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FMBN boss blames high interest rates for housing crisis

FMBN boss blames high interest rates for housing crisis

The Managing Director of The Federal Mortgage Bank of Nigeria, Mr. Gimba Ya’u Kumo, has blamed the high and unaffordable interest rate systems used by many mortgage institutions as a major cause of housing crisis in Nigeria, saying that most Nigerians could not afford to tap into the current interest rate regime. He further listed the lack of long-term finance ...

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