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Tag Archives: Mortgage banks

CBN lists 34 licensed primary mortgage banks

Mortgage banks

The Central Bank of Nigeria (CBN) has published the list of thirty-four (34) entities as licensed primary mortgage banks in Nigeria as at the month ended September 30, 2018. The list released by CBN yesterday revealed that eighteen (18) firms or fifty-three (53%) per cent (approx.) of the licenced PMBs operate out of Lagos (In our review of the table, ...

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CBN intends to revoke 154 microfinance banks’ licences, 28 others

licences

The Central Bank of Nigeria on Wednesday gave a notification to revoke the operating licences of 182 other financial institutions in the country. According to the list released by the regulator on Wednesday, 154 of the affected institutions are microfinance banks; six are primary mortgage banks; while the remaining 22 are finance companies. The CBN said 62 of the microfinance ...

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FMBN refunds N21.4bn housing funds to 216,650 retirees

FMBN

The Federal Mortgage Bank of Nigeria (FMBN) said it has refunded over N21.4 billion National Housing Fund (NHF) to 216,650 retirees across the country. The Managing Director, Arc. Ahmed Musa Dangiwa disclosed this yesterday in Abuja at the September 2018 Lunch Time Reform Seminar on “The Challenges Facing Civil Servants in Obtaining Loan from FMBN and how to Access Contributions ...

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TUC President tasks FG on affordable houses for workers

TUC

The President of the Trade Union Congress of Nigeria (TUC), Comrade Bobboi Kaigama, has berated the Federal Government for not taking workers’ income into consideration in the housing projects being implemented across the nation. Comrade Kaigama said previous efforts to build houses for workers had remained white elephant projects because they did not take time to plan for the workers ...

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Mortgage banks propose one-year job insurance scheme

Mortgage banks propose one-year job insurance scheme

The Guardian reports that fresh efforts are underway to seek pragmatic and contemporary solutions to the challenges in the mortgage sub-sector, following plans by the operators to extend loss of job insurance scheme, which will cover mortgage default up to a year. The scheme is already in place and covers up to six months. Mortgage insurance, which is widely used in other countries and is compulsory ...

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The Necessity For Affordable Housing

affordable Housing

Nigeria is perhaps the fastest urbanizing country in the African continent. One of the most important challenges facing the country is the provision of affordable housing. In Nigeria, many people always wait with keen interest to listen to budget speech at the beginning of each year. This is for nothing sake, but to hear how much have been allocated to ...

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“NMRC is not as straightforward as people think” – Lanre Afolabi

In an interview with Elsie Godwin of Nigeria Real Estate Hub, the acting MD of New prudential Mortgage Bank, Mr. Lanre Afolabi who has garnered over 15years experience that span through Financial service sector: ranging from mortgage banking through investment/commercial banking and Real Estate, said NMRC is not as straight forward as people would think.   Read Below: How would you describe ...

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