Tag Archives: Mortgage Bank

Shortly after the recent unveiling of a five-year roadmap by the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, the bank has issued directives to improve real sector lending and financial inclusion. In a circular dated July 3, 2019, the CBN mandated all Deposit Money Banks (DMBs) operating in Nigeria to maintain a minimum Loan to Deposit Ratio ...

An investment banker, Prof. Charles Inyangete has advised the federal government to subsidise mortgage financing in order to enable Nigerians have access to affordable housing as well as bridge the current housing deficit. He said this became necessary given that the current environment does not support single digit interest rate. Speaking in an interview at the recent FM Forum 2019, ...

Although mortgage market and financing has continued to be a source of worry for operators in the nation’s housing delivery, investors and industry players have projected a positive future. Currently, Nigeria’s mortgage banks charge between 19 and 24 per cent. And this could go higher, depending on the risk volume, which has affected the real estate’s potential as a goldmine ...

A federal High Court in Lagos has dismissed an application by Safetrust Mortgage Bank to regain its high-rise property, Safetower Estate, located in Ikate Lekki, Lagos. In an application filed before Justice Sule Hassan, the developer had urged the court to vacate its earlier order of forfeiture of Safetower to EFCC, pending the completion of investigation by the Economic and ...

The Federal Housing Authority (FHA) said it would invest N9 billion in the ongoing construction of its Abuja Mass Housing Project of 550 units of houses, located in Zuba, Abuja. Prof. Mohammed Al-Amin, Managing Director of FHA, made this known on Friday while fielding questions from journalists after an inspection of the Zuba pilot scheme construction site, Abuja. The News ...

Mr. Olayinka Omotosho, Chairman, Royal Institution of Chartered Surveyors (RICS), has appealed to the Federal Government to provide long-term funds to mortgage institutions to enhance their scope of operation. Omotosho reported on Monday in Lagos that affordable housing could only be achieved through effective mortgage system, which was not available in the country. He said the conventional banks offering mortgage ...

Osun State Governor, Ogbeni Rauf Aregbesola has lauded the managerial prowess of the Board and Management of Omoluabi Mortgage Bank Plc., for recording astronomical growth across all lines in the 2017 financial year. The governor described the performance in the year under review as heroic, noting that the bank has made tremendous progress, resulting in payment of dividends to shareholders ...

In a renewed move to attract more real estate investors and encourage effective property documentation in the country, shareholders are seeking Federal Government’s intervention to ease land documentation process and fees charged on documentation. National Chairman, New Dimension Shareholders Association, NDSA, Mr. Patrick Ajudua, made the appeal at the just-concluded 12th Annual General Meeting of Infinity Trust Mortgage Bank, ITMB, ...

In line with its vision to be the mortgage bank of choice, ASO Savings & Loans Plc. is partnering with Environmental Engineering and Construction Limited and Realines Global Konsult Ventures Ltd to bring to reality the planned Kaduna Millennium City. ASO savings is totally financing the multi-billion Naira project. Kaduna Millennium City is an 11.8 Hectare Land located within the ...

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 ...