Category Archives: Housing Finance

Economic policies and human development

Nigeria’s economy had for over three decades now been presided over by the brightest economists from all over the world, from the top echelon of the World Bank, ADB/ADF, the Academic Community and other economic pundits. Yet, The Human Development Index (HDI) of Nigerians which

Trapped funds: Union Homes’ depositors petition Reps

Maureen Ihua-Maduenyi Depositors of the defunct Union Homes Savings and Loans have petitioned the House of Representatives seeking help for the refund of their trapped funds in the mortgage bank. In the petition dated February 8, 2018, the depositors said they had neither heard from

Stakeholders Chart New Path for Financing Low-Income Homes

With housing production estimated at 100, 000 housing units per year, experts in housing industry have called for adequate housing finance for the low-income group, which constitutes larger part of the population. According to them, the lowest recorded interest rate on a mortgage in Nigeria

BSTAN Charges FG to Provide Housing for IDPs

Property developer has expressed dissatisfaction over inability of political office holders to provide adequate housing for Nigerians. The Managing Director of Bstan Homes, Bekky Damilola-Oke urged politicians to provide houses for internally displaced persons as well as train them. Lamenting the increasing rate of IDP

‘Mortgage market records 82 per cent growth’

The mortgage finance market recorded 82 per cent growth between 2010 and 2016, the Mortgage Banking Association of Nigeria (MBAN) President, Mr. Akinniyi Akinlusi, has said. He made this known during a chat with The Nation. Akinlusi said while the size of the mortgage market

MBAN Prepared to Drive My Own Home Scheme, Says Akinlusi

Maureen Ihua-Maduenyi Stakeholders in the mortgage sub-sector have revealed plans to simplify mortgage transactions for aspiring homeowners in the country. One of the steps, according to them, is the inauguration last year of the ‘My Own Home’ scheme, a Public-Private Partnership created to increase access

Nigerian govt inaugurates task force to facilitate family home fund

The Economic Management Team of the Federal Government has set up a Family Homes Fund’s Task Force to facilitate the implementation and delivery of the Family Homes Housing Project nationwide. The Chairman and Minister of State II for Power, Works and Housing, Suleiman Hassan made

Tracking the National Housing Fund

IN its determination to make ‘housing for all’ a reality, the Federal Government established the Federal Mortgage Bank of Nigeria (FMBN) in 1956. It was formerly known as the Nigerian Building Society (NBS). The Federal Government, by the Indigenisation Act [1973], acquired the NBS and

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