Tag Archives: mortgage

N10 billion have been revealed by the Nigeria Police Force to be contributed in remittances to the National Housing Fund since the inception of the scheme. The Inspector-General of Police, Mr Ibrahim Idris, disclosed the information at the inauguration of the Nigeria Police Mortgage Bank Cash Centre and ATM gallery in Abuja. Mr Ibrahim said that the aim of the ...

Speaker of the House of Representatives, Hon. Yakubu Dogara has called for increased private sector participation in order to address the national housing deficit and pledged the commitment of the House towards enacting the required legislation. Speaking at a public hearing by the House Committee on Housing on a motion and four bills related to the National Housing Fund and ...

“The Federal Government on Thursday inaugurated a committee to establish a Mortgage Credit Rating to improve citizen’s access to affordable housing in the country.”- World Stage The Director, Financial System Strategy Department of the Central Bank of Nigeria, Mr Mohammed Suleiman, inaugurated the nine member committee in Abuja. He charged members to come up with ideas that would see the ...

“Stakeholders in the housing finance industry have inaugurated the Mortgage Warehouse Funding Limited, a special purpose company set up to provide short-term local currency and competitively priced funding to mortgage banks.”- Punch The MWFL, a private-sector driven initiative to enhance mortgage banks’ origination capacity, was incorporated in December 2014 and initially sponsored by a group of eight-member mortgage banks. The ...

Architect Ahmed Musa Dangiwa is the Managing Director and Chief Executive Officer (MD/CEO) of the Federal Mortgage Bank of Nigeria (FMBN). In this interview he expounds on the mortgage sub-sector and happenings in the bank in the nearly six months he has been on the saddle. When you came on board in April you said you wanted  to develop a ...

If you are searching for proven low cost housing strategies to construct your house, then take time to digest this article. I will be sharing with you some proven tips that will help you to construct affordable income apartment with ease. Most middle and low income earners aspiring to become landlords are getting frustrated because of different forms of challenges manifesting ...

When a house is in foreclosure then all doesn’t seem well. Foreclosure is something every real estate investor naturally tries to avoid especially when the investor’s real estate acquisition thrives on mortgage. In this article we explain what foreclosure means and how it is effected.  Foreclosure is a legal process in which a lender attempts to recover the balance of ...

Owning your house in a country like Nigeria, especially in metro cities of Lagos, Abuja and Port Harcourt is a laudable accomplishment considering the high cost of living. In this article, we take a look at an alternative to paying rent and being treated shabbily by your landlord. The cost of renting a standard house is so back-breaking, sometimes having ...

“The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele has identified various bottlenecks hindering genuine investors and by extension free flow of funds into the mortgage sector.”- This Day The central bank governor while delivering a keynote address at a workshop for judicial officers on mortgage, with the theme: ‘Mortgage Disputes in Nigeria: The Need for Expeditious Resolution of ...

Lagos Building Investment Company Plc (LBIC) was established as a Corporate entity on the 14th of February 1980 with the aim of providing Mortgage Finance Facilities to allotees of the various low cost housing Schemes built by the Lagos State Government (1979-1983). This article reveals all you should know about Lagos Building Investment Company. With the promulgation of the mortgage Institution Act.No.53 ...