The Nigeria Mortgage Guarantee Company, a platform for credit enhancement, is already being finalized by a division of the Central Bank of Nigeria, according to the Mortgage Bankers Association of Nigeria, which has requested that the Federal Government establish and operationalize it.
This, it claimed, would support the government’s recent approval that allows owners of pension funds accounts to use 25% of their assets for mortgage purposes.
The bankers claimed in a statement issued by the president of the MBAN, Mr. Ebilate Mac-Yoroki, titled “PenCom’s approval permitting access to 25% retirement savings for mortgage, major leap to bridging housing deficits,” that the new initiative would make decent housing more accessible to millions of Nigerians from the working class.
- Tags: #guarantybank, #mortgage, #mortgagebanking
