Money

Nigeria diaspora remittances face decline amidst Soaring mortgage rates

Ihesiulo Grace 23 August 2023 0

Nigeria, an economy heavily dependent on diaspora remittances for its foreign exchange supply, is preparing for a potential reduction in critical financial inflows. The expected decline is linked to the significant increase in mortgage interest rates in key remittance-sending countries like

Business

How employees can use retirement savings to obtain residential mortgage

Ihesiulo Grace 30 April 2023 0

By Godwin Anyebe The National Pension Commission (PenCom) has explained how workers can use their retirement savings to obtain a residential mortgage. A mortgage is a type of loan used to purchase or maintain a home, land, or other types of real estate. Last year, PenCom issued guidelines on accessing retirement savings account (RSA) balance […]

News Nigeria

FG to inject N500bn in FMBN

Ihesiulo Grace 27 June 2018 0

The Federal Government plans to inject N500 billion ($1.4 billion) in its low-cost mortgage lender over the next five years in an effort to spur home ownership. Faced with a housing deficit of 17 million units, Nigeria is seeking to improve access to home loans in an economy that vies with South Africa as the […]

News Nigeria

300 Adamawa civil servants to benefit Housing loan from FMB

Ihesiulo Grace 18 December 2017 0

About three (300) civil servants in Adamawa State are to benefit from the Federal Mortgage Bank housing scheme loan. Governor Muhammad Umaru Jibrilla, Who presented the cheques to some of the beneficiaries at the Murtala Nyako Training Center, said the effort in line with the policy of this present administration which is aim to improve […]