as the new mortgage refinance company is set to take off 3rd quarter of this year.

The Mortgage Banking Association of Nigeria (MBAN) is the Umbrella body for all Mortgage Banks licensed by the Central Bank of Nigeria to engage in Mortgage Business in Nigeria. Its main focus is to ensure the access to mortgage finance for provision of affordable housing through effective advocacy for improved legal/regulatory/operating environments for home-ownership finance in Nigeria.

MBAN was incorporated on August 06 1992 under the Companies and Allied Matters Act (CAMA) and is recognised by the Central Bank of Nigeria (CBN); Nigeria Deposit Insurance Corporation (NDIC) and Capital Market Agencies such as Securities Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) as the Self-Regulatory Organisation (SRO) and Catalyst for development of the Mortgage Banking/ Housing Finance Sector in Nigeria.

MBAN on regular basis, provides inputs for the formulation of National Housing/ Urban Development Policies and Debates/Fora as they affect the Sector and its Member-Mortgage Banks. The Association is also committed to building Ethics and Professionalism, enhancing the Human Capacity for the Sector as well as providing reliable mortgage related information to consumers and investors.

 Scope of Permissible Activities for Mortgage Banks as contained in the Guidelines issued by the Central Bank of Nigeria

Mortgage finance

  • Real estate construction finance within the permitted limits
  • Acceptance of savings and time/term deposits
  • Acceptance of mortgage-focused demand deposits
  • Drawing from mortgage funds (e.g. National Housing Fund Facility) for on-lending
  • Financial advisory service for mortgage customers

<>l.Other activities the CBN may approve from time to time


Taking into account the needs and concerns of our members, MBAN works to foster an effective and competitive market place by promoting a legislative, regulatory and operational environment in which the businesses of mortgage banking service providers can prosper. We engage policy makers, regulators, foreign investors, institutions and individuals to ensure that the interests of all our Mortgage Banks and Mortgage Professionals are adequately represented in nationally relevant issues of Mortgage banking / Housing Finance and delivery in Nigeria.

Most Significantly, MBAN is deeply committed to providing affordable housing to Nigerians via mortgage arrangements in tandem with the Vision 20:2020.

Click on any of the adjoining links to find out more about our advocacy campaigns on Land, Housing & Urban Development, Mortgage Banking Operations and Supervision & Regulation. You can also find a summary of our Strategic Plan here or familiarise yourself with industry related policies here .

Advocacy Campaigns and Actions to date


Through successful collaboration with the Federal Mortgage Bank of Nigeria (FMBN), MBAN is working to agree obtainable measures for the reform and/or implementation of the following:

  • –     National Housing Fund (NHF) Scheme
  • –       Sustained exclusion of non-mortgage originating financial institutions in the on-lending window of the NHF Scheme
  • –       Placement of Term deposits with Mortgage Banks as done with Commercial Banks i.e. expanding the scope to include Mortgage Banks
  • –           Collection by Mortgage Banks of NHF Monthly Contributions from the bonafide Contributors to the Scheme, on behalf of FMBN, to deepen and strengthen the Scheme.
  • –       Acceptance of Bank Guarantee from Mortgage Banks.


MBAN and its Member-Mortgage Banks took the initiative and the lead in coordinating the establishment of a Liquidity Facility Company in Nigeria via Tiers 1 and 2 Capital from local and foreign stakeholders such as the Mortgage Banks, Commercial Banks, Federal Ministry of Finance Incorporated (MOFI), Sovereign Wealth Fund (SWF), International Finance Corporation (IFC) and Shelter Afrique which resulted in the Incorporation of the Nigeria Mortgage Refinancing Company (NMRC).

The Company would provide access to long-term funds needed to boost the Mortgage Banking Sector towards an increase in affordable housing and homeownership.


MBAN has a strong track record for advocating policies and changes to laws which aim at realising the goal of affordable housing for Nigerians.

MBAN in collaboration with other Stakeholders formed a Coalition Group known as the Land Use Act Amendment Advocacy Group (LUAAAG) to push advocacy for removal of the Land Use Act 1978 from the Nigerian Constitution. A Position Paper to that effect was duly submitted to the National Assembly Committee on Amendments to the Constitution of the Federal Republic of Nigeria


The Consolidation/Reforms being carried out by the Central Bank of Nigeria (CBN) on the Mortgage Banking Sector are at the conclusion phase with the Minimum Regulatory Capital of N5billion and N2.5billion for the National and State Authorisation Licences respectively.

Consequently, the CBN has recently issued new, robust Guidelines for the emerged Mortgage Banks that engage in mortgage business operations, in the post-consolidation era.


MBAN in collaboration with the Central Bank of Nigeria (CBN), Nigeria Mortgage Refinance Company Plc. (NMRC) and International Finance Corporation (IFC) are at the concluding stages of crafting new Uniform Mortgage Underwriting Standards for the Mortgage Banking Sector. The Standards would form the planks for the re-financing of mortgages created by the Mortgage Banks through the avenue of Nigeria Mortgage Refinancing Company (NMRC).


MBAN is exploring the possibility of optimising access to mortgage/housing finance through the platform of the Amended Pension Fund Scheme as a veritable source of long term funding for the mortgage sector to provide affordable housing to the RSA Contributors in particular and the totality of Nigerians, in general.

 Contact Details:

Mortgage Banking Association of  Nigeria (MBAN)

Skye Bank Building (4th Floor)

30 Marina , Lagos

Tel: 01-454-6653


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