IG inaugurates Police Mortgage Bank

The acting Inspector General of Police, Mohammed Abubakar, says lack of permanent accommodation for officers of the force promotes corruption and immorality among them.

Mr. Abubakar made the remarks on Wednesday in Abuja, while inaugurating the Board of Directors of a Primary Mortgage Bank for the police, FOKAS Savings and Loans Ltd.

He said that lack of permanent accommodation is also accelerating the death of many retired officers.

“Many officers are distressed by the thought of retirement and even transfer for the fear of not having a permanent place of residence for themselves and their families.

“The worst are those who died in active service, because their families are generally ejected from either rented or official abodes before the end of their mourning period.

“The effect of this has encouraged corruption, immorality among officers and men of the force, and has accelerated the death rate of retired personnel.”

The IG urged the directors to exercise their powers solely for the purpose for which they were appointed and work hard to realise the objectives for which the bank was set up.

He also urged them to work toward meeting the time framework set by the CBN for the N5 billion capitalisation of the bank.

Agboola Oshodi-Glover, the Executive Secretary of the Nigeria Police Cooperative Multi-Purpose Society Ltd., said that the society acquired FOKAS Savings and Loan Ltd. in 2010.

Members of the board are acting Commissioner of Police Agboola Oshodi-Glover; the Executive Secretary of the Nigeria Police Cooperative Multi-Purpose Society Ltd.; acting Commissioner of Police, Umar Momoh; Financial Controller of the cooperative society; and Joseph Egbunike, Budget Department, Nigeria Police.

Others are Innocent Iloka; National Housing Fund Department, Nigeria Police; and a retired Commissioner of Police, Umar Ma’aji Jalingo.


Support PREMIUM TIMES' journalism of integrity and credibility


Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.


NEVER MISS A THING AGAIN! Subscribe to our newsletter

* indicates required


Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD: New Discovery! Click Here To See A Miracle Device That Can Cure DIABETES, BLOOD PRESSURE, STROKE, ARTHRITIS, PAINS, OBESITY And 50 Other CHRONIC DISEASES Without Drugs Or Herbs.. Click Here Now To See It

All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.