Tag Archives: loan

There is a cold war currently brewing between the Nigeria Mortgage Refinance Company (NMRC) and housing /mortgage providers over acclaimed total loans disbursements by the former in 2018. No sooner had NMRC, through its Managing Director, Mr. Kehinde Ogundimu, announced that the company refinanced mortgage loans totaling N18 billion as of December 2018, housing stakeholders, comprising developers, real estate practitioners, ...

The Federal Mortgage Bank of Nigeria (FMBN) on Monday disclosed that it had disbursed the sum of N14.7bn to 17,062 beneficiaries across the country in the last two years under various loan windows. The Executive Director, Business Development and Portfolio Management, FMBN, Umar Abdullahi, confirmed this during the presentation of cheques to staff members of the Federal Medical Centre, Birnin-Kebbi, ...

The Delta House of Assembly on Tuesday approved the request by the executive to obtain a revolving N600 million loan from United Bank of Africa for a 10,000 housing unit project. The approval of the request followed a motion moved by the Majority Leader, Mr. Tim Owhefere, at plenary in Asaba which was seconded by Daniel Mayuku (PDP-Warri South-West) Leading ...

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 ...

The recent $500 million loan secured from China for the construction of new terminals has caused a ruckus  between Federal Government and Comrade Abdulrazak Saidu, the General Secretary of the Association of Nigeria Aviation Professional (ANAP). Speaking with journalists at the Lagos Airport, Saidu insisted that the fund in which Nigeria had a counterpart funding of $100 million was grossly ...

The Group Staff Multipurpose Cooperative Society Limited has announced how Dangote plans to invest in real estate and microfinance bank and to make available credit facility for entrepreneurs who are its members. The President, DANCOOPS, Mr. Afolabi Kamoru, stated this at the group’s 10th Annual General Meeting in Lagos. Also, the Obajana unit of the group asked for financial autonomy ...

T’was an hour before closing, and the office was tense The first closing in months was about to commence With the economy a mess and underwriting requirements so tight Who would believe there’d be a closing tonight! Expenses were up, financials in the red But visions of commissions danced in the agents’ heads The loan was approved by the lender’s ...

When a house is in foreclosure then all doesn’t seem well. Foreclosure is something every real estate investor naturally tries to avoid especially when the investor’s real estate acquisition thrives on mortgage. In this article we explain what foreclosure means and how it is effected.  Foreclosure is a legal process in which a lender attempts to recover the balance of ...

Finance is very essential in every business venture and real estate business is no exception. If you are considering finance for your real estate business then this article is for you! A lot of people believe real estate business requires a huge capital, while that is somewhat true, I am about to show you some of the ways you can ...

“The National Assembly has secured a loan of $300 million for staff housing . It is to build about 10,000 housing units on various locations in the Federal Capital Territory for its core staffers, legislative aides and interested general public to own. The project which is spearheaded by the Parliamentary Staff Association of Nigeria (PASAN) but being coordinated by Clerk ...