Business
SHEHU Osidi, Managing Director and Chief Executive Officer of the Federal Mortgage Bank of Nigeria (FMBN), has announced that the bank is restrategising to improve credit quality and reduce Non-Performing Loans (NPLs).
He made this known at the 2024 FMBN Management Retreat held in Abuja on Monday.
The retreat with the theme: “Improving Efficiency and Customer Service Delivery for Developmental Impact,” is focusing on refining FMBN’s processes and service delivery, particularly its loans, to maximise impact.
Osidi emphasised that the quality of the bank’s credit portfolio was crucial to its health and stability, but NPLs are a significant challenge.
He said that to address this, FMBN had inaugurated a recovery task team to recover delinquent loans across the country’s geopolitical zones.
Osidi urged staff to adopt best practices in project management and warned that officers responsible for bad credit decisions would be held accountable.
He also announced the introduction of a robust performance management system to drive productivity and a performance management contract with the Federal Ministry of Housing and Urban Development to deliver specific targets.
Osidi highlighted the importance of deepening process automation, promoting cost efficiency, enhancing credit quality, effective project management, strategic partnerships, and standardised capacity building to improve efficiency and customer service delivery.
He added that by enhancing credit quality, the safety of the bank’s funds would be ensured, and effective project management would ensure timely and quality service delivery.
“Strategic partnerships expand our capabilities, while a robust performance management system and standardised capacity building ensure that our employees are equipped and motivated to deliver their best.
“Together, these elements create a powerful synergy that drives our developmental impact. When we operate efficiently, we are able to do more with less, serving more customers, and delivering better outcomes.
“When we prioritise customer service, we build stronger relationships, earn trust, and create lasting value for our stakeholders,” he said.
The FMBN Managing Director’s underscored the bank’s commitment to improving its operational efficiency, reducing non-performing loans, and enhancing customer service delivery to achieve its developmental impact. (NAN)
A.I
Aug. 27, 2024
Tags: Shehu Osidi
