Federal Mortgage Bank of Nigeria
FMBN recovers N5.4b debt, set for recapitalisation
In less than two years, the Federal Mortgage Bank of Nigeria (FMBN) has recovered N5.4billion bad loans from debtors. The loans - N2.4billion and N3billion were recovered in 2017 and 2018 respectively. FMBN Managing Director, Ahmed Dangiwa, an architect revealed that the bank used the services of recovery agents, who also restructure some debtors loans…
Dangiwa named mortgage finance person of the year sans decline
The Managing Director/Chief Executive Officer of the Federal Mortgage Bank of Nigeria (FMBN), Ahmed Musa Dangiwa has been named 2018 Mortgage Finance Person of the Year in the male category.
FG targets off-takers for N667m housing scheme in Lagos
Contributors to the National Housing Fund (NHF) may soon heave a sigh of relief as the Federal Government is set to deliver 112 units of one and two bedroom flats in Sedona estate in the Ikorodu axis of Lagos State. The N667 million project is a ministerial pilot housing scheme that has been conceived…
‘Delay in judicial process affects housing delivery’
There are growing concerns that the delay in Nigeria judicial process, especially in commercial matters has compounded the inadequate housing for Nigerians. The agitations on housing deficits date back to 1991, when Nigeria was said to have housing deficit of seven million units.
Apex mortgage bank targets 50 million new subscribers
Amid cconcerns that some contributors to the National Housing Fund (NHF) have not been able to access loans, the Federal Mortgage Bank of Nigeria (FMBN) has assured Nigerians that the amendment of the enabling legislations in the scheme would make it more robust and beneficial. Accordingly, the bank explains that the objective is to expand…
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…
FMBN, FIRS collaborate to boost housing fund contributions
The Federal Mortgage Bank of Nigeria (FMBN), is collaborating with the Federal Inland Revenue Service (FIRS), to enlist all corporate organisations to key into contributing to the National Housing Fund (NHF) Scheme.
Stakeholders seek creation of National Housing Council
A tentative outlines of the shape of things to come for housing and settlements development in Nigeria may have started to emerge, as key stakeholders last week ended it’s talk shop and endorsed a workable guide for the beleaguered sector in Abuja.
How FMBN can boost housing stock, by professionals
For The Vice President, Nigerian Institute of Building (NIOB), Mr. Kunle Awobodu, more efforts should be concentrated in tackling the bottlenecks associated with access to mortgages.