Home » Tag Archives: CBN (page 2)

Tag Archives: CBN

CBN intends to revoke 154 microfinance banks’ licences, 28 others

licences

The Central Bank of Nigeria on Wednesday gave a notification to revoke the operating licences of 182 other financial institutions in the country. According to the list released by the regulator on Wednesday, 154 of the affected institutions are microfinance banks; six are primary mortgage banks; while the remaining 22 are finance companies. The CBN said 62 of the microfinance ...

Read More »

FMBN commences Rent To Own Pilot Scheme With 3000 Houses Nationwide

rent-to-own

The Federal Mortgage Bank of Nigeria Board has approved the implementation of the Rent-To-Own pilot housing scheme to begin with 3000 houses nationwide. A statement signed by Zubaida Umar, FMBN Corporate Communications Group Head, on Sunday in Abuja, stated that the scheme was a strategic move designed to make home ownership more accessible and affordable for Nigerian workers. The FMBN ...

Read More »

CBN expresses concern over Land Use Act

Land Use Act

Even as the Central Bank of Nigeria (CBN) has taken some steps towards boosting housing provision, Nigerians are gaining momentum. The 1978 Land Use Act, however, remains a major impediment towards achieving the target. In mid-2017, the CBN launched its Nigerian Housing Finance Programme (NHFP), popularly known as “My Own Home. The scheme, a Public-Private Partnership (PPP) arrangement, is targeted ...

Read More »

CBN introduces dispute resolution platform for mortgage banks

CBN

In a renewed effort to build public confidence as well as engender soundness and stability in the mortgage banking sub-sector of the Nigerian banking industry, the Central Bank of Nigeria (CBN) has established a Sub-committee on Ethics and Professionalism for Mortgage Bankers. The sub-committee which is a self-regulatory body is the Alternative Dispute Resolution (ADR) Platform/Financial Ombudsman for the mortgage ...

Read More »

NMRC urges FG to ease bureaucracy in property development

NMRC

NIGERIA Mortgage Refinancing Company (NMRC) Monday urged state governors to lighten the process of granting consent to property development. Speaking at a conference on seeking finance for the mortgage in Nigeria which held in Abuja, a director at NMRC, Mrs. Chii Akporji said modern mortgage requires certain steps that state governments need to take in order to create the enabling ...

Read More »

AMCON recovers N731 billion in seven years

The total recoveries by the Asset Management Corporation of Nigeria (AMCON) since its inception in 2010 till December 2017 rose to over N731 billion, the Managing Director/Chief Executive Officer of the agency, Ahmed Kuru, said on Thursday. Mr. Kuru who disclosed this in a statement sent to the spokesperson of AMCON, Jude Nwauzor, said a bulk of the recoveries were ...

Read More »

FG deploys over N5 trillion pension funds in infrastructure

pension

Eleven years after it was created, the Federal Government and states have cornered over N5 trillion from workers’ pension contributions under the Contributory Pension Scheme for infrastructure development and other financial commitment. The amount received through investment in their various capital market instruments represents over 70 per cent of the N8 trillion pension assets currently being managed by Penson Fund ...

Read More »

AMCON lauds CBN on new lending policy

AMCON

The Managing Director of Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Kuru, has commended the directive of the Central Bank of Nigeria (CBN) compelling commercial banks to lend the real sector for economic growth. Kuru stated this at the Institute of Directors (IoD) 2018 luncheon held in Lagos. The Managing Director of AMCON also noted that lending to the ...

Read More »
https://nigeriarealestatehub.com/wp-content/uploads/2023/09/terrapy-3.0-banner-900-X-90-scaled.jpg