FHA Remits ₦3bn to Federation Account, Clears Salary Debt

The Federal Housing Authority (FHA) reported a remittance of ₦3 billion to the Federation Account in the first half of 2026, marking a significant financial turnaround after years of underperformance. Oyetunde Ojo, the Managing Director and Chief Executive Officer of the FHA, announced this on Wednesday at the agency's headquarters in Abuja.

He projected an additional ₦3 billion remittance by year-end, driven by over ₦500 billion in investments managed by the FHA following its exit from the Federal Government’s budgetary allocation system. Ojo also revealed that he inherited ₦12 billion in unpaid salary arrears and liabilities upon assuming office two years ago, which has now been fully cleared through prudent financial management.

The reforms have restored workers’ confidence and positioned the FHA for financial sustainability. Ojo received an Excellence Award from the Anti-Corruption Academy of Nigeria for the agency's commitment to accountability and transparency, highlighting the significant decline in corruption-related allegations due to policy reforms and stronger internal systems.