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Tag Archives: CBN

“Release my seized property”, Businessman begs EFCC

Businessman

Ikeja – Following his acquittal of fraud charges, a businessman, Mr. Alex Ikpeme, has asked the Economic and Financial Crimes Commission (EFCC) to unfreeze his bank accounts and release his seized property. Ikpeme acquitted of a six-count charge bordering on stealing and making false statements to officials of the EFCC. The News Agency of Nigeria (NAN) reports that the judgment ...

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Couples now have easy access to joint mortgage loans – Pencom

Pencom for couples

Couples who have retirement Savings Accounts with Pension Fund Administrators will be allowed to use their savings to apply for joint Savings under the Contributory Pension Scheme. According to a report obtained by newsmen from the National Pension Commission titled: ‘Accessing RSA via residential mortgage option’, the spouses must meet laid down requirements, and will start accessing the loans when ...

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FMBN urges primary mortgage banks to harmonise their interest rates

interest rates

The managing director/chief executive of Federal Mortgage Bank of Nigeria (FMBN), Arc. Ahmed Musa Dangiwa has called on Primary Mortgage Banks (PMBs) to harmonise their interest rates in order to conform to the laid down uniform underwriting standards. He also enjoined PMBs to spread their branches to cover the entire country for easy access of mortgages by Nigerians. He stated ...

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MBAN plans non-interest mortgages, seeks for intervention fund

MBAN plans non-interest mortgages, sMBAN plans non-interest mortgages, seeks for intMBAN plans non-interest mortgages, seeks for interMBAN presidentvention fundervention fundeeks for intervention fund

Gearing up for a veritable funding source for the sub-sector, mortgage operators (MBAN) have moved to explore the suitability, applicability and the possibility of adopting the non-interest mortgages to unlock the potentials of the Sukuk model. The operators, under the aegis of the Mortgage Banking Association of Nigeria agreed in a seven-page communiqué after its chief executive officers retreat in ...

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Emefiele identifies bottlenecks in mortgage sector

mortgage sector

“The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele has identified various bottlenecks hindering genuine investors and by extension free flow of funds into the mortgage sector.”- This Day The central bank governor while delivering a keynote address at a workshop for judicial officers on mortgage, with the theme: ‘Mortgage Disputes in Nigeria: The Need for Expeditious Resolution of ...

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CBN spearheads housing finance to aspiring homeowners

CBN spearheads housing finance to aspiring homeowners

“The Central Bank of Nigeria (CBN) is spearheading a new scheme targeted at providing improved access to housing finance to aspiring homeowners.”- Daily Post The initiative would have a tenor of 15 years to 25 years, depending on the age of the borrower, their income and desired tenor and would be available to eligible applicants with insufficient or no equity ...

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Banks-owned landed property up for sale

Banks-owned landed property up for sale

“The last is yet to be heard of the impact of recession in the country as financial institutions, especially commercial banks have begun to sell their idle landed property in major urban centres to cushion the liquidity shortage in the sector. The Guardian learnt that some of the banks engaged in mergers and acquisitions with Assets Management Corporation of Nigeria (AMCON) ...

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Surveyors canvass use of local building materials

local building materials

“Except urgent measures are taken to encourage the use of local building materials, the construction industry will remain in doldrums, stakeholders have said.”- The Nation They spoke at the ninth Annual Distinguished Lecture of the Nigerian Institute of Quantity Surveyors (NIQS), Lagos Chapter. At the lecture themed: “Foreign exchange problems, prospects and solutions in Nigeria: Construction industry perspective,” participants called ...

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REDAN pushes for development of property data

low cost housing

“Worried by the dearth of accurate data for necessary action plan in the housing sector, the Real Estate Developers Association of Nigeria (REDAN)  is initiating strategy to provide solution to the challenge of housing deficit.”-Nigerian Tribune The moves by REDAN to provide a solution to the challenge of housing data was made known by its President, Rev. Ugochukwu Chime,   at ...

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