Tag Archives: FMBN

The Federal Mortgage Bank of Nigeria (FMBN) has lauded the Special Presidential Investigative Panel for the Recovery of Public Property for its willingness to support the bank in the debt recovery drive as well as fighting corruption and creating public awareness on the need to evolve a corrupt-free society. The FMBN Managing Director/Chief Executive, Ahmed Musa Dangiwa made the commendation ...

The Federal Mortgage Bank of Nigeria (FMBN) says it has invested over N197 billion to deliver over 26,000 housing units in the country since its creation. The Managing Director of the bank, Arc. Ahmed Musa Dangiwa, stated this at the 2018 edition of ArchiBuilt, an annual exhibition of latest trends, technologies, systems and policy issues in the building industry, holding ...

The Federal Mortgage Bank of Nigeria has announced that Nigerians above 18 with a steady paycheck will now be able to access up to N5 million housing loan without equity contribution. This was stated as one of the new conditions for accessing mortgage funds from the bank. According to a statement by Zubaida Umar, the revised requirements are a 100% ...

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 ...

The Federal Mortgage Bank of Nigeria (FMBN), has started the implementation of the new approved conditions for accessing loans from the National Housing Fund (NHF). This includes zero equity contribution for the provision of housing loans of up to N5million and 10 per cent contribution for housing loans ranging from N5million to N15million by contributors to the NHF. The revised ...

Moves are presently being made by the Special Presidential Investigation Panel for the Recovery of Public Property to recover about N87 billion bad debts owed the Federal Mortgage Bank of Nigeria (FMBN) by developers. It was gathered that the debts arose from loans obtained by estate developers and primary mortgage institutions between 2009 and 2016. Preliminary investigations showed that some ...

The chairman/chief executive officer of Dangote Group, Alhaji Aliko Dangote has called on federal government to adopt Ethiopia’s mass housing model in a bid to address the over 17 million housing deficit in the country. Dangote also said he supported the proposed restructuring and N500bn recapitalisation of the Federal Mortgage Bank of Nigeria (FMBN) for effective service delivery. He stated ...

The Chairmen and Chief Executive Officers of Dangote and BUA Groups of Companies, Alhaji Aliko Dangote and Alhaji Abdul Samad Isyaku Rabiu have expressed strong willingness to partner the Federal Mortgage Bank of Nigeria (FMBN) towards boosting social housing delivery for Nigerians. Dangote, who ranks as Africa’s richest business magnate and investor and Isyaku Rabiu, a leading Nigerian businessman with ...

The World Bank and Central Bank of Nigeria (CBN) have initiated collaborations in efforts to review the existing Land Use Act laws and create enabling environment for the mortgage activities to thrive in the country. The move aimed at enhancing housing delivery in the country is coming on the heels of an affirmation that Nigeria has about 16 million housing ...

The Managing Director, Federal Mortgage Bank of Nigeria, Mr. Ahmed Dangiwa, says the lender has created more than N80bn mortgages since inception. Dangiwa stated this during the tour of Sedona Housing Estate in Igbogbo, Ikorodu, Lagos, which was financed by the FMBN and developed by Sedona Business Consults, an Abuja-based firm. The figure shows a 10.4 per cent increase in ...