Tag Archives: NMRC

The Federal Government has disclosed that a total of 1, 350 houses have been completed at various locations in Abuja and Lagos and their letters of allocation will be ready for distribution. The beneficiaries (civil servants) are under the Federal Integrated Staff Housing (FISH) programme. FISH programme, which is the initiative of the Head of the Civil Service of the ...

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 ...

Policy inconsistencies by successive administrations, which hinder home ownership in Nigeria, have been attributed to increasing housing deficit in Nigeria, Mr. Boss Mustapha, the Secretary to the Government of the Federation (SGF), has said. But experts in the industry having reviewed the challenge of housing deficit in the country have again preferred ways Nigeria can overcome her 17 million units ...

For the country to attain housing sufficiency, there is the need for the construction of affordable houses and access to adequate funding that will make cheaper mortgages possible. This is because affordability is critical in the quest of citizens to own personal homes with mortgage market. The difficulty in housing affordability, which boils down to financial capacity, has been further ...

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, ...

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 ...

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 ...

“The Nigeria Mortgage Refinance Company Plc (NMRC) was amongst the 800 participants consisting of government and business leaders that attended the Corporate Council on Africa (CCA) U.S. and Africa Business Summit hosted in Washington DC .”- Guardian As the leading U.S. business association solely focused on the U.S. and Africa trade and investment, the sessions at CCA’s biennial signature event – the ...

The Guardian reports that after a major agreement with Kaduna Government to promote mortgage penetration and home ownership recently, the Nigerian Mortgage Refinance Company (NMRC) has again entered into another deal with estate developers. The agreement with the Real Estate Development Association of Nigeria (REDAN) is meant to boost research, advocacy and housing finance in the housing sector. The deal ...

The Nigeria Mortgage Refinance Company (NMRC) recorded a profit of N482 million for its operations in 2015, which is a substantial increase over the N160 million profit it declared in 2014. Also, the company recorded increase in its total assets, rising to N39.01 billion in 2015 from N10.6 billion in 2014. Vanguard reports that this was disclosed at NMRC’s  2nd ...