Home » Tag Archives: Federal Mortgage Bank of Nigeria

Tag Archives: Federal Mortgage Bank of Nigeria

Why Housing Shortage Persists in Lagos

Housing Shortage in Lagos

Decent and affordable housing is one of the basic needs of individuals, family and the community at large. In this piece, we look at the problems associated with housing delivery in Lagos. Despite her huge potentials, why do you think housing shortage persists in Lagos? As a pre-requisite to the survival of man, housing ranks second only to food. Housing ...

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What is Real Estate BOND?

more lucrative to invest in the real estate business

For movie lovers, the first thing that comes to mind at the mention of bond is the character of the famous MI 007 agent, James Bond and his love for gadgets and women. Albeit real estate bond has nothing to do with James Bond and his love for gadgets and women. In this article we throw our searchlights on Real ...

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What you should know about Lagos Building Investment Company

Lagos Building Investment Company

Lagos Building Investment Company Plc (LBIC) was established as a Corporate entity on the 14th of February 1980 with the aim of providing Mortgage Finance Facilities to allotees of the various low cost housing Schemes built by the Lagos State Government (1979-1983). This article reveals all you should know about Lagos Building Investment Company. With the promulgation of the mortgage Institution Act.No.53 ...

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FMBN : Committed to delivering houses in a period of recession

Federal Housing Authority

“A time when public confidence in many government institutions is probably at its lowest ebb, one institution that stands out for its commitment to service is the Federal Mortgage Bank of Nigeria (FMBN).”- Leadership Set up since 1956 when it was known as the Nigerian Building Society, the bank has continued to deliver on its mandate of supplying the mortgage ...

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FMBN spends N1.4b on housing units in Niger

Stakeholders urge SON to create specialized dept for building materials

The Federal Mortgage Bank of Nigeria (FMBN) has disclosed that N1.4 billion have been expended for the development of 379 housing units in Niger State just as the Minister of State for Power, Works and Housing, Alhaji Mustapha Baba Shehuri, said the nation needs 17 million houses to meet up with the challenge of housing deficit. The minister, who stated ...

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N40tn Mortgage Finance Needed for Housing Shortage – FMBN

FMBN & FHA to Sign MOU on National Housing Schemes

The Federal Mortgage Bank of Nigeria has said that the country needs over N40tn in mortgage finance to address the present housing shortage. The bank, in a document made available to Punchng correspondent, noted that the mortgage finance must be affordable to have the desired effect. According to the bank, homeownership rate in the country is currently at about 25 ...

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FMBN & FHA to Sign MOU on National Housing Schemes

FMBN & FHA to Sign MOU on National Housing Schemes

The Federal Mortgage Bank of Nigeria (FMBN) and the Federal Housing Authority (FHA) have agreed to sign an Memoradum of Understanding (MOU) to meet the President Muhammadu Buhari’s annual target of delivering one million housing units.   The institutions also agreed to jointly explore opportunities for housing delivery through a number of on-going housing schemes such as the Accelerated Housing ...

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FMBN boss blames high interest rates for housing crisis

FMBN boss blames high interest rates for housing crisis

The Managing Director of The Federal Mortgage Bank of Nigeria, Mr. Gimba Ya’u Kumo, has blamed the high and unaffordable interest rate systems used by many mortgage institutions as a major cause of housing crisis in Nigeria, saying that most Nigerians could not afford to tap into the current interest rate regime. He further listed the lack of long-term finance ...

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The Federal Mortgage Bank of Nigeria: An Overview

Federal Mortgage Bank of Nigeria

Housing sector plays a critical role in the development of an economy. It not only affects the welfare of the citizens but also the performance of other sectors of the economy. It is one of the three most important basic needs of man, the others being food and clothing. Consequently, greater attention is being given by governments in the delivery ...

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HOUSING: FMBN approves mortgage loan for RSL

Resort Savings and Loans Plc says it has secured the Federal Mortgage Bank of Nigeria’s approval for N1.5bn mortgages for more than 125 beneficiaries under the National Housing Fund Scheme. According to the mortgage bank, this comes amid the struggle by the nation to tackle the challenge of providing affordable housing for its citizens. A statement from the company quoted ...

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