National Housing Fund
FMBN rallies NDIC on loan recovery in distressed banks
Already, FMBN has received and executed agreements in respect of six out of eight distressed Primary Mortgage Banks and hopes that with the support of the NDIC, the Bank’s funds in the affected PMBs would be recovered.
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.
How budget delay hinders housing delivery, by stakeholders
The country has between 17million and 18 million housing deficit and will need one million houses yearly to fill the gap. The delay is resulting in the loss of billions of naira in investments as there is no template for planning.
Imo NHF contributors to get allocation in new scheme
The FMBN financed 100 housing units under the Ministerial Pilot Housing Scheme at Naze, Owerri North Local Council to the tune of N592.3 million and approved NHF’s loans of N5 million, for prospective subscribers.
FMBN urges N500b recapitalisation, seeks compliance with housing scheme
National Housing Fund (NHF) Acting Managing Director of the Federal Mortgage Bank of Nigeria (FMBN), Mr. Richard Esin, has urged the Federal Government to re-capitalise the FMBN from its current capital base of N2.5 billion to N500 billion.
Report proposes N1 tr fund for housing
A new report has urged the Central Bank of Nigeria (CBN) to establish a special fund, to the tune of N1 trillion to galvanise the housing sector.The 22-page document authored by the Centre for Social Justice...
FMBN, mortgage banks in talks to deepen NHF operations
Recently, FMBN had called on the Economic and Financial Crimes Commission (EFCC) to wade debts owed the organisation, especially misappropriated contributory funds under NHF.