Tag Archives: CBN

The reports that the headquarters of the Central Bank of Nigeria (CBN building) is on fire are false, says the CBN acting Director, Corporate Communications, Mr. Isaac Okorafor. According to Okorafor, the rumor started when a passersby saw a pall of exhaust from the CBN generator house and mistook it for fire. “The CBN maintains a total security system that ...

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 ...

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 ...

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 ...

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 ...

N10 billion have been revealed by the Nigeria Police Force to be contributed in remittances to the National Housing Fund since the inception of the scheme. The Inspector-General of Police, Mr Ibrahim Idris, disclosed the information at the inauguration of the Nigeria Police Mortgage Bank Cash Centre and ATM gallery in Abuja. Mr Ibrahim said that the aim of the ...

“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 ...

“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 ...

“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) ...

“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 ...