The Federal Government of Nigeria has been told to remit a total sum of N12 billion in loans deducted from workers’ salaries without delay.
A money lenders association operating under the aegis of ‘The Humanity Development and Empowerment Organisation (HDEO)’ said the remittance should be treated with the urgency it requires, given the economic hardship workers find themselves in.
The association said the loan was deducted from civil servants’ payslips and salaries but not credited to lenders.
Speaking at a leadership transition event in Abuja, departing National President Osita Nebolisa stated that the debts, although being collected from workers’ payslips and wages, had yet to be repaid.
He directed the newly elected executives, led by National President Mr. Dele Apanisile, to prioritize resolving the issue with the Office of the Accountant General of the Federation and the Integrated Personnel and Payroll Information System (IPPIS).
Nebolisa bemoaned the issue of not retrieving the N12 billion deducted debt before the end of his tenure and encouraged association members to help the incoming management to ensure the loan is recovered.
“The new leadership, which consists mostly of seasoned members of the present team, adds essential continuity to this effort. To the few who may have reservations:
I urge everyone to support their plans for retrieving this cash and preventing future losses through the IPPIS deduction mechanism.”
From November 2022 to November 2024, Osita Nebolisa, the founder of Visa Microfinance Bank Ltd, claimed that more than 2,400 federal public officials received loans totaling N6.2 billion.
He also mentioned that a Service Level Agreement (SLA) with the Office of the Accountant-General of the Federation (OAGF) will be signed in 2023, establishing a framework for equitable credit access while preserving stakeholders’ interests.
The new leaders promised to build on the successes of the previous administration.
The group is a partnership of financial institutions, including commercial banks, microfinance banks, and financing firms, working together to promote equity.
