The Federal Mortgage Bank of Nigeria (FMBN) says the Integrated Personal Payroll information System (IPPIS) failed to remit N26.6 billion of workers contributory funds in two years.
Mr Madu Hamman, Managing Director of FMBN, said this on Thursday in Abuja while appearing before the House of Representatives Ad hoc committee probing the non-remittance to the National Housing Fund (NHF) and Utilisation.
According to him, from October to December 2022 there were 40 per cent unremitted payments to FMBN resulting from revenue drive by the Federal Government and a total of N11.6 billion was involved.
From January to December 2022, N11.5 billion was not remitted as backlog payments for MDAs from IPPIS, while N3.3 billion was not remitted from April to July 2021 as outstanding failed payments for 2021 from IPPIS,” he said.
Daily trust reports that Hamman explained that some NHF payments meant to be paid to FMBN as housing contributions had been wrongly made into the Federal Government Loan and Scholarships Board, adding that 14 MDAs were affected by the wrong payments.