The Federal Housing Authority (FHA) has disclosed that it paid the sum of N3 billion into the Federation Account between January and June 2026 making it N6 billion this year.
The agency said the feat was made possible due to diligence and leverage on the N500 billion investment into the agency before it was taken off the budgetary allocation platform of the federal government.
Managing Director of FHA, Hon Oyetunde Ojo made the disclosure in Abuja on Wednesday where he also revealed that he inherited the sum of 12 Billion deficit on assumption of office as outstanding salary arrears to staff.
He however stated that the agency applied carefully executed due diligence, hard work and discipline to clear off the deficit, cleared the backlog and restored confidence of workers.
He stated this when he received the award of Excellence from the Anti-Corruption Academy of Nigeria (ACAN) for accountability, intentionality for growth and transparency in leadership.
‘As of July 2026, we have remitted about N3 billion already to the federation account and by December we should be able to add another N3 billion making it N6 billion, this is what we have been able to achieve due to transparency and accountability. This is in addition to clearing over N12 billion deficit and backlog that we met.
‘Two years ago when I assumed the responsibilities of Managing Director and Chief Executive, I met an agency that was in dire strait , an institution that is heavily endowed with all the resources it takes to be very great but remained underperforming . I met an organization with some of the best brains in the built industry but were heavily ill-motivated.
‘Today’s award confirms that those efforts are bearing fruit. We have seen a measurable reduction in incidents and allegations involving Anti-Corruption agencies and that encouraging trend reflects deliberate policy choices, systemic reforms and a culture change within the authority .’ he further explained.
Earlier, the Provost of the institution, Professor Sheriff Ghali Ibrahim said the FHA MD displayed executional leadership reformative qualities that prompted the award.
Professor Ghali said, ‘I would like to congratulate you the managing Director and CEO, Hon. Oyetunde Ojo because of your particular distinguished style of leadership that we are here today. I know him as a man of simplicity, and I know him as a great leader and administrator and that is why the changes and the dynamic ambience of what is unfolding in this particular institution today, from jostling to courts, making the environment that was like a market, to emptying this particular environment and sanitizing the environment, also curtailing the levels of litigations.
‘Secondly, we at the ICPC established within the framework of the ICPC Act 2000. The ICPC is mandated to carry out three major functions, and these functions are one to prevent corruption in the country. I am using this particular preventive tool, the ICPC carries out system studies and reviews in all government ministries, departments, and agencies,’ he said.