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About: Federal Mortgage Bank of Nigeria     Goto   Sponge   NotDistinct   Permalink

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The Federal Mortgage Bank of Nigeria was founded by the Federal Government of Nigeria in 1977 to replace the Nigerian Building Society which was founded in 1956. Between 1978 and 1985, it was the only mortgage institution in Nigeria. According to the constitution of Nigeria, the Federal Mortgage Bank was established to meet the housing needs of all citizens of the country. It is regarded as the apex mortgage finance institution in the country and regulates the activities of primary mortgage loan originators.