The Federal Housing Authority has remitted about N2.9bn to the Federal Government’s Consolidated Revenue Fund, a development its Managing Director and Chief Executive, Oyetunde Ojo, describes as a turnaround from “near financial collapse” to a strong revenue-generating institution.

Ojo disclosed the figures during a town hall meeting with staff at the Authority’s headquarters, where he outlined reforms aimed at restoring financial stability and addressing long-standing career stagnation within the agency.

He revealed that some employees had remained on the same grade level for as long as 13 years, a situation he condemned as unjust and demoralising. According to him, management recently concluded a comprehensive promotion exercise covering Grade Levels 1 to 17, recording a pass rate of between 60 and 70 per cent.

In what he described as an unprecedented step, Ojo said ministerial approvals for the promotions were secured within 48 hours. He stressed, however, that the Authority would only promote staff in line with its capacity to meet the accompanying financial obligations, insisting that “promotion must be backed by our capacity to pay.”

To absorb newly promoted officers and close critical gaps, the FHA has proposed the creation of four new departments to the Ministry of Housing and Urban Development. The planned units are Revenue Mobilisation and Consultancy, Facility Management, an upgraded Information and Communications Technology department, and an expanded Board-level structure, each to be headed by a General Manager.

Ojo reaffirmed the Authority’s alignment with President Bola Tinubu’s mandate on affordable housing, announcing that the 380-unit Bwari Estate is being prepared for commissioning, while a 1,550-unit housing project for the Nigerian Army is underway. He pledged that no FHA project would be abandoned, framing housing delivery as central to dignity, stability and national development.

Alongside the financial and structural reforms, the MD warned against lax work ethics, criticising staff who “clock in late and clock out early.” He ordered strict adherence to an eight-hour workday and directed personnel at Zuba, Bwari and Guzape to report first to the head office before proceeding to site locations.

To support staff mobility, the Authority has begun deploying a new fleet of vehicles, with additional coaster buses planned to ease transportation to project sites as the reform agenda gathers pace.