Federal Housing Authority (FHA)
The Federal Housing Authority was established under the Decree 40 of 1973
(now CAP 136 Laws of the Federation of Nigeria, 1990) and was conferred among
others, the responsibilities of preparation and submission of proposal on National
Housing Programme and making recommendations on all aspects that relate to
housing programmes as approved by the Federal Government. These roles were,
however, further expanded in December 2006. Under the expanded mandate, FHA
is to focus on the following:
i. Development and management of real estates on commercial basis in
all the States of the Federation and the Federal Capital Territory;
ii. Provision of sites and services for all income groups with special emphasis
on the low income group;
iii. Provision of low income and rural income housing in all States of the Federation
and the Federal Capital Territory, from funds provided by the Federal Government and other
iv. Executing such housing programmes as may be approved by the Federal Government and
v. Making recommendations to Government on aspects of urban and regional planning
, electricity, sewage and water supply as may be relevant to the execution of approved housing
Federal Mortgage Bank of Nigeria (FMBN)
The 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. The Bank operates as an effective vehicle to increase the
mobilization of long-term funds, lending volume and expansion of mortgage lending services to all
segments of the Nigerian population.
In 1994, the Federal Mortgage Bank of Nigeria, with the promulgation of the FMBN
Act 82 (1993) and the Mortgage Institutions Act 53 (1989) was accorded the status
of the apex mortgage institution and also assumed a managerial role over the
contributory savings scheme known as the National Housing Fund (NHF)
established by Act 3 of 1992.
The National Housing Fund (NHF) is a pool that mobilizes long-term funds from
Nigerian workers, banks, insurance companies and the Federal Government to
advance concessionary loans to its contributors. To meet its mandate, the
FMBN has shifted operational emphasis to expand its functions from only social
housing on-lending under the NHF to include: commercial on-lending for housing,
commercial mortgage refinancing, mortgage purchasing and warehousing,
and mortgage-bank securitization.
The FMBN is run through the Board of Directors appointed by the President and
Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria.
It also has a Management Team which is made up of the Managing Director/Chief
Executive Officer and Executive Directors.