Federal Mortgage Bank of Nigeria

Federal Mortgage Bank of Nigeria was established in , Built by in .

About The Federal Mortgage Bank of Nigeria

The Federal Mortgage Bank of Nigeria is the Apex mortgage institution in Nigeria. It is mainly in charge of mobilizing domestic and foreign funds into the housing sector, it tries to link the capital market with the housing industry while establishing and operating a viable secondary mortgage market to support the primary mortgage market. Finally, it collects and administers the National Housing Fund in accordance with the provisions of the NHF Act.

History of The Federal Mortgage Bank of Nigeria

The Federal Mortgage Bank of Nigeria (FMBN) was established in 1956, known then as the Nigerian Building Society(NBS) . The Federal Government then in 1973 took control of the NBS through its indigenisation policy giving it its present Name. In 1994, the FMBN  was accorded the status of the apex mortgage institution and thus ceded its retail function to Federal Mortgage Finance Limited which was carved out of it. Under its present mandate, the FMBN finances mortgages created by primary mortgage institutions (PMI) under the National Housing Fund Scheme and also gives estate development loans (EDL) to real estate developers.

Safety

The premises has watertight security. Visitors here have to be cleared to get in. No security threat.

Best Time to Visit The Federal Mortgage Bank of Nigeria

FMBN is best visited during working hours.  

Most Common Visitors

The FMBN is frequented by bank representative, clients seeking high mortgage plans and government officers.

Weather at The Federal Mortgage Bank of Nigeria

Federal Mortgage Bank of Nigeria is located at the South-West part of Nigeria. This region has two seasons which are the dry and rainy season. The rainy season comes from the month of May till early August while the dry season comes from the month of October till April. Usually, between the month of December and February Harmattan comes along.