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Developers fault FMBN on NHF debtors’ list

Yinka Kolawole Private real estate developers and other stakeholders in the housing development sector, under the aegis of Real Estate Developers Association of Nigeria (REDAN), have denounced the recent publications by the Federal Mortgage Bank of Nigeria (FMBN) of its purported list of bad debtors. After a recent meeting of the association, National President of
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Banking crisis stalls privatisation as prefer and reserve bidders for SACHOL cannot raise funds

The impact of the Central Bank of Nigeria’s banking reforms has started taking its toll as the Federal Government agency saddled with the sale of government interests in businesses in Nigeria, Bureau of Public Enterprises, BPE, has found that buyers of some of the companies it has sold cannot raise the money to effect payment .

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Lagos mortgage law underway with public hearing

The Lagos State House of Assembly has held a public hearing to herald a bill aimed at regulating mortgage practice in the state.
In his welcome address, Chairman, House Committee on Finance, Hon. Adeola Olamilekan, said that when passed into law, the bill will encourage the growth of mortgages in property, regulate various aspects of consumers loans for acquisition of property and realisation of securities and other connected matters.

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