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Torkwase Nyiekaa
The Managing Director and Chief Executive Officer of the Federal Housing Authority (FHA), Hon. Oyetunde Ojo, on Wednesday said the agency had cleared a debt burden of over N12 billion within one year of the current management’s assumption of office and is on course to contribute N6 billion to the Federation Account by the end of 2026.
Ojo disclosed this in Abuja after receiving an Award of Excellence from the Anti-Corruption Academy of Nigeria (ACAN), the research and training arm of the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
According to him, the Authority inherited liabilities exceeding N12 billion, alongside unpaid salaries and other obligations, when the current management assumed office about two years ago. He said the agency has since been repositioned into a revenue-generating institution through institutional reforms, prudent financial management, digitalisation and a zero-tolerance policy on corruption.
He said the FHA contributed N3 billion to the Federation Account in July this year and is expected to contribute another N3 billion by December, bringing the total contribution for the year to N6 billion.
“It took resilience, sacrifice and discipline to revive this organisation. When we came in, we inherited a debt of over N12 billion backed by a Supreme Court judgment. At that point, we did not even know where the money to pay workers’ salaries would come from,” he said.
Ojo said the management resolved from the outset not to rely on Federal Government subventions but instead focused on repositioning the Authority through internal reforms and improved revenue generation.
“We agreed that every kobo earned by the Authority would first be used to restore the institution rather than serve personal interests. Our goal was to return the FHA to profitability and ensure it delivers returns on government’s investment,” he said.
He said one of the administration’s first steps was to strengthen transparency and accountability by reviving the Servicom Unit and the Anti-Corruption and Transparency Unit (ACTU), while commencing the long-delayed digitalisation of the Authority’s land and housing records.
According to Ojo, the digitalisation process has improved operational efficiency and enhanced revenue collection from the Authority’s property portfolio.
He said the reforms began yielding results within three months, enabling the agency to improve its financial position and, within one year, clear the over N12 billion deficit inherited by the current management.
The FHA boss further said the financial recovery enabled the Authority to restore regular salary payments and significantly improve staff welfare.
According to him, workers now receive salaries promptly, enjoy a 13th-month salary, transportation support, medical assistance, furniture allowances and regular promotions, while staff training has resumed both within Nigeria and abroad after more than 15 years.
Ojo maintained that improved staff welfare and responsive leadership are essential to combating corruption in public institutions.
“If workers are not paid, they become vulnerable to sharp practices. We decided that there would be zero tolerance for corruption, but leadership must first demonstrate responsibility by taking care of workers’ welfare. Once people are motivated, there is no excuse for corrupt practices,” he said.
He added that the Authority has also introduced a clock-in and clock-out attendance system to improve discipline and accountability among employees.
Earlier, while presenting the award, the Provost of ACAN, Professor Sheriff Ghali Ibrahim, said Ojo was honoured for demonstrating a strong commitment to integrity, accountability and institutional reforms within the Federal Housing Authority.
He said the Authority had consistently partnered with the ICPC through staff participation in anti-corruption training programmes, with many of the participants excelling during the courses.
Ibrahim said the award recognised Ojo’s commitment to strengthening transparency, institutional accountability and anti-corruption measures within the FHA through reforms, staff capacity building and sustained collaboration with the ICPC and ACAN.