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Get to know FEDERAL MORTGAGE BANK OF NIGERIA (FMBN)

The Federal Mortgage Bank of Nigeria (FMBN) is a wholly-owned government institution that serves as Nigeria's foremost secondary mortgage entity. Established initially in 1956 and later reconstituted by the FMBN Act of 1993, its mandate is to provide long-term credit facilities to mortgage institutions and directly to individual Nigerians through various loan windows. The bank's core mission is to promote the delivery of affordable and modern houses to Nigerians by supplying the mortgage markets with sustainable liquidity and encouraging the growth of a robust mortgage and housing finance market in the country. It manages the National Housing Fund (NHF), a mandatory contribution scheme for Nigerian workers, which serves as a pool of funds for its lending operations.

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FEDERAL MORTGAGE BANK OF NIGERIA (FMBN)

Nigeria

Founded in

1972 (54 Years)

Founded

Last online: No recent activity

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BridgerPay

(180 reviews)

Cyprus

2017

(9 years)

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A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.