• About
  • Advertise
  • Careers
  • Contact Us
Tuesday, June 24, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
ADVERTISEMENT
Home Economy Finance

Why FMBN Needs Recapitalization

Reporter: Tobi  Adetunji   

by Techeconomy
April 15, 2024
in Finance
0
Recapitalization of FMBN
FMBN logo

FMBN logo

UBA
Advertisements

Operators and experts in the built environment have stated that the recapitalization of the Federal Mortgage Bank of Nigeria has become necessary.

According to Toye Eniola, the executive secretary of the Association of Housing Corporations of Nigeria, “The prices of building materials and construction have gone up and more funds would be required in the system. Recapitalization will assist FMBN in creating adequate and more mortgages to service affordable housing provision and create a vibrant mortgage market in Nigeria

He said:

“FMBN loan is a single digit of six percent interest and recapitalization will not make any difference because it is a special loan backed by law and would only be changed by the same law that established it. However, recapitalization of FMBN cannot guarantee a single-digit interest rate in the general mortgage market because of the monetary policy and capital market forces dictated by government lending rates and where mortgage institutions are sourcing their funding.”

However, recapitalization of FMBN cannot guarantee a single-digit interest rate in the general mortgage market because of the monetary policy and capital market forces dictated by government lending rates and where mortgage institutions are sourcing their funding.”

Meanwhile, another expert in the field has advanced the fact that recapitalizing FMBN was one of the steps necessary to achieve affordable housing in Nigeria.

He noted that “Since the current administration is determined to provide affordable homes to Nigerians, it can revisit and change the law and policy to recapitalize FMBN and make it a solvent institution that can help the masses. Recapitalising FMBN is one of the steps necessary to achieve affordable housing in Nigeria.

“Recapitalizing FMBN is not going to guarantee a single-digit loan across the board in Nigeria but will create an opportunity for competition that would make the double-digit lenders seat up. Look at the recent case of Air Peace. Did you see how the airlines were cutting their prices? Competition creates an atmosphere where everyone would give their best, which ultimately might benefit the consumers, who are the ordinary Nigerians.”

Loading

Advertisements
MTN ADS

Author

  • Techeconomy
    Techeconomy

    View all posts
0Shares
Tags: FMBNrecapitalization
Techeconomy

Techeconomy

Next Post
banks in Nigeria

Six Banks in Nigeria Increase IT Expenses by 44.66%

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Interswitch Adjudged ‘Fintech of the Year’ at 2022 African Banker Awards

3 years ago
Up to $300k Grants Available for Internet Society Foundation 2024 BOLT Programme

Up to $300k Grants Available for Internet Society Foundation 2024 BOLT Programme

12 months ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.