History of Federal Mortgage Bank of Nigeria (FMBN), Federal Government Agency of Nigeria, Gifmis code, Functions, Duties and Addresses.
Federal Mortgage Bank of Nigeria (FMBN)
It was established by the Federal Government of Nigeria in 1973 to replace the Nigerian Building Society which was founded in 1956. Between 1978 and 1985, it was the only mortgage institution in Nigeria. According to the constitution of Nigeria, the Federal Mortgage Bank was established to meet the housing needs of all citizens of the country.
Federal Mortgage Bank of Nigeria was propositioned to become a regulator of the primary mortgage originators as the apex mortgage lending institution in the country and its primary mortgage lending activities was taken over by the Federal Mortgage Finance Company of Nigeria.
Federal Mortgage Bank of Nigeria (FMBN) Gif mis code:
0124004001
Federal Mortgage Bank of Nigeria (FMBN) Function
Federal Mortgage Bank of Nigeriacollects and manages the National Housing Funds.
The Federal Mortgage Bank also mobilizes domestic and foreign funds into the housing sector, and is also a link between the mortgage market and the capital market.
From time to time, the bank introduces different innovative mortgage-related programs and products to achieve its aims.
Federal Mortgage Bank of Nigeriaencourages and promotes the establishment and development of mortgage institutions at federal, state, local, and even rural areas.
They also encourages the growth of the required of lasting secondary mortgage institutions to meet the housing needs of our country.
Federal Mortgage Bank of Nigeria (FMBN) Duties
They give long term loan to accredited institution for a period of 30 years, which is secured by the mortgaged property.
FMBN Promote greater transparency and accountability on E&S issues internally and externally through disclosure and reporting.
FMBN Integrate Environmental & Social Risk Management consideration into the mortgage financing decision making processes.
FMBN implement and comply with national requirements for Environment & Social (E&S) risk management in Nigeria’s financial sector.
Federal Mortgage Bank of Nigeria (FMBN) Headquarters
266 Cadastral AO, Central Business District. PMB 2273 Garki Abuja. Nigeria
Federal Mortgage Bank of Nigeria (FMBN) Zone office
Adamawa Zone Office
Oposite FCE Yola main gate. along Jemata / Yola Road P.O.Box 503, Yola, Adamawa State
Ananbra Office
No.5 Nnamdi Azikiwe Avenue (last Floor) P.M.B 6024,Awka, Anambra State
Apapa Office
Relocated to 23A Marina Street, Island Lagos State) Mamman KOntagora House, 5th Floor,23A Marina Street, Lagos Island, Lagos State.
Bauchi State
Bauchif M B N Building. Plots 34/36 Abdulkadir Ahmed Road, P.M.B. 0227
Bayelsa State
Bayelsaox -Bow LAke Road. Central Business Districk, Swali – Attissa Yenogoa.
Benue State
enue 39 New Bridge Road, Beside GT Bank Markurdi.
Borno State
No. 50/51 Shehu Laminu Way, Opp. Dandal Police Station, Maiduguri
Metropolitan Council.
Cross Rivernelson
Mandela by Bedwell Street (Watt Market) Calabar
Delta State
260 Nnebisi Road, West End, Opp. Uzoigwe Primary School. Asaba
Ebonyi State
25 Ezza Road, Abakaliki
Rivers Zonal Office
No. 43 Aba Road / Plot 1 Kaduna Street, P.M.B 5585, Port Harcourt,