N6.2bn loan disbursed to 2,400 civil servants in 2yrs – Lenders
The Humanity Development and Empowerment Organisation (HDEO), widely known as the Lenders Association, has disclosed that it disbursed over N6.2 billion in loans to over 2,400 civil servants between November 2022 and November 2024. The outgoing president of the association, Dr Osita Nebolisa, stated this in Abuja during the handing-over ceremony to the newly elected […]
The Humanity Development and Empowerment Organisation (HDEO), widely known as the Lenders Association, has disclosed that it disbursed over N6.2 billion in loans to over 2,400 civil servants between November 2022 and November 2024.
The outgoing president of the association, Dr Osita Nebolisa, stated this in Abuja during the handing-over ceremony to the newly elected leadership.
Dr Nebolisa, who is also the founder of Visa Microfinance Bank Ltd, highlighted the association’s key achievements during his tenure, including the signing of a Service Level Agreement (SLA) with the Office of the Accountant-General of the Federation (OAGF) in 2023.
“This agreement established a framework ensuring fair and affordable access to credit for civil servants while safeguarding the interests of all stakeholders in Nigeria’s lending ecosystem,” he said.
Dr. Nebolisa noted that one of the pressing challenges during his administration was the recovery of over N12 billion in deducted but unremitted funds.
He called on the incoming executives, led by National President Mr Dele Apanisile, to prioritise engaging with the Integrated Personnel and Payroll Information System (IPPIS) leadership to resolve the issue.
“I urge all members to support the new leadership in retrieving these funds and ensuring that similar losses are prevented in the future through robust engagement and management of the IPPIS deduction system,” he said.
The new executives pledged to build on the achievements of the past administration.
The Lenders Association is a coalition of financial institutions, including commercial banks, microfinance banks, and finance companies, working collectively to promote equitable lending practices and financial inclusion for Nigeria’s workforce.