Tag Archives: commercial banks

Mortgage and commercial banks’ lending to the real estate sector has continued a steady growth in the last three years despite the downturn in the economy, a sectorial breakdown of banks’ credit to the private sector has shown. Banking credit to private sector data sourced from the National Bureau of Statistics (NBS) and a survey of developers showed that the ...

Some stakeholders in the housing sector on Tuesday in Abuja called for stiffer penalties against violators of the National Housing Fund (NHF) Act. They made the call at a two-day public hearing on a motion on the need to ensure full compliance with the National Housing Fund Act for effective housing delivery in Nigeria. Mr Oluseyi Lufadeju, a trustee at ...

Architect Ahmed Musa Dangiwa is the Managing Director and Chief Executive Officer (MD/CEO) of the Federal Mortgage Bank of Nigeria (FMBN). In this interview he expounds on the mortgage sub-sector and happenings in the bank in the nearly six months he has been on the saddle. When you came on board in April you said you wanted  to develop a ...

“The Federal Mortgage Bank of Nigeria (FMBN) has engaged the assistance of the Nigeria Deposit Insurance Corporation (NDIC) for the recovery of its funds trapped in distressed Primary Mortgage Banks (PMBs) and liquidated commercial banks in the country.”- The Guardian Already, FMBN has received and executed agreements in respect of six out of eight distressed Primary Mortgage Banks and hopes ...

“In a bid to proffer solutions to the nation’s housing deficit, a property consultant, Mr Afolabi Solesi, has advised commercial banks to assist in revamping the nation’s mortgage market for efficiency.”- The News Solesi, a former Chairman, Nigeria Institution of Surveyors (NIS), Lagos Chapter, gave the advice in an interview with the News Agency of Nigeria (NAN) on Wednesday in ...

The Tide reports that an Estate Surveyor and Valuer, Hannibal Adodo, has blamed commercial banks in Nigeria for low real estate investments, as compared to other developed countries of the world. He also indicted  commercial banks for their failure to assist people who do investment in the real estate sector. Adodo, who made the remarks while interacting with newsmen at ...

“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) ...

The Kwara State government has said that the proposed N10b loan from commercial banks was a Federal Government-backed facility designed to revive ongoing infrastructural projects in the state, which were stalled by lack of funds. The State Governor, Abdulfatah Ahmed, who gave the clarification during a meeting with stakeholders in Ilorin, said infrastructure projects which were suspended due to drop ...