FG Plans Seizure of Retirees Houses Who Failed to Repay Housing Loans
FG Plans Seizure of Retirees Houses Who Failed to Repay Housing Loans
The Federal Government of Nigeria has announced plans to seize the properties of retirees who have failed to repay their housing loans.
This move is aimed at recovering billions of naira in unpaid loans that were borrowed by the retirees from the Federal Government’s housing loan scheme.
According to a statement released by the Federal Ministry of Housing, the government has been left with no choice but to take drastic measures to recover the debts, which have been outstanding for several years. The statement warned that retirees who have failed to repay their loans will have their properties seized and sold to recover the debts.
“The Federal Government has been very lenient with retirees who have failed to repay their housing loans, but it has become clear that some of them have no intention of paying back the loans,” the statement read. “We have tried to negotiate with them, but they have refused to cooperate. We are now left with no choice but to take drastic measures to recover the debts.”
The statement further revealed that the Federal Government has already identified over 10,000 retirees who are owing a total of N50 billion in unpaid housing loans. The government has vowed to seize the properties of these retirees and sell them to recover the debts.
This move has sparked outrage among retirees, who have accused the government of being insensitive to their plight. Many of them have argued that they are struggling to survive on their meager pensions and cannot afford to repay the loans.
“This is a very sad development,” said Mr. John Okoro, a retiree who is owing N5 million in unpaid housing loans. “We are not trying to cheat the government, but we are struggling to survive. The government should find a way to help us, rather than seizing our properties.”
The National Union of Pensioners (NUP) has also condemned the government’s plan, describing it as “cruel and inhuman.” The union has threatened to embark on a nationwide protest if the government goes ahead with the plan.
“We will not allow the government to seize the properties of our members,” said the NUP President, Mr. Abel Afolabi. “We will fight this plan with every fiber of our being. The government should find a way to help our members, rather than punishing them.”
The Federal Government has, however, insisted that it will go ahead with the plan, saying that it is necessary to recover the debts and prevent further losses.
