Fire Destroys N500m Property At Federal Mortgage Bank

The Federal Fire Service says property worth about ₦500 million was destroyed in the fire that gutted parts of the Federal Mortgage Bank of Nigeria headquarters in Abuja, adding that its swift intervention saved assets valued at approximately ₦9.5 billion.

The Service disclosed this in a statement issued on Sunday by its National Public Relations Officer, DCF Paul Abraham, following the fire incident that occurred on Saturday night.

According to the statement, the fire, traced to an electrical surge, affected offices on the second floor of the two-storey building.

It said firefighters responded swiftly to the emergency, with reinforcement from the Wuse and CBN Fire Stations, while the Federal Capital Territory Fire Service, the National Emergency Management Agency and other emergency responders also joined the operation.

The statement read, “The Federal Fire Service successfully contained a fire outbreak at the Federal Mortgage Bank of Nigeria on the night of Saturday, August 1, 2026, preventing what could have resulted in extensive damage to critical national assets.”

It added, “Through the swift and coordinated intervention of the emergency teams, the fire was successfully brought under control, preventing it from spreading to other sections of the building.”

Eterna Posts 389% Profit Jump: Oil Marketer Rakes In ₦217.3B Revenue

Most Painful Experience At JAMB Was Seeing Parents Organise Exam Malpractice – Oloyede

How I Moved From Being Dollar Millionaire At 30 To Labourer At 35, Farooq Oreagba Reveals

Giving an assessment of the damage, the Service said, “Preliminary assessment indicates that property valued at about ₦500 million was affected by the fire, while assets estimated at approximately ₦9.5 billion were successfully protected from destruction.”

The Controller-General of the Federal Fire Service, Olumode Samuel Adeyemi, commended all responding agencies for their professionalism and teamwork during the operation.

“The Controller-General… commends all responding agencies for their professionalism, synergy, and commitment, which were instrumental in bringing the incident under control and minimizing losses,” the statement added.

The Service also urged individuals, organisations and property owners to carry out routine inspections and maintenance of electrical installations, noting that electrical faults remain one of the leading causes of fire outbreaks.

The fire incident occurred at the Federal Mortgage Bank headquarters, located opposite the Central Bank of Nigeria headquarters in Abuja. Initial reports on Saturday indicated that the blaze affected the upper section of the building before it was brought under control.

PUNCH