Tag Archives: mortgage loans

Managing Director of Federal Mortgage Bank of Nigeria (FMBN), Ahmed Dangiwa, on Wednesday, revealed that a sum of N193.4 billion mortgage loans had been disbursed to 18,935 Nigerian workers. Dangiwa, who stated this, in Abuja, at the launch of FMBN’s digital platforms, noted that this was done in collaboration with Nigerian Labour Congress (NLC), Trade Union Congress (TUC) and Nigeria ...

Yola – Gov. Mohammed Bindow of Adamawa on Tuesday said that the state government would complement Federal Government housing programme aimed at providing affordable houses for the state workforce. Bindow gave the assurance at the Ground Breaking of 100 units National Affordable Housing Delivery Programme for Nigerian workers in Yola. Reports show that the project is being financed by the ...

The Central Bank of Nigeria (CBN) has set the minimum capital requirement of N6 billion for the operation of Mortgage Guarantee Companies (MGC) in the country. In an exposure draft posted on its website, it pointed out that the licencing of MGC would deepen the mortgage banking sub-sector, through increased market access to mortgage finance and sharing of credit risk ...

The Nigerian Council of Registered Insurance Brokers has urged the Federal Government to incorporate appropriate insurance policies into its housing projects. The President of the council, Mr. Shola Tinubu, who recalled that the Federal Government recently announced that N197bn was spent on the construction of 26,002 houses and the renovation of 13,953 homes across the country, stressed the need to ...

The Federal Mortgage Bank of Nigeria has said that out of the four million registered contributors to the National Housing Fund, only 60,000 or 1.5 per cent of the total have been able to access mortgage loans. According to the bank, although the dismal number is due to many constraints to housing finance in Nigeria, the FMBN has adopted a ...

The Nigerian Mortgage Refinancing Company and the Nigerian Insurers Association are jointly working to integrate title insurance as a mandatory condition to get mortgage loans. Sunday Thomas, the Director-General of NIA, disclosed this to a punchng correspondent in an exclusive interview, saying that the NMRC was working with the indigenous underwriters to introduce insurance as a condition for getting mortgage ...