POLICE DEDUCTIONS: IGP distributes Shares Certificate to Shareholders, Encourages Officers to Invest.
By Festus Fifen
The Inspector General Of Police IGP Suleiman Abba has distributed Share Certificates to Officers and Men of the Nigeria Police Force who subscribed to Ordinary shares of the Police Mortgage Bank sometimes last year and have become automatic shareholders of the Bank.
Speaking during the event, IGP Suleiman Abba said that the Police Mortgage Bank has made it easier for Officers and men of the Force to access housing loans, and that the share certificates can also serve as a collateral to access loans from any other financial institution.
It would be recalled that the sum of Eleven thousand Naira (N11,000.00) Was compulsorily deducted from the emolument of all officers and men of the Force as a subscription fee for the ordinary share of the Police Mortgage Bank
In his words, “With our own mortgage Bank, we will be able to access the funds that we have been contributing in the National Housing Scheme or the National Housing Fund, it therefore means that the dream of every police officer including retired ones to access housing loans to build their houses will be much easier.”
He urged the management entrusted with the responsibility of managing the Mortgage Bank put in their best to ensure that it is a success story
He enjoined officers avail themselves of this opportunity to own houses and also to support him to ensure that the Police housing scheme is replicated in all the states of the Federation.
Speaking Earlier, the Chairman Board of Directors of the Nigeria Police Mortgage Bank, CP Usman Isa Baba, said that the Police Mortgage Bank as at today has an authorized share Capital of N5.5 Billion Naira out of which N3.95 Billion Naira is Fully subscribed by members of the Force who will start getting their share certificates from now.