The Nigeria Deposit Insurance Corporation (NDIC) has begun the final phase of liquidating 89 defunct microfinance and primary mortgage banks, marking a significant step in its effort to tidy up Nigeria’s troubled financial institutions and protect depositors from prolonged uncertainty. The corporation said the affected institutions had already...
•CBN head office, Abuja The Central Bank of Nigeria (CBN) has announced the revocation of operating licenses of two mortgage banks. In a circular issued today and signed by its Ag. Director, Corporate Communications Department, Hakama Ali, the apex Bank, noted that the move was part of its efforts to reposition the mortgage sub-sector and [&he...
The National Pension Commission (PenCom) has barred seven Primary Mortgage Banks (PMBs) from processing applications under the pension-backed equity contribution scheme for residential mortgages, citing their non-compliance with housing loan guidelines. In a letter published on PenCom’s website, addressed to Pension Fund Administrators (PFAs) ...
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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