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Investigate Suspended FHA Homes MD, Groups Tell EFCC

Anthony Awunor

A coalition of 45 civil society groups under the aegis of Rights Monitoring Group (RMG), has called on EFCC to investigate the allegations of wrongdoings against Mr Roland Igbinoba, who has been suspended as the Managing Director of the FHA – Homes limited, a Federal Housing Authority RMG is also asking the Economic and Financial Crimes Commission (EFCC) to quickly dispatch its officials to scrutinize the operations of mortgage bank under the watch of Igbinoba since 2013 when he was appointed the Managing Director.

In a statement made available to newsmen in Lagos on Tuesday, jointly signed by its President, Mr Olufemi Aduwo and General Secretary, Rev.Olufemi Ibidapo, the civil society group called for a closer look at Igbinoba’s case. The statement reads “We took upon ourselves to investigate the allegations leveled against Roland Igbinoba by the previous board and supported by Central Bank observation and we discovered there is an iota of truth in the entire allegations. The allegations against the suspended MD, FHA-Homes Ltd call for serious concern considering the quantum of recklessness and direct stealing perpetrated by Roland Igbinoba”

“In 2014, Central Bank supervisory report registered 50 exceptions against the operations and practices of FHA-Homes Ltd. Mr. Roland granted a loan to himself at a ridiculous interest rate of 3 percent per annum. This act contravenes section 7.3(3) of the bank’s guidelines, as members of staff are charged at 14%. The bank’s shareholders fund of approximately 3b naira as at December 2013 have been eroded as a result of the huge unilateral lending made from the capital of the bank”, it added.

According to the Statement from RMG, based on CBN warning, the Board of Directors noted the monumental danger and risk to investors fund and to avoid total loss of FHA cash and assets of over 13bn in case of liquidation, the newly appointed board invited the suspended MD for meeting to shed more light on CBN report. It said Roland told the board that the apex report was false and to confirm the authentic position of the mortgage, the board decided to appoint forensic audit firm and the board asked him to step aside for proper auditing to be done, position Roland vehemently rejected.

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