How CBN Will Help You Own A House
The Central Bank of Nigeria, CBN wants you to sack your landlord.
That is why the apex bank and other industry stakeholders have unveiled a new scheme targeted at making it easy for people who want to own their house to collect money.
The scheme, known as ‘My Own Home’ and domiciled with the Central Bank of Nigeria, is also expected to provide awareness, education and practical tips to assist people who want to build their own house and need money over a long period of time.
The scheme is a serious one. It has the backing of big names such as the World Bank, the Federal Ministry of Finance, the Federal Ministry of Power, Works and Housing, Federal Ministry of Justice, Mortgage Banking Association of Nigeria, as well as primary mortgage banks.
At the launch of the scheme in Lagos, recently, the CBN’s Housing and Mortgage Finance Consultant on the Nigeria Housing Finance Programme, Mrs. Adenike Fasanya-Osilaja, stated that the initiative would provide mortgages, mortgage guarantee and insurance as well as housing microfinance to every Nigerian in need of a home.
She said the NMRC had already started addressing housing finance issues by refinancing long-term mortgages, which was a major problem for the primary mortgage market in the country.
There you have it, keep your ears to the ground to know when to key in.