The Central Bank of Nigeria (CBN) has set the minimum capital requirement of N6 billion for the operation of Mortgage Guarantee Companies (MGC) in the country. In an exposure draft posted on its website, it pointed out that the licencing of MGC would deepen the mortgage banking sub-sector, through increased market access to mortgage finance and sharing of credit risk ...

The construction industry is in a critical situation and requires urgent reforms to make it function optimally andmore profitably, the President, Nigerian Institute of Quantity Surveyors, Mr. Obafemi Onashile, has said. Onashile said after agriculture, construction was the next biggest employer of labour, engaging at least five per cent of the workforce and about two per cent of the nation’s ...

In an effort to reduce housing deficit in the country, the Federal Mortgage Bank of Nigeria (FMBN) has inaugurated a housing programme in Nasarawa State to serve as a pilot scheme towards providing 1,400 units across the nation. The Managing Director/Chief Executive, FMBN, Ahmed Dangiwa, disclosed this at the ground-breaking of the FMBN, Nigeria Labour Congress, Trade Union Congress and ...

One time Big Brother Naija housemate, Alex Asogwa is counting her blessings as she recently inked an endorsement deal with real estate company, Jenesis Colony. Alex Asogwa The third runner-up of the widely acclaimed reality show took to Instagram to make the big announcement. She wrote: “Naomad Agency @naomadagency proudly announces the endorsement deal between Jenesis Colony @jenesiscolony1 and Alex ...

A federal High Court in Lagos has dismissed an application by Safetrust Mortgage Bank to regain its high-rise property, Safetower Estate, located in Ikate Lekki, Lagos. In an application filed before Justice Sule Hassan, the developer had urged the court to vacate its earlier order of forfeiture of Safetower to EFCC, pending the completion of investigation by the Economic and ...

You may find yourself asking if there can be other ways of buying property apart from the conventional way we all know. As is common, I would usually lace a lot of presentations and approaches with practical experiences that we’ve had as a company or that I know that other people, associates, or friends that we know in the industry ...

Gov. Udom Emmanuel of Akwa Ibom has commended the Federal Mortgage Bank of Nigeria (FMBN) for the 100 affordable housing units projects for civil servants in Akwa Ibom. Emmanuel expressed the state government’s gratitude while performing the groundbreaking ceremony of the housing project in Nsit Ibom on Thursday. The governor said the state was glad to witness the fulfillment of ...

The Economic and Financial Crimes Commission (EFCC) has released photos of a property which was wrongly acquired by the former Ekiti State Governor, Ayodele Fayose. Fayose surrendered himself to the anti-graft agency in Abuja on Tuesday, October 16, 2018. Reports show that the former Governor is still being interrogated by Economic and Financial Crimes Commission agents, 24-hours after he showed up at ...

Real estate courses are the solution to overcoming quack challenges in the real estate industry. Quacks exist everywhere. They are untrained persons, with claim to have the knowledge to deliver on a particular project or business deal. Yes, they may have worked for years and seem to have some know-how about the field of choice, but without going through adequate ...

The Plateau State Government yesterday awarded three contracts worth N5 billion for the construction of roads in Jos. The projects were sited in Anguwan Rogo, Tudun Wanda, Tina, Dutse uku and Chanyap all in Jos North Local Government Area of the state. The government awarded a contract of N1.5 billion to Letokem Nig Ltd for the construction of the Anguwan ...