CurrentReport Blog The Federal Government of Nigeria has been called upon to urgently remit a total of N12 billion in loan deductions taken from civil servants’ salaries but not credited to lenders.
This demand was made by The Humanity Development and Empowerment Organisation (HDEO), a coalition of financial institutions advocating for equitable lending practices. The association expressed concern over the delay, emphasizing the growing economic hardship faced by federal workers.
Speaking at a leadership handover ceremony in Abuja, outgoing National President Osita Nebolisa disclosed that despite being deducted from civil servants’ payslips, the loan repayments remain unremitted. He urged the newly elected executives, led by President Dele Apanisile, to prioritize resolving the matter with the Office of the Accountant General of the Federation (OAGF) and the Integrated Personnel and Payroll Information System (IPPIS).
Nebolisa, who served from November 2022 to November 2024, described the unresolved N12 billion as a major challenge of his tenure.
“The incoming leadership, consisting largely of experienced members from the current team, brings valuable continuity to this effort. I appeal to all members to support their strategies to retrieve these funds and prevent future losses through the IPPIS deduction system,” he said.
During his tenure, Nebolisa, founder of Visa Microfinance Bank Ltd, reported that over N6.2 billion in loans were provided to more than 2,400 federal civil servants. He also highlighted the 2023 signing of a Service Level Agreement (SLA) with the OAGF, which established guidelines for fair access to credit and safeguarded the interests of lenders and borrowers.
Dele Apanisile and his team have pledged to build on the achievements of the past administration. They aim to resolve the outstanding remittance issue and enhance equitable financial services for Nigerian workers.
HDEO is a coalition comprising commercial banks, microfinance banks, and finance companies, collectively working to promote financial inclusion and ensure fair lending practices for Nigeria’s workforce.
The resolution of the N12 billion remittance issue is expected to bolster the association’s credibility and provide much-needed relief for affected workers and lenders alike.
