Federal Mortgage Bank of Nigeria
Banking • 
Abuja, Federal Capital Territory, Nigeria • 201-500 Employees
Company overview
| Headquarters | Plot 266 Cadastral AO, Central Business District, Abuja, FCT PMB 2273, NG |
| Phone number | +2349023239419 |
| Website | |
| NAICS | 521 |
| SIC | 616 |
| Keywords | Banking, Financing, Loans, Mortgage |
| Founded | 1992 |
| Employees | 201-500 |
| Socials |
Key Contacts at Federal Mortgage Bank of Nigeria
Muhammad Kabir Abubakar
Executive Director
Gimba Yau Kumo
Managing Director/Chief Executive Officer
Federal Mortgage Bank of Nigeria Email Formats
Federal Mortgage Bank of Nigeria uses 3 email formats. The most common is {first name}.{last name} (e.g., john.doe@fmbn.gov.ng), used 83.8% of the time.
| Format | Example | Percentage |
|---|---|---|
{first name}.{last name} | john.doe@fmbn.gov.ng | 83.8% |
{first initial}.{last name} | j.doe@fmbn.gov.ng | 10.8% |
{last name}.{first initial} | doe.j@fmbn.gov.ng | 5.4% |
About Federal Mortgage Bank of Nigeria
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. In 1994, FMBN assumed the status of the apex mortgage institution in Nigeria,with the promulgation of the FMBN Act 82 [1993] and the Mortgage Institutions Act 53 [1989]. It also commenced the management and administration of the contributory savings scheme known as the National Housing Fund (NHF) established by Act 3 of [1992]. The National Housing Fund (NHF) is a social savings scheme designed to mobilize long-term funds from Nigerian workers, banks, insurance companies and the Federal Government to advance concessionary loans to contributors. In fulfilling its mandate, the Bank is to also float capital market instruments such as mortgage-backed bonds and Mortgage Backed Securities for sale to institutional investors, such as pension funds, insurance companies, securities companies and banks, to raise long term funds for its secondary mortgage lending activities. This is to ensure a sustainable supply of liquidity to finance first home mortgage loan originations. Following the reform of the Nigerian housing sector, FMBN was restructured into a Federal Government-Sponsored Enterprise (FGSE) with more focus on its secondary mortgage and capital market functions. FMBN is shifting operational emphasis to expand its functions from solely social housing on-lending under the NHF, to other areas of business including commercial on-lending for housing, refinancing of commercial mortgages created by mortgage loan originators, mortgage purchasing and warehousing and mortgage-backed securitization. The Bank's current business model targets partnerships with local and international organisations with financial and technical capacity, interested in delivering affordable mass housing for the low income end of the market.
Federal Mortgage Bank of Nigeria revenue & valuation
| Annual revenue | $12,500,000 |
| Revenue per employee | $45,000 |
| Estimated valuation?This valuation is estimated based on industry average for the Banking industry and current estimated revenues | $40,000,000 |
| Total funding | No funding |
Employees by Management Level
Total employees: 201-500
Seniority
Employees
Employees by Department
Federal Mortgage Bank of Nigeria has 92 employees across 11 departments.
Departments
Number of employees
Funding Data
Federal Mortgage Bank of Nigeria has never raised funding before.
Federal Mortgage Bank of Nigeria Tech Stack
Discover the technologies and tools that power Federal Mortgage Bank of Nigeria's digital infrastructure, from frameworks to analytics platforms.
CDN
Web servers
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PaaS
Live chat
Font scripts
SSL/TLS certificate authorities
UI frameworks
CDN
UI frameworks
Font scripts
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Frequently asked questions
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