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Tag Archives: mortgage

FMBN has created over N80b mortgages so far – Ahmed Dangiwa


The Managing Director, Federal Mortgage Bank of Nigeria, Mr. Ahmed Dangiwa, says the lender has created more than N80bn mortgages since inception. Dangiwa stated this during the tour of Sedona Housing Estate in Igbogbo, Ikorodu, Lagos, which was financed by the FMBN and developed by Sedona Business Consults, an Abuja-based firm. The figure shows a 10.4 per cent increase in ...

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35 beneficiaries of NHF gets keys to their houses


The Managing Director (MD) of the Federal Housing Authority (FHA) Mortgage bank, Hayadeen Atiku Auwal, over the weekend handed over keys to 35 eligible contributors who have fulfilled all the basic requirements to access the National Housing Fund (NHF) facility in Gombe, the Gombe state capital. While handing over the keys to the cheerful beneficiaries, Atiku said the scheme was ...

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Osinbanjo declares 12th edition of Abuja International Housing show opened

housing show

Prof. Yemi Osinbajo would be declaring open the 12th edition of the Abuja International Housing Show, aimed at boosting housing investment in Nigeria. Festus Adebayo, Managing Director, FESADEB Communications Ltd., and the convener stated this in an interview with the News Agency of Nigeria on Monday in Abuja. The housing show which is the largest real estate festival in Africa ...

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Union Homes drags AMCON over seized properties


Asset Management Corporation of Nigeria (AMCON) is battling Union Home over property allegedly belonging to the former minister of aviation, Senator Stella Oduah-Ogiemwonyi. AMCON has through a court order seized several properties belonging to companies like Sea Petroleum Oil and Gas Group Limited and placed them under receivership. The properties in question are E29 and ‪31E Fat Oboh street‬ Millennium ...

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NMRC commits to greening Nigeria’s building construction industry


Nigerian building developers have come together to discuss the pathway for a greener Nigeria through the construction industry. Financial institution and mortgage re-finance provider NMRC has pledged to be a leader in pioneering the implementation of EDGE certification in the construction industry. NMRC and the International Finance Corporation (IFC), a member of the World Bank Group, along with the consortium ...

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Expert urges FG to make mortgage accessible


The Managing Director of Infinity Trust Mortgage Bank (ITMB) Olabanjo Obaleye has said it was difficult for mortgage industry to make a meaningful impact without government `s firm commitment to relax the policies surrounding property rights, perfection, and transfer in terms of time and cost. He stated this during the unveiling of new logo and brand direction of the bank ...

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Brief History of Mortgage In Nigeria and How it Works

Mortgage In Nigeria

In simple terms, a mortgage is a legal agreement that allows you to borrow money from a bank or building society, at a specified interest rate, in order to buy/build a house. The concept of mortgage in Nigeria is pretty straightforward. It is a loan in which a property (whether land or building) is used as collateral. The borrower enters ...

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Apex Mortgage bank set to expand their market with 50m subscribers

Mortgage in Nigeria FMBN

Amid concerns that some contributors to the National Housing Fund (NHF) have not been able to access loans, the Federal Mortgage Bank of Nigeria (FMBN) has assured Nigerians that the amendment of the enabling legislations in the scheme would make it more robust and beneficial. Accordingly, the bank explains that the objective is to expand its coverage to capture the ...

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Youths expose Nsima Ekere on plans to mortgage Akwa Ibom


Youths in Ikot Abasi Local Government Area, under the auspices of Edemeya Supreme Leaders’ Coalition (ESLC), has urged their kinsman and Managing Director, Niger Delta Development Commission (NDDC), Mr. Nsima Ekere, to shelve his purported governorship ambition in 2019. This view was contained in a statement issued, Tuesday, by the Director of Publicity and Strategy of the group, Akparawa Abraham ...

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