The Inspector General of Police, Mohammed Abubakar, has given reasons for the recent deductions of police salaries, stressing that further deductions are coming up by the end of this month.
According to the number one policeman, the deduction is to facilitate the floating of a mortgage bank for the police, which will greatly improve the housing needs of every police personnel.
The bank will be in every state, since police personnel are widespread in the country.
Abubakar, who spoke through the Force Public Relations Officer, Frank Mba, said that the N5,500 deductions from the salary of all police personnel last month, was for the benefit of the personnel.
The floating of the police mortgage bank became necessary after policemen had repeatedly been disappointed and frustrated by National Housing Fund in access to loans for rent, buy or build a house.
The N5,500 deductions, which will run for only two months, will make every policeman a shareholder in the bank, thus entitled to a share certificate, loans and dividends.
The loan will be expected to assist any policeman to have a home of his own.
Last week, after police received their salaries, they had embarked on a protest, alleging that since Abubakar assumed office, he had cultivated the habit of deducting from their salary.
They revealed that the first time when he deducted N1,000 from all policemen’s salary, it was for the Police Games.
The latest is the N5,500 deductions, which is presently generating a lot of acrimony.
Few days after the deduction, they were all issued the Fokas forms by their superior officer, which was for the procurement of Fokas Savings and Loans Limited shares.
Mba said: “Loans from the Federal Mortgage Bank can only be accessed through established Mortgage Banks otherwise called Primary Mortgage Institutions (PMIs). The Nigeria Police Force subscribed to the National Housing Fund during the Administration of IGP Ibrahim A. Coomassie, in the year 1994 with deduction of NHF contributions from officers and remittance of same to the FMBN. This led to the establishment of the NHF Desk within the Force to harmonize/reconcile deductions and remittances.
“The Nigeria Police Force remains the highest contributor to the Federal Mortgage Bank! As at date, contributions by Police officers to the NHF and remittances to the FMBN total approximately N8billion. Unfortunately, the Nigeria Police Force has not benefited from the facilities available at the FMBN under the NHF Act while other Agencies and Corporate groups benefit from huge contributions of Policemen.
“Why? Because the Nigeria Police Force could not float a Mortgage Bank to easily access the required loans for its officers and men. Efforts of the Nigeria Police Force over the years, to establish a Mortgage Bank had been stalled by Administrative instabilities generally occasioned by frequent leadership changes. Apart from other technicalities and statutory requirements by the Central Bank of Nigeria and other Regulatory Agencies, the capitalization sum of N2.5 Billion for one State branch or N5B for a National Branch is required before a Mortgage Bank can be licenced. Considering the interests of the Police in accessing its huge contributions to the NHF, an entirely owned Mortgage Bank is needed to maximally protect the long-term housing initiative for generations of officers/men and even retirees.”
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