# FMBN Delays NSCDC Ondo Housing Funding

The Federal Mortgage Bank of Nigeria (FMBN) has not released additional funds to support the N498 million housing project for Nigeria Security and Civil Defence Corps (NSCDC) personnel in Irese, Ondo State, despite a directive from the Minister of Housing and Urban Development in 2024 to restructure and finance the project. This delay has stalled construction of 97 three-bedroom bungalow units awarded in June 2020 to Catell Construction Nigeria Ltd, leaving the project incomplete and beneficiaries dissatisfied. The situation highlights challenges in government-backed housing procurement, including funding shortfalls and project management inefficiencies that risk cost escalations and delivery failures.

- Procurement professionals should note the critical impact of delayed funding on project timelines and contractor performance in public housing initiatives.
- Contractors and vendors must assess financial risk and payment assurance when engaging with government-backed housing projects in Nigeria.
- Agencies involved in housing development may need to strengthen oversight and enforce ministerial directives to ensure timely disbursement and project completion.
- This case underscores the importance of clear communication and coordination between ministries, funding bodies, and contractors to mitigate delays and protect project beneficiaries.

**Jurisdictions:** federal
**Industries:** Construction & Infrastructure
**Topics:** Physical Infrastructure
**Published:** September 24, 2026

### Government Entities
- Federal Mortgage Bank of Nigeria (FMBN)
- Nigeria Security and Civil Defence Corps (NSCDC)
- Federal Ministry of Housing and Urban Development
- Nigerian Senate

### Vendors
- Catell Construction Nigeria Ltd (prime contractor)

### Sources
- [EXCLUSIVE: N498m NSCDC Housing Project In Ondo Stalls As Nigeria’s Federal Mortgage Bank Allegedly Ignores Minister’s Directive | Sahara Reporters](https://saharareporters.com/2026/09/24/exclusive-n498m-nscdc-housing-project-ondo-stalls-nigerias-federal-mortgage-bank) - Sahara Reporters