Four states adopt NMRC’s draft mortgage foreclosure law
Hopes of realizing the mortgage-backed housing dream brightened recently, following the adoption of the Nigeria Mortgage Refinance Company (NMRC) pioneered draft model mortgage foreclosure law by four states in the country.
Stakeholders urge repeal of FMBN Act
Stakeholders in mortgage industry have called for the repeal of the existing Act establishing Federal Mortgage Bank of Nigeria (FMBN) to give room for its comprehensive re-establishment and strengthening of its board. They also sought for the establishment of Institute of Mortgage Brokers and lenders of Nigeria (IMBLN) for the regulation of the sector’s activities…
Lagos High Court hears suit on Ikeja mortgaged property
Legal battle over the soul of the landed property situate at 5, Oduduwa Street, GRA Ikeja, Lagos between the Administrators of the Estate of the late Samuel Iyiola Omotoso, Ecobank Nigeria Plc and Registrar of Titles, Lagos State resumed today,....
Bad loans push Shelter Afrique to $2.16m loss
Troubled mortgage lender Shelter Afrique has reported a $2.16 million net loss for the six months ended June, compared to a net profit of $1.65 in the same period a year ago on the back of increased provisions for bad loans.
Rivers partners developer in 3,000-unit estate
On his part, the Chief Executive Officer of Sammya Nigeria Limited, Mr. Sammy Adigun, said their priority is to deliver quality job on schedule, while he promised to mobilize to site within the next three weeks.
Experts back cooperative model for housing financing
They spoke at the Lagos Development Envison Lab (LAGDEL) hosted by the Arctic Infrastructure and the Heinrich Boll Stiftung Nigeria in which young professionals in the built environment and youth from different low-income communities in Lagos were pre selected.
Controversy trails plan to sell Nasarawa property in three states
The party further alleged that attempt by Governor Almakura and his commissioner of Finance Ayuba Dogara to liquidate the Nasarawa Investment and Property Development Limited is not in accordance with the company and allied matter act.
Mortgage industry’s low profitability level discourages investors
The Federal Mortgage Bank of Nigeria (FMBN) is the custodian of NHF while Primary Mortgage Banks (PMBs) are the conduits through which the funds are disbursed to individual beneficiaries.
Group, experts chart path for low-income housing
Programme Manager of Heinrich Boell Stiftun, Mrs. Monika Umunna, stressed that housing is one of the biggest issues all over the world, which has led to middle income earners and low-income earners having a big challenge of...