The Honourable Minister of Housing and Urban Development, Engr. Muttaqa Rabe Darma, PhD, has commended the Federal Mortgage Bank of Nigeria (FMBN) for its successful digital transformation, noting that the Bank's cloud-based data backup system safeguarded critical customer records and operational data following the recent fire incident at its headquarters.

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‎The Minister gave the commendation on Tuesday, August 4, 2026, during an inspection of the section of the Bank's headquarters affected by the fire that occurred on Saturday, August 1, 2026.

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‎Receiving the Minister on behalf of the Managing Director/Chief Executive, Shehu Usman Osidi, the Bank's Executive Directors, Mr. Ibidapo Odojukan (Finance and Corporate Services); Dr. Muhammad Sani Abdu (Loans and Mortgage Services); and Mrs. Chinenye Chinedu Anosike (Business Development and Portfolio Management), briefed him on the incident, the extent of damage and the measures taken to safeguard critical records through the Bank's digital infrastructure.

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‎Expressing satisfaction with the Bank's digital infrastructure, Engr. Darma noted that no critical records or customer data had been lost despite the damage caused by the fire.

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‎"I'm convinced by the management that nothing is really lost, except the physical structure of the building," the Minister said. "I came to the computer room and they showed me the records saved on the cloud."

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‎He disclosed that preliminary findings suggest the fire was most likely caused by an electrical fault, while investigations by the relevant authorities remain ongoing. He added that anyone found to have been negligent in the discharge of their duties, following the conclusion of the investigations, would be held accountable., 

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‎The Minister encouraged Nigerians to continue patronising the Bank, expressing confidence in its ability to deliver uninterrupted mortgage and housing finance services.

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‎"They have actually digitised their entire system, and the fire consumed only the paperwork that was there. I assure Nigerians that they should continue to patronise the Federal Mortgage Bank of Nigeria," he stated.

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‎Engr. Darma also reaffirmed the Federal Government's commitment to strengthening FMBN as a key institution for delivering affordable housing, noting that ongoing reforms would further improve mortgage delivery and operational efficiency.

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‎"As part of the policy reformulation of the Bank, we have asked FMBN to look into its internal arrangements and improve mortgage access to about 2,000 mortgages in a year," the Minister stated.

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‎The Minister's visit underscores the Federal Government's confidence in FMBN's resilience and ongoing transformation agenda, while reaffirming its commitment to strengthening the Bank as the nation's premier housing finance institution and a key vehicle for expanding access to affordable homeownership for Nigerians.

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‎Joe Abuku