FG Threatens Sanctions Over FMBN Headquarters Fire

The Minister of Housing and Urban Development, Engr. Muttaqa Rabe Darma, has warned that anyone found negligent in connection with the fire incident at the headquarters of the Federal Mortgage Bank of Nigeria (FMBN) will be held accountable after ongoing investigations are concluded.

Darma gave the warning on Tuesday during an inspection of the affected section of the Bank’s headquarters in Abuja, where he received a briefing from the management and technical team on the cause of the fire, the extent of the damage and measures taken to sustain operations.

He said preliminary findings indicated that the fire, which affected part of the second floor of the building on Saturday, August 1, was most likely caused by an electrical fault. However, investigations by relevant experts were still underway.

“The investigation is still ongoing, and anyone found to have been negligent in the discharge of their duties will be held accountable,” the minister said.

Despite the incident, Darma assured Nigerians that no critical records or customer data were lost, attributing this to FMBN’s successful digital transformation and cloud-based backup system.

“I’m convinced by the management that nothing is really lost, except the physical structure of the building.
They showed me the records saved on the cloud”, he said.

The minister added that the fire destroyed only physical documents, stressing that the Bank’s digital records and operational systems remained intact.

The minister urged Nigerians to continue patronising FMBN, assuring contributors and mortgage customers that the institution remained fully operational and capable of delivering uninterrupted services.

Darma also reaffirmed the Federal Government’s commitment to expanding access to affordable housing, expressing confidence that the administration would deliver on its promise of constructing 100,000 housing units within four years.

According to him, ongoing reforms at FMBN aim to strengthen mortgage delivery and improve the institution’s operational efficiency.

“As part of the policy reformulation of the Bank, we have asked FMBN to review its internal arrangements and improve mortgage access to about 2,000 mortgages annually,” he said.