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Mortgage Finance

8 Feb 2016
CASH-STRAPPED Primary Mortgage Banks (PMBs) – hard pressed to provide long-term funds for prospective homeowners, have turned to the Central Bank of Nigeria (CBN) for facility with which to jump-start their operations. Citing unfavourable business environment, the Chief Executive Officers (CEOs) of mortgage banks in Nigeria under the auspices of Mortgage Banking Association of Nigeria…
8 Feb 2016
FOR claiming to have illegally acquired their land measuring 7.5 hectares, the Adugotu Family of Opolo, Yenagoa, has sued the Bayelsa State Government, seeking a repossession of its landed property. The disputed land, valued at over N1 billion at current rate, is situated in a choice area of the state capital at the junction of…
8 Feb 2016
IN a bid to reduce housing deficit and provide affordable housing for the average Nigerian homeowner, Lafarge has launched the first phase of the new Makun city in Sagamu interchange. The houses which are a three bedroom bungalow of ten units were built in partnership with the Ogun State Property Investment Corporation (OPIC) and commissioned…
8 Feb 2016
BETTER days may be in the offing for prospective homeowners if the developments last week in the housing industry are anything to go by. Lagos authorities plan to review its projects in two locations to boost homeownership in the state. The state government is also planning to reduce housing deficit in Lagos, as a study…
8 Feb 2016
AS controversy continues to surround the rightful owners and management of the biggest manufacturing company of aluminium in Nigeria, otherwise known as Aluminium Smelter Company of Nigeria (ALSCON), a firm, Dayson Holdings Limited, has approached a Federal High Court, seeking for protection of its investment in the company. Dayson Holdings Limited and ALSCON, being the…
1 Feb 2016
FOLLOWING the slight  lull in the activities  in the housing industry and the onset of  fall in oil prices, which is apparently blowing over, experts  have called on  professionals to jettison competition for few significant development  in the sector this year, but rather synergise with each other in projects.   They also agreed that the…
1 Feb 2016
STIRRED by the need to improve its prospects for sustained growth and development, members Nigerian Institution of Surveyors (NIS), Lagos Branch have advocated for effective  professionals’ involvement in policy formulation and execution.    They spoke at the 11th Annual Adekunle Kukoyi Memorial Lecture, last week organised by the institution that attracted stakeholders including members of the…
1 Feb 2016
IN the wake of Lassa fever outbreaks, the Pest Control Association of Nigeria (PECAN) has called on Nigerians to be very cautious on using rodenticides (rat poisons) as the only rodents control measure in their buildings and vicinity. The group alleges that some Nigerians may have rushed to procure rodenticides, which are brazenly displayed on…
1 Feb 2016
ON the heels of the historic international climate agreement in Paris, more than 500 global investors gathered last week at the United Nations to begin mobilizing the trillions of dollars needed to catalyze the global clean energy transition. Speaking just days after scientists confirmed that 2015 was the hottest year on record, UN Secretary-General Ban…

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3 mins ago
Antigua and Barbuda prime minister Gaston Browne said the authorities will arrest a Nigerian couple who are thought to be fleeing to the country after pulling off a N22billion fraud in Nigeria. Antigua Observer reported that Browne spoke in response to claims that the Nigerian couple Bamise and Elizabeth Ajetunmobi had obtained citizenship from Antigua…
5 mins ago
Hundreds of secondary school pupils demonstrated outside the Democratic Republic of Congo's parliament on Thursday, calling for lessons to resume three weeks into a teachers' strike. "We want to study," the children chanted as they stormed up the steps and into the debating chamber. Videos shared by journalists on social media showed them being met…
38 mins ago
Initial applications for US jobless aid dipped again last week, falling to a new pandemic low, according to government data released Thursday. New unemployment claims fell 6,000 to 290,000, seasonally adjusted, in the week ended October 16, the lowest level since March 14, 2020 when it was 256,000. That was before the spread of Covid-19…
47 mins ago
The International Monetary Fund on Thursday forecast that Africa's economic rebound from pandemic-induced shrinkage would be weaker than in the rest of the world in 2021 and 2022. Low rates of vaccination against Covid-19 across the continent top the list of reasons for the slower recovery, the Washington-based institution said in a biannual report on…
58 mins ago
An FCT High Court sitting in Jabi on Thursday ordered that the former board chairman of Nigeria Social Insurance Trust Fund (NSITF), Ngozi Olejeme, be remanded in the Economic and Financial Crimes Commission’s ( EFCC) custody, until Friday. The judge, Justice Maryam Hassan gave the order after listening to both counsel submissions on the defendant’s…