The Federal Mortgage Bank of Nigeria (FMBN) has concluded arrangements to expand the housing stock by financing a cumulative of 100,000 housing units and growing mortgages to N712 billion in 2024.
The Federal Mortgage Bank of Nigeria (FMBN) has earned a total sum of N294.1 billion as additional contributions to the National Housing Fund (NHF) in five years
25 Nov 2019
Industry leaders have argued that to significantly reduce estimated 22 million housing deficit, there is an urgent need to start a cooperative housing financing system to deliver affordable houses in the country.
4 Nov 2019
As the nation’s housing crisis continues to worry about the authorities, Nigeria’s largest Social Housing Fund - Family Homes Funds (FHF) has signed a Memorandum of Understanding (MoU) with pan-African housing finance institution, Shelter Afrique towards building more affordable homes in the country.
8 Oct 2019
Industry regulator, the National Pension Commission (PenCom), has said there will be a significant development in Nigeria’s housing sector if contributors devoted a percentage of their Pension Fund Assets (PFA) under management as equity injections for residential mortgages.
22 Jul 2019
Akwa Ibom State Governor, Mr. Udom Emmanuel, has pledged to work with the management of Federal Mortgage Bank of Nigeria (FMBN), to ensure that low and medium-income workers in the state own houses at retirement.
1 Jul 2019
Like a heavy cloud, a deep sense of disquiet now hangs over the mortgage sector, following new proposal by the Central Bank of Nigeria (CBN) to increase the capital base of banks. The CBN Governor, Godwin Emefiele, had recently laid out his five-year policy thrust that includes recapitalising the banking industry, so that banks can…
20 May 2019
Apex mortgage institution, Federal Mortgage Bank of Nigeria (FMBN) has disbursed a total of N23.3billion under its (HRL) Home Renovation Loan scheme. Out of this, N132.520 million has been given to members of Lagos State Public Servant Housing Cooperative. FMBN Managing Director, Ahmed Dangiwa who made this known during the presentation of the symbolic cheque…
3 Sep 2018
A new special purpose investment vehicle - Family Homes Funds (FHF) plans to support the development of over 500,000 homes and 1.5million jobs for the low income earners by 2023. FHF have the Nigerian Sovereign Investment Authority and the Federal Ministry of Finance Incorporated as founding shareholders. Through International recruitment firm – PriceWaterHouse Coopers, the…
6 Aug 2018
To deliver on its mandate of making housing finance more affordable and accessible, the Nigeria Mortgage Refinance Company Plc (NMRC) shareholders have approved the up scaling of the company’s debt issuance programme from N140 billion to N440 billion. The shareholders gave their nod at its Annual General Meeting held at the Eko Hotel, Victoria Island…
6 Aug 2018
A Pilotfeasibility study for the establishment of a mortgage guarantee scheme, which provides credit loss protection to lenders in case of borrower default, is underway. Tentatively christened Nigeria Mortgage Guarantee Company (NMGC), Central Bank of Nigeria (CBN) is promoting the scheme in collaboration with World Bank and other stakeholder partners under the Nigeria Housing Finance…