Shehu Osidi, the CEO of the Federal Mortgage Bank of Nigeria, has announced that the bank is re-strategising to improve credit quality and reduce non-performing loans.

He stated this at the 2024 FMBN Management Retreat held in Abuja on Monday.

Mr 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.

Mr 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 introducing 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.

Mr 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 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)