Tag Archives: CBN

Just recently, the CBN Governor, Godwin Emefiele revealed plans in unifying the naira’s currency exchange systems around the NAFEX rate. The Central Bank Governor said this at an Investors Conference organised by CitiBank. Nairametrics spoke exclusively to business leaders in various fields of expertise on Nigeria’s central bank move to implement the naira’s unification, and they, in various opinions expressed ...

The Housing Development Advocacy Network (HDAN) has described the N20 billion approved by President Muhammadu Buhari through the Central Bank of Nigeria (CBN) for the renovation of National Art Theatre, Lagos, as “outrageous”. It would be recalled that the Bankers Committee, an umbrella body of CEOs of commercial banks and the CBN officials is expected to spend the N20 billion ...

Shortly after the recent unveiling of a five-year roadmap by the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, the bank has issued directives to improve real sector lending and financial inclusion. In a circular dated July 3, 2019, the CBN mandated all Deposit Money Banks (DMBs) operating in Nigeria to maintain a minimum Loan to Deposit Ratio ...

HOUSING LAW Five states of the federation are expected to conclude the passage of their draft housing bills into law before the end of year. Findings by our correspondent show that Ogun, Osun, Kebbi, Plateau and Edo states are at various stages of passing the law, which is expected to improve access to mortgage and homeownership for their residents. The ...

Stakeholders in Nigeria’s housing sector have expressed worry over the fate of the nation’s Primary Mortgage Banks (PMBs) following the N13 billion new capital requirements set for them by the Central Bank of Nigeria (CBN). Their anxiety stems from the fact that most of the primary mortgage institutions are still struggling to cope with the previous N2.5billion capital base, which ...

With a whopping N16 trillion from Central Bank of Nigeria (CBN), the Pension Scheme, Mortgage institutions and other related financial services organisations, Nigeria’s housing sector is set to receive a boost. Efforts are being made to allow pension contributors to access 25 per cent of the savings in their respective Retirement Savings Accounts(RSAs) for mortgage finance. In order to facilitate ...

Plans are underway to allow pension contributors access 25 per cent of savings in their respective Retirement Savings Accounts (RSAs) for mortgage finance. The new arrangement is to enable the federal government close over N16 trillion housing deficit in the country. Vice President Yemi Osinbajo had in November 2018 hinted that Nigeria’s present housing deficit stood at a staggering 20 ...

Paul Ogwuma, former governor of the Central Bank of Nigeria (CBN) and his wife have acquired property worth £33 million (N15.6 billion), a UK investigative journalism magazine has revealed. According to the magazine, Private Eye, Ogwuma, who served as CBN governor for six years has “amassed a £33m British property empire”. In its report titled “Abuja on Thames” the paper ...

Amidst growing concern that the efforts of government agencies to tackling housing deficit in the country is grossly insignificant, the recent launch of the rent-to-own housing scheme by the board of the Federal Mortgage Bank of Nigeria, (FMBN) may make housing more affordable for Nigerian workers who cannot build or buy homes from their meagre income. The scheme is seen ...

The Central Bank of Nigeria (CBN) has published the list of thirty-four (34) entities as licensed primary mortgage banks in Nigeria as at the month ended September 30, 2018. The list released by CBN yesterday revealed that eighteen (18) firms or fifty-three (53%) per cent (approx.) of the licenced PMBs operate out of Lagos (In our review of the table, ...