About us

VISION AND MISSION STATEMENT

Our Vision

Operating a viable,
robust and dynamic secondary mortgage institution able to meet the challenges of developing the nation's mortgage industry

Our Mission

To supply the mortgage markets
with sustainable liquidity for the advancement of home ownership among Nigerians anchored on mortgage financing.

OUR MANDATE

As spelt out in our ENABLING ACT and other related legislations, FMBN functions include to:

  •     Provide long-term credit facilities to mortgage institutions in Nigeria.
  •     Encourage the emergence and promote the growth of viable primary and secondary mortgage institutions to service the need of housing delivery in all parts of Nigeria.
  •     Mobilizing both domestic and offshore funds into the housing sector.
  •     Link the capital market with the housing industry.
  •     Establish and operate a viable secondary mortgage market.
  •     Collect and administer the National Housing Fund in accordance with the provisions of the NHF Act.
  •     Do anything and enter into any transaction which in the opinion of the Board is necessary to ensure the proper performance of its functions under the FMBN Act.

OUR CORPORATE HISTORY

Federal Mortgage Bank of Nigeria (FMBN) was established in 1956, known then as the Nigerian Building Society (NBS), a joint venture of the Commonwealth Development Corporation and the Federal and Eastern Governments of Nigeria. Following the introduction of the Indigenization Policy, the Federal Government, by Indigenization Act [1973], acquired the NBS and consequently renamed it the Federal Mortgage Bank of Nigeria (FMBN)...READ MORE