The Minister of Housing and Urban Development, Engr. Muttaqa Rabe Darma, has assured Nigerians that no critical records or customer data were lost in the fire incident that affected a section of the Federal Mortgage Bank of Nigeria’s (FMBN’s) headquarters in Abuja on Saturday, August 1, 2026.
The Minister gave the assurance on Tuesday during an inspection of the affected section of the Bank’s headquarters, where he received briefing from the Bank’s management and technical personnel on the incident, the extent of damage and measures taken to ensure continuity of operations.
He noted that the fire was contained within a section of the second floor of the building and disclosed that preliminary findings suggest it was most likely caused by an electrical fault, although investigations by relevant experts were still ongoing.
The Minister, however, emphasised that anyone found to have been negligent in the discharge of their duties, following the conclusion of ongoing investigations, would be held accountable.
He commended FMBN’s successful digital transformation, noting that the Bank’s cloud-based data backup system had safeguarded critical records and ensured uninterrupted access to customer information and operational documents despite the incident.
Assuring Nigerians that the Bank was fully operational, he said, ‘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.’
The Economic and Financial Crimes Commission (EFCC), on Tuesday, revealed that Nigeria lost more than $500 million to cybercriminals in one year alone.
The anti-graft agency also disclosed the real reasons many public servants resort to corrupt practices, saying workers’ earnings cannot adequately meet their basic needs.
Ola Olukoyede, the Chairman of the EFCC, disclosed this at the headquarters of the commission in Abuja when the Managing Director of the Consumer Credit Corporation (CREDICORPS), Uzoma Nwagba, visited him.
Speaking during the visit, the EFCC boss linked the rising wave of cybercrime among young Nigerians to poverty and limited educational opportunities, saying such development necessitated the establishment of the NELFund.
He said, ‘In 2022 alone, we lost over $500 million to the activities of cyber criminals, most of whom are young people who are supposed to be in school. We are not just interested in sending them to jail.
‘When we interrogate some of them, they tell us, we want to go to school. We want to graduate with a certificate, but we cannot afford it. That was how the idea of NELFund came, and we said that we needed to support the Fund.’
Commenting on why public servants have a propensity for corrupt practices, he listed housing, transportation, education and feeding for children as some of the basic needs they can no longer meet.
He explained that if workers could access affordable mortgages and consumer loans repayable over a long period, the pressure to acquire wealth through illicit means would be greatly reduced.