Fashola inaugurates governing boards for FHA, FMBN

The Minister of Power, Works and Housing, Babatunde Fashola, has inaugurated the governing boards of the Federal Housing Authority (FHA) and the Federal Mortgage Bank of Nigeria (FMBN).

This followed a directive by President Muhammadu Buhari to ministers to inaugurate the boards of the various parastatals under their supervision on or before Friday.

According to Mr. Fashola at the ceremony held at the ministry’s headquarters in Abuja on Thursday, the inauguration will enable the appointees participate in the decision making process that will affect the lives of millions of Nigerians, who will partake and benefit of the prosperity that a housing economy offers.

“It is an opportunity whose importance is not to be viewed lightly. This is the opportunity to participate by rendering service, and it is the hallmark of liberal democracy.

“On behalf of President Buhari, the Government and People of Nigeria, I thank you for accepting and for the service you will render to our people,” he said.

Mr. Fashola said the board members “will individually and collectively be the conscience of these agencies for implementing the policies of government, with respect to public housing and mortgage financing in Nigeria.

“Some of the programmes and projects of these agencies will come to you for approvals, and it will be your duty to decide whether to approve or not.

“In doing so, you will have to decide whether the proposals are consistent with Law, whether they advance public good, whether they will bring the greatest good to the greatest number of people.”

He said it is now the responsibility of the boards to provide guidance for the managing directors and management teams of FHA and FMBN to enable them deliver service to Nigerians.”

He added that the policy of the government is to deliver affordable housing, acceptable to Nigerians, saying the agencies are the implementing arms “for housing delivery through FHA and Housing Financing through FMBN.

“The Managing Directors and their Management teams have the executive responsibility for carrying these out, subject to your Board oversight, approvals and advice, while the Ministry plays a supervisory role.

“Therefore, we expect to see harmony, respect, teamwork and a healthy working co-operation between Board and Management,” he said.

Mr. Fashola assured the boards that while the Ministry would continue to supervise, it would not not interfere in their operations .