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.