Tag Archives: FMBN

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 ...

The Federal Mortgage Bank of Nigeria (FMBN) has unveiled plans to collaborate with Millard Fuller Foundation (MFF) to provide affordable housing to low income earners in the country. The Acting Managing Director of FMBN, Mr Richard Esin disclosed this in Abuja, yesterday during the 10th Anniversary of the foundation, on the sideline of the 10th Abuja Housing Show, organised by ...

The Federal Mortgage Bank of Nigeria and its partner, Federal Housing Authority of Nigeria, have announced the commencement of the construction of 30,000 housing units across the country. According to the FMBN, the N9bn project, which will employ about two million workers from all over the country, will commence this week in Lagos, Abuja, Kano and Port Harcourt. Speaking at ...

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 ...

The Management of the Federal Mortgage Bank of Nigeria (FMBN) in collaboration with Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) have assured of its determination to build four million housing units for workers nationwide in partnership with Nigerian Employers Consultative Association (NECA). This was the outcome of a parley between the leadership of NLC and TUC when the ...

The Federal Mortgage Bank of Nigeria (FMBN) in collaboration with Asset Management Corporation of Nigeria (AMCON) has concluded plans to enhance inter-agency cooperation towards addressing economic challenges posed by non-performing loans in mortgage banks. This was part of the resolution following a meeting with the management of FMBN at the AMCON headquarter in Abuja, according to a statement made available ...

The Federal Mortgage Bank of Nigeria has said contributions to the National Housing Fund reached N191.9bn in March. The Acting Managing Director, FMBN, Mr. Richard Esin, stated this at the ongoing 15th Lagos Housing Fair, where he was represented by the Lagos Zonal Coordinator of the bank, Mr. Yusuf Yinusa, adding that the money came from 4.14 million registered contributors ...

The Acting Managing director of Federal Mortgage Bank of Nigeria (FMBN ), Mr. Richard Esin has revealed that the bank would develop a biometric data for National Housing Fund (NHF) contributors. This he said was to enable contributors access their funds upon retirement from service without applying for refund adding that the bank would redesign the NHF scheme without violating ...

The managing director of Federal Mortgage Bank of Nigeria (FMBN), Mr Gimba Kumo yesterday told the Senate that commercial banks and insurance companies have defaulted payment of their contributions to housing scheme for 24 years. He called for the recapitalisation of the mortgage banks to N250 billion to further empower the banks to meet the housing challenge in Nigeria. The ...

The Coalition of Non-Governmental Organisations for Change has hailed the Managing Director and Chief Executive of the Federal Mortgage Bank of Nigeria (FMBN), Gimba Yau Kumo, for his “laudable achievements”. The coalition, which comprises students, artisans, traders and the civil society, in a communiqué by its President, Wole Badmus, at the end of its roundtable at the weekend, said Kumo ...