Federal Mortgage Bank refunds N12bn wrongful deductions

The Federal Mortgage Bank of Nigeria has refunded N12bn out of the outstanding N19bn wrongful deductions of the National Housing Fund contributors. The deductions were misconstrued as revenue under the 40 per cent deduction regime of revenue accruing to federal agencies. The Managing Director/Chief Executive, of FMBN, Mr. Shehu Osidi, disclosed this at the FMBN