Tag Archives: FMBN

Babatunde Fashola‎, minister of Power, Works and Housing said the federal government has concluded plans to recapitalise the Federal Mortgage Bank of Nigeria (FMBN) to a N500bn capital base, which would enable it play a more determinant role in closing the housing deficit in the country. The FMBN current capital base is currently put at N2.5 billion, of which the ...

The federal government plans to inject N500 billion into Federal Mortgage Bank of Nigeria (FMBN) putting in N100 billion annually over the next five years as part of efforts to address the housing deficit of the country. Chief executive officer of FMBN, Ahmed Musa Dangiwa, said the mortgage bank was expecting proposals on its recapitalisation, as well as a reorganisation ...

Nigeria Real Estate Hub correspondent was in an interview with the CEO of Tromville investment, Pastor Adeyemi Adeniyi A.K.A the Bishop of real estate. He shared six challenges he encountered as a developer in the built environment. Read his interview below NREH: We heard about your tremendous contributions as an employee in Property Mart and how you delivered 6 estates ...

Dr. Hannatu Fika, the Executive Secretary, Federal Government Staff Housing Loans Board (FGSHLB), said that the board had helped over 30,000 civil servants to access loans to own houses. Fika made this known in an interview with the News Agency of Nigeria (NAN), on Monday in Abuja. She said that public servants were the engine room of good governance, adding ...

Amid concerns that some contributors to the National Housing Fund (NHF) have not been able to access loans, the Federal Mortgage Bank of Nigeria (FMBN) has assured Nigerians that the amendment of the enabling legislations in the scheme would make it more robust and beneficial. Accordingly, the bank explains that the objective is to expand its coverage to capture the ...

For not meeting their housing needs, Federal Government employees are mounting pressure to break the monopoly of National Housing Fund (NHF) on workers’ contributions. To show their seriousness, they are currently seeking withdrawal of their contributions from the NHF to Federal Government Staff Housing Loans Board (FGSHLB) for easy access to their money. Their demand is contained in the proposed ...

The aggressive delivery of affordable housing for low and medium income earners appears to be the fulcrum on which the Federal Mortgage Bank of Nigeria (FMBN) is trying to reposition itself for leadership in mortgage financing, Ndubuisi Francis reports. Despite being in existence for several decades, the FMBN has been plagued by a combination of long-standing structural, institutional and policy ...

The Federal Mortgage Bank of Nigeria (FMBN), says 13,000 workers would benefit from its N13 billion Workers Home Renovation Loan Scheme. Speaking at a consultation with the National Employers Consultative Association, the Nigerian Labour Congress and the Trade Union Congress, the Director-General of FMBN, Ahmed Dangiwa, said with a credit facility of N1 million, the bank will be able to ...

Stakeholders in the real estate sector have called on federal and state governments to focus on urban regeneration and provision of infrastructure at project sites to facilitate affordable housing. This was revealed on the sideline of a workshop organised by Real Estate Development Association of Nigeria in Abuja. The director, University of Lagos Centre for Housing Studies, Prof Olugbenga Timothy ...

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 ...