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CBN Unveils New Housing Scheme

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By Orjime Moses, Abuja

The Central Bank of Nigeria has launched a new housing scheme through Nigeria housing Finance Programme which is aim at creating easy access to house ownership.

The deputy director Other Financial Institutions Supervision Department, Mrs Martins Tokunbu who represented CBN Governor said the aim of launching “My Own Home” scheme is to increase access to housing finance and housing in Nigeria.

According to her “My Own Home” scheme has a broad-based stakeholders and partnership that include; the federal government of Nigeria, federal Ministry of finance, Central Bank of Nigeria, the World bank, Federal ministry of power, Works and housing, the federal ministry of justice and Mortgage Banking Association of Nigeria (MBAN). Mortgage originating institutions are participating in the scheme through equity stake they took in Nigeria refinance Mortgage refinance Company (NMRC).

“My Own Home” scheme has set up a framework that will revamp the housing finance sector and also make access to housing finance a lot easier through Nigeria mortgage Refinance Company (NMRC), Housing Microfinance Scheme,” She added.

Also speaking, National Housing Mortgage Finance Specialist Ofi Suppervision dept. Central Bank Of Nigeria Adenike Fasanya added that you can own a home, when you rent you are putting up somebody else investment but when you own a home you live in peace.



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