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FMBN urges Nigerians to embrace mortgage

The Federal Mortgage Bank of Nigeria, FMBN has promised to partner more with mortgage institutions for the development of the housing sector in line with the government’s next level agenda in the sector.

The Managing Director and CEO of the bank Mr Ahmed Dangiwa made the promise when the management of a leading mortgage bank paid him a courtesy visit in Abuja.

Mr. Dangiwa who said the primary mortgage bank was one of FMB’s biggest partners and a leading effective mortgage institution, urged Nigerians to embrace the mortgage system. 

Mr. Dangiwa who expressed disappointment that many primary mortgage banks were not meeting up with the purpose for which they were set up, however, restated FMB’s committed to providing more facilities to Nigerians to have their own homes.

The managing director of the primary mortgage bank Mr Emmanuel Mbaka said they would work closely with the federal Mortgage Bank to create more loans to Nigerians to develop their own houses.

Some Mortgage banks in the country are currently embarking or a recapitalisation programme under the supervision of the federal mortgage bank.