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Tag Archives: NHF

Mortgage operatives propose new ways to finance housing institutions

Housing institutions

After an initial effort that eventually turned out to be a ‘false start’, a fresh move to facilitate the mobilization of fund for the provision of houses for Nigerians at affordable prices may be in the offing. The move would rejuvenate mortgage sector as part of the wider plans of overhauling housing financing institutions in the country. Coming under the ...

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CBN enlists 34 mortgage banks and 4 commercial banks to stimulate housing finance

mortgage banks

Following plans to introduce a public private partnership scheme that seeks to increase access to housing finance, the Central Bank of Nigeria (CBN) has selected 34 primary mortgage banks and 4 commercial banks to stimulate housing finance for low-income earners in the formal and informal sectors. The banks will join nine other micro finance banks in the ‘My Own Home’ scheme, ...

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MBAN plans non-interest mortgages, seeks for intervention fund

MBAN plans non-interest mortgages, sMBAN plans non-interest mortgages, seeks for intMBAN plans non-interest mortgages, seeks for interMBAN presidentvention fundervention fundeeks for intervention fund

Gearing up for a veritable funding source for the sub-sector, mortgage operators (MBAN) have moved to explore the suitability, applicability and the possibility of adopting the non-interest mortgages to unlock the potentials of the Sukuk model. The operators, under the aegis of the Mortgage Banking Association of Nigeria agreed in a seven-page communiqué after its chief executive officers retreat in ...

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FG Advised to Introduce Subsidy in Housing, Tax Occupied Property

…As stakeholders propose affordable housing bill to NASS Experts in the housing sector of the nation’s economy at the weekend called on the Federal Government to introduce subsidy in the sector to enable the country achieve the dream of providing affordable housing for the citizenry. They argued that such measure if applied, would not only help greatly in abridging the ...

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What you should know about Lagos Building Investment Company

Lagos Building Investment Company

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 ...

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Only 3% of workers benefitted from National Housing Fund

National Housing Fund

“After 30 years of operating the National Housing Fund (NHF), only three percent of Nigerian workers has benefited from it, New Telegraph has learnt.”- Ripples Nigeria According to the Managing Director, Federal Housing Authority (FHA), Professor Mohammed Al-Amin, majority of federal and state governments’ staff who subscribed to NHF have not been able to access the fund to actualize their ...

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Imo NHF contributors to get allocation in new scheme

Would you take an opportunity to live as a tenant in Lekki over owning your house in Mushin

“Succour may be in the offing for some contributors of the National Housing Fund (NHF) in Imo State, if recent pronouncements by the Federal Mortgage Bank of Nigeria (FMBN) are anything to go by.” The Guardian reports According to The Guardian, the FMBN financed 100 housing units under the Ministerial Pilot Housing Scheme at Naze, Owerri North Local Council to ...

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FMBN & FHA to Sign MOU on National Housing Schemes

FMBN & FHA to Sign MOU on National Housing Schemes

The Federal Mortgage Bank of Nigeria (FMBN) and the Federal Housing Authority (FHA) have agreed to sign an Memoradum of Understanding (MOU) to meet the President Muhammadu Buhari’s annual target of delivering one million housing units.   The institutions also agreed to jointly explore opportunities for housing delivery through a number of on-going housing schemes such as the Accelerated Housing ...

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National Housing Fund Contributions Hit N192bn

Federal Mortgage Bank of Nigeria

The Federal Mortgage Bank of Nigeria has said contributions to the National Housing Fund reached N191.9bn in March. The Acting Managing Director, FMBN, Mr. Richard Esin, stated this at the ongoing 15th Lagos Housing Fair, where he was represented by the Lagos Zonal Coordinator of the bank, Mr. Yusuf Yinusa, adding that the money came from 4.14 million registered contributors ...

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FMBN To Establish Nigeria Navy Primary Mortgage Bank

FMBN boss blames high interest rates for housing crisis

The Managing Director/Chief Executive Officer of Federal Mortgage Bank of Nigeria (FMBN), Mr. Gimba Yau Kumo has unveiled his determination to establish the Nigeria Navy Primary Mortgage Bank (PMB) for efficient processing of Naval National Housing Fund (NHF) loan application. Kumo who disclosed this during a courtesy visit to the Naval Headquarter in Abuja noted that Suntrust S & L ...

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