Abuja Reports

Creditors Demand ₦12B Salary Deductions from FG

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By Alexis Uchendu 

The Humanity Development and Empowerment Organisation (HDEO), a coalition of money lenders, has urged the Federal Government to remit ₦12 billion in loans deducted from civil servants’ salaries but not credited to creditors.

Speaking at a leadership handover ceremony in Abuja, outgoing National President Osita Nebolisa decried the situation, noting that while the funds were deducted through the Integrated Personnel and Payroll Information System (IPPIS), they remain unremitted.

He called on the new executives, led by National President Dele Apanisile, to address the issue with the Office of the Accountant General of the Federation.

“The non-remittance of these deductions has caused severe economic hardship for both lenders and workers.

“It is crucial for the incoming leadership to recover these funds and rectify the flaws in the IPPIS deduction system,” Nebolisa said.

Highlighting his tenure’s achievements from 2022 to 2024, Nebolisa cited the issuance of over ₦6.2 billion in loans to more than 2,400 federal civil servants and the signing of a Service Level Agreement with the Accountant General’s Office to ensure equitable access to credit.

The newly inaugurated executives vowed to prioritize the ₦12 billion remittance challenge while building on HDEO’s efforts to promote fair lending practices and financial inclusion.

HDEO includes commercial banks, microfinance banks, and other financial institutions, working collaboratively to support Nigerian workers and enhance the country’s credit ecosystem.

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