mba, explained that with the Police having a whooping N8 billion tied down in the Federal Mortgage Bank of Nigeria, an amount which many other mortgage concerns have been accessing and benefiting from, the present Police leadership feels time had come for policemen to enjoy the fruit of their labour.

President Jonathan presenting house keys to a beneficiary of of the Goodluck Jonathan Housing Estate, Idimu, Lagosousing Estate giving a salute to guests at the official unveiling of the Estate on Friday July 19, 2013 in Lagos, watching with admiration are Mr. Olatunde Ayeni, Chairman, ASO Savings & Loans- financier of the Goodluck Jonathan Housing Estate, Idimu, Lagos; Oba of Lagos, Rilwan Akiolu, Lieutenant Colonel Ogogbane Adegbe Aide de Camp to Mr. President, Special Guest of Honour Dr Ebele Jonathan, President, Commander in Chief of Armed Forces of Nigeria and Mr. Muhammed Abubakar, Inspector General of Police at the official unveiling of the 200 of the 504 units of 3-Bedroom block of flats. Photo by Lamidi Bamdiele

He noted that with the contribution of N11,000 across board (from IGP to constable), which makes every policeman a share holder and part owner of the Police Mortgage Bank.

“Every police officer irrespective of rank is entitled to a loan of up to N15 million at a single digit interest rate not exceeding eight per cent and repayable over a maximum period of 30 years, to build his own house.

“Every police officer irrespective of rank can also get up to N15 million on same terms to renovate his property, purchase a piece of land and purchase a house either independently or through the Police Housing Scheme.”