STAFF HOUSING SCHEME

ABOUT STAFF HOUSING SCHEME

The Staff House Scheme Loan Board was established under the Finance Edict of 1988 to cater for the housing needs of participating Civil Servants. Over the years, the Scheme has gone through series of transformation until recently when the new Staff Housing Scheme policy was enacted. Below is the workings of the Staff Housing Scheme Board:


PARTICIPATION

Membership of the Scheme is open to Staff on Salary Grade Level 04 and above in the core Civil Service and Government owned parastatals


PROCEDURE FOR MEMBERSHIP

An intending member of the Scheme has to apply through his/her office to the Secretary, Staff Housing Scheme Board who is the Administrative Head of the scheme. The Secretary after scrutinizing the application will issue an enrolment letter to the applicant and copy sent to the Permanent Secretary or Head of Parastatal of the applicant’s office to commence 10% deduction from his/her salary, to the Scheme. A copy of this letter will be endorsed to the Accountant General and the Auditor General of the State.

Commissioner

ELIGIBILITY FOR LOANS

A participant of Staff Housing scheme must contribute 10% of his/her salary for at least 5 years (OR) 25% of loanable amount to the Scheme before he/she is qualified to collect Staff Housing Scheme Loan.


PROCEDURE

Eligible participant must apply for loan to the Secretary. The Secretary will place the application before the Board for consideration. On acceptance by the Board, the Secretary will issue an approval letter to the applicant who will enter into agreement with the Board. A payment letter will then be issued to the Accountant General to pay the approved loanable amount to the applicant after necessary processes.


RECOVERY OF THE LOAN

The LIM Section of the Accountant General’s office will compute the total contribution by a beneficiary plus 3% interest thereon and subtract same from the loan collected which also attracts 3% interest. The balance will then be spread into sixty (60) installments (5 years) and deducted from beneficiary's salary. If a Loan benificiary retires from service or dies before completing the repayment, the balance is recovered enbloc from the gratuity of such beneficiary.

PRESS RELEASE

AKSG TASKS MICRO FINANCE BANKS ON AGGRESSIVE LOANS RECOVERY
Akwa Ibom State Government has tasked Managing Directors of Micro Finance Banks in the State to embark on aggressive recovery of the non-interest loans...read more
FINANCE COMMISSIONER ADVISES CITIZENS TO EMBRACE AGRICULTURE TO ENSURE FOOD SUFFICIENCY
The Commissioner for Finance, Mr. Linus Nkan has advised Akwa Ibom people to embrace agriculture to ensure food sufficiency and to forestall untold hardship...read more
STATE GOVERNMENT HARPS ON IMPROVED REVENUE GENERATION BY MDAs
The Commissioner of Finance, Mr Nsikan Nkan has harped on the need for Ministries, Departments and Agencies of Government to improve on their revenue...read more

SERVICE DELIVERY STANDARD;

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  3. Publicity disseminating information that will foster transparent and forthrightness in all our dealings;
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  5. Being efficient in our use resources;
  6. Being accountable for our actions and deeds as they relate to you;
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  8. Ensuring that the quality of our services remains top – class by incorporating relevant development in information and communications technology in our business process;
  9. Constantly dialogue with you on matters affecting you relative to the service we deliver;
  10. Listening and give serious consideration to all suggested ways of improving our services.

NEWS

Our Vision

To maintain the required management capacity and institutional framework for effective and efficient application of financial resources in an accountable and transparent manner; and to instill due process in Government financial transactions to ensure probity, value for money, transparency, and accountability in public expenditure.

Our Charter

In accordance with our core values, our charter states our commitment to consistently provide excellent service to our clients. It also pledges to achieve this effectively and efficiently with the highest standard of integrity, transparency, probity, accountability and value for money. To us, the charter is much more than a statement of our commitment to quality

Our Core Values

Teamwork
Integrity
Commitment
Efficiency
Excellence