Economy / WORLD

FMBN plans non-interest mortgages and rent assistance products

The bank aims to launch both by October’s end and says it financed 6,911 housing units under its 2025 targets.

Event / source period: 19 October 2026
Published: 20 October 2026 at 18:18 GMT+3 · Updated: 20 October 2026 at 18:18 GMT+3

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The Federal Mortgage Bank of Nigeria plans to launch non-interest mortgage and rent-assistance products before the end of October 2026, managing director Shehu Usman Osidi said at an Abuja event on 19 October. FMBN published its account on 20 October.

The bank said it financed 6,911 affordable homes under 2025 presidential and ministerial deliverables, 96% of a 7,200-unit target, and approved over ₦208bn in housing loans, with more than ₦120bn disbursed. The new products are plans, not completed launches.

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