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Good Morning,
The Federal Mortgage Bank of Nigeria (FMBN) has delivered more than 9,000 housing units over the past two years, marking a significant milestone in efforts to improve access to affordable housing nationwide. The bank also reported strong growth in mortgage disbursements and construction financing, underscoring its expanding role in supporting homeownership, residential development and housing supply across the country.
FMBN Delivers Over 9,000 Housing Units, Expands Affordable Housing Finance
The Federal Mortgage Bank of Nigeria (FMBN) has financed 9,076 housing units between 2024 and 2025, reinforcing its role in expanding access to affordable housing across the country. The bank also recorded substantial growth in construction financing and mortgage disbursements during the period as it intensified efforts to support low-income earners, informal sector workers and property developers.
Akwa Ibom Unveils New Drainage Master Plan to Strengthen Urban Flood Resilience
The Akwa Ibom State Government has announced plans to develop a new drainage master plan following recent flooding that affected several communities in Uyo and surrounding areas. The initiative is intended to strengthen flood management, improve urban drainage infrastructure and reduce the impact of recurring flooding on residential neighbourhoods and public infrastructure.
Construction Progresses on Kauran Gwandu Housing Estate in Kebbi
Construction is progressing on the Kauran Gwandu Housing Estate in Kebbi State, a residential development designed to expand housing access, support urban growth and strengthen residential infrastructure within the state. The project forms part of ongoing efforts to increase the supply of formal housing and provide planned residential communities capable of accommodating a growing population.
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Court Orders Final Forfeiture of 52 Lekki Housing Units to Federal Government
A Federal High Court in Lagos has ordered the final forfeiture of 52 residential housing units in Lekki to the Federal Government, concluding a major asset recovery case pursued by the Economic and Financial Crimes Commission (EFCC). The ruling grants the government permanent ownership of the properties after the court determined that the commission had met the legal requirements for forfeiture under Nigeria's asset recovery framework.
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Dangote Refinery Raises $2.5 Billion in Pre-IPO Private Placement
Dangote Refinery has secured $2.5 billion through a private placement exercise ahead of its planned Initial Public Offering (IPO), marking a significant milestone for one of Africa's largest industrial projects. The fundraising attracted strong investor interest and provides additional capital to support the refinery's operational growth, expansion plans and long-term strategic objectives.
Supreme Court Restores Forfeiture of Emefiele's Lagos and Delta Properties
The Supreme Court has restored the forfeiture of several properties linked to former Central Bank of Nigeria (CBN) Governor Godwin Emefiele, reversing an earlier Court of Appeal ruling and reaffirming the Federal Government's claim to the assets. The judgment affects properties located in Lekki and Ikoyi in Lagos State, as well as Agbor in Delta State, which had previously been subjected to forfeiture proceedings initiated by the Economic and Financial Crimes Commission (EFCC).
Quote of the day:
“Progress begins the moment systems replace shortcuts, and accountability becomes the standard.”
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