30 results
- 18 Sept 2019
Federal Mortgage Bank Seeks N500Bn Recapitalisation Fund
Mr. Umar Dankane, executive director, Business Development and Portfolio Management of the Federal Mortgage Bank of Nigeria has said that the bank needs a N500 billion recapitalisation fund for…
- 7 Oct 2025
FG-backed mortgage reforms help over 700 Nigerians become homeowners in 6 months
More than 700 Nigerians have successfully transitioned from renters to homeowners within six months, following the implementation of landmark mortgage reforms spearheaded by the Federal Government…
- 10 Mar 2020
FG Accuses Mortgage Bank MD of N32.6m Fraud
Federal government has dragged, Bayo Adewakun, a former managing director of Mortgages PHB Limited before the Federal High Court in Lagos, for allegedly defrauding the mortgage bank of the sum of…
- 19 May 2024
NDIC Gets Court Order, to Wind Down 96 Microfinance, Mortgage Banks
Nigeria Deposit Insurance Corporation (NDIC) has said that it has obtained Winding up Orders for 96 out of 183 microfinance and primary mortgage banks whose licenses were revoked by the Central Bank…
- 21 Aug 2018
Nigerians in the US to Establish Bank in Nigeria
Nigerian community in the United States has put measures in place to establish a community bank. The proposed bank would serve the interests of the Nigerian community in that country and those…
- 16 Feb 2024
FMBN Extends Loans to NHF Contributors
The Federal Government has assured the Federal Mortgage Bank of Nigeria (FMBN) of legislative amendments of relevant housing industry laws that will pave the way for its recapitalisation to N500…
- 5 Apr 2019
NDIC Recovers N29Bn from Debtors of Failed Banks
Nigeria Deposit Insurance Corporation (NDIC) said it has so far recovered N29bn from debtors of liquidated deposit money banks, microfinance banks and primary mortgage banks in the country. …
- 14 Nov 2025
SEC Partners FMBN Partner on Non-Interest Mortgage Framework
Securities and Exchange Commission (SEC) and the Federal Mortgage Bank of Nigeria (FMBN) have announced a strategic collaboration to develop a robust Non-Interest Mortgage (NIM) ecosystem. This…
- 5 Feb 2015
FMBN Seeks N250Bn Recapitalization for Effective Service Delivery
Mr. Gimba Ya’u Kumo, managing director of the Federal Mortgage Bank of Nigeria (FMBN), has requested for recapitalization of the bank to the tune of N250 billion to enable it deliver…
- 23 Nov 2009
FMBN Plans to Grow Investment to N1.1 trillion
The Federal Mortgage Bank of Nigeria (FMBN) is planning to grow its investment volume to about N1.1 trillion, making it one of the biggest banks in the country. Abdulsalam Ahmed, managing…
- 3 May 2022
FMBN Management Pledges to Prioritize Completion of ICT Project
The newly inaugurated management team of the Federal Mortgage Bank of Nigeria (FMBN) has listed the completion of the bank’s Information Technology project and its recapitalisation drive as…
- 14 Nov 2023
Interswitch System Glitch: Court Orders Freezing of Accounts in 54 Banks
Justice Peter Lifu (JP) of a Federal High Court sitting in Lagos has granted an order freezing some accounts in about 54 financial institutions in the country where alleged funds from Interswitch…
- 23 May 2023
CBN Revokes Licences of 132 Microfinance Banks, Others
Central Bank of Nigeria (CBN) has revoked the operating licences of 132 microfinance banks, four primary mortgage banks, and three finance companies in the country. The revocation exercise was…
- 29 Jun 2026
NDIC Says 281m Depositors Protected against Bank Failure
Nigeria Deposit Insurance Corporation (NDIC) has said more than 281 million depositors across the country’s banking system are protected against bank failure, following reforms that significantly…
- 29 Aug 2021
ICPC Recovers FMBN’s N53bn from Estate Developer
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) on Sunday said it has recovered N53 billion from a real estate developer for the Federal Mortgage Bank of Nigeria. The…
- 8 Jan 2014
FG to Float NMRC, New Mortgage Company
The Federal Government plans to establish a new Nigeria Mortgage Refinance Company (NMRC) to revive the housing sector. According to a release by the Ministry of Finance on Federal Government…
- 19 Sept 2024
Polaris Bank Announces New Board Appointments
Central Bank of Nigeria (CBN) has constituted a full Board of Directors for Polaris Bank, Nigeria’s leading digital commercial retail Bank in a major transition that signals the remarkable…
- 15 Apr 2026
NDIC Seeks Court Nods to Liquidate 89 Failed Banks
Nigeria Deposit Insurance Corporation (NDIC) said that it has commenced the process of liquidating 89 closed Microfinance Banks (MFBs) and Primary Mortgage Banks (PMBs). This followed their…
- 7 Apr 2021
Mobile Money: MTN Expands Cardless Cash Withdrawal Service to 44 Financial Institutions
Following the recent USSD drama, Y’ello Digital Financial Services (YDFS) has announced the expansion of its MoMo Agent cardless cash withdrawal service to over 40 banks and other financial…
- 14 May 2026
NDIC Drags Wema Bank to Court over N125.38Bn Banana Island Assets
Nigeria Deposit Insurance Corporation (NDIC), acting as liquidator of the defunct Gulf Bank Plc., has instituted two separate actions at the Federal High Court in Lagos against Wema Bank Plc. The…
- 5 Sept 2016
CPC Probes Resort Savings & Loans over Alleged Diversion of Deposits
Consumer Protection Council (CPC) has began probe operations of Resort Savings and Loans Limited (RSL) over allegations of diversion of depositors’ monies and mortgage loans, following inundated…
- 6 Dec 2020
CIBN Chief Tasks Banks on Strengthening Cybersecurity
Chartered Institute of Bankers of Nigeria (CIBN) has urged banks to strengthen their cybersecurity architecture to protect themselves against attacks by fraudsters. Mr. Bayo Olugbemi,…
- 29 Mar 2023
FG Arraigns First Bank MD, Others over Alleged Forgery
Federal Government has charged First Bank of Nigeria Ltd, its managing director, and three other individuals with alleged forgery, according to report by bizwatchnigeria.ng. The charge sheet filed…
- 7 Apr 2019
NDIC Saves 6,000 Jobs in Defunct Skye Bank
The Nigeria Deposit Insurance Corporation (NDIC) has said the corporation was able to save 6,000 workers from being dismissed from defunct Skye bank (now Polaris) as a result of poor handling of the…
- 25 Aug 2024
#EndBadGovernance Protest: Court freezes 32 individuals, coys’ bank accounts
A Federal High Court in Abuja has frozen the bank accounts of 32 individuals and companies’ linked to the 10-day #EndBadGovernance Protest organised across the country pending investigation and…
- 21 Jul 2026
Senate Passes Landmark Insurance Reform Bill, Replaces 1997 NAICOM Act
The Senate yesterday recorded two major milestones in Nigeria’s financial sector, passing a landmark Insurance Regulatory Commission Bill to replace the nearly three-decade-old National Insurance…
- 20 Sept 2021
Sekibo Urges Govt., Stakeholders to Prioritise SMEs, Youth Entrepreneurship
Bridging the gap to attain sustainable solutions to economic recovery will be the most impactful route to drive lasting and meaningful growth; for this to be achieved, creation of opportunities,…
- 2 Nov 2023
NDIC to Shut Down Some Banks over Default, Blames Cabals for Failure
Nigeria Deposit Insurance Corporation (NDIC) is working on a winding-up rule that will allow it to take down failing institutions, according to Bello Hassan, managing director of NDIC. Hassan stated…
- 6 May 2024
CBN Orders Banks to Charge 0.5 Percent Cybersecurity Levy
Central Bank of Nigeria (CBN) has ordered banks operating in the country to start charging a cybersecurity levy on transactions. A circular from the apex bank on Monday disclosed that the…
- 11 Mar 2013
CBN Imposes N150, 000 Cheque Withdrawal Limit Nationwide
Central Bank of Nigeria (CBN) said that it will from June 1, implement a policy that places N150,000 limit on all over-the-counter cheque withdrawals in commercial banks, microfinance banks and…