According to the Federal Mortgage Bank of Nigeria (FMBN), its operational surplus for the first half of 2025 was N13 billion.
This was announced yesterday during the 2025 FMBN Management Retreat by Shehu Osidi, the Managing Director and Chief Executive of FMBN.
According to Osidi, the retreat’s topic, “Process Re-Engineering for Optimal Performance,” was designed to discuss some of the significant events of 2024 and provide the framework for management’s expectations and the 2025 deliverables.
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
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