FMBN records N13bn operational surplus in H1 2025

The Federal Mortgage Bank of Nigeria (FMBN) has revealed that it recorded a total of N13 billion in operational surplus in the first half of 2025. The Managing Director and Chief Executive of FMBN, Shehu Osidi, made this known yesterday, at the 2025 FMBN Management retreat. Osidi said the retreat with the theme ‘‘Process Re-Engineering […]

The Federal Mortgage Bank of Nigeria (FMBN) has revealed that it recorded a total of N13 billion in operational surplus in the first half of 2025.

The Managing Director and Chief Executive of FMBN, Shehu Osidi, made this known yesterday, at the 2025 FMBN Management retreat.

Osidi said the retreat with the theme ‘‘Process Re-Engineering for Optimal Performance’’, aimed at touching on some of the milestones recorded in 2024 and set the tone for Management expectations and the deliverables from the 2025.

“At the time, I announced a half-year surplus of N4.9B, the first in the history of the Bank. However, by the end of the year 2024, that surplus grew to N11.9b.

“Following that trend, by the half-year management account for 2025, we have made over N13b as surplus.

“Though these figures may be largely eroded eventually by provisioning, the trajectory shows that we are on the right track to chart a new course for FMBN,” he said.

Osidi explained that closely related to financial sustainability and transparency, the Bank has also succeeded in clearing a 4-year backlog of the FMBN audited accounts for 2018, 2019, 2020 and 2021.

He said currently, the audit of 2022 accounts have been concluded and submitted to the CBN.

“I have also just signed off on the commencement of the 2023 audit. It is our plan to clear the remaining backlog and bring the Bank up to date by the end of the year,” he added.