The Federal Mortgage Bank of Nigeria (FMBN) considers strategic partnerships with reputable Primary Mortgage Banks (PMBs) as critical to its efforts to deliver affordable housing to Nigerians.

The MD/CE FMBN, Madu Hamman, stated this last week when the Bank hosted a delegation from the Platinum Mortgage Bank Plc. The team was led by the Board Chairman, M.D Abubakar, former Inspector General of Police (Rtd), and the MD/CEO Emmanuel Ndubuisi Mbaka at the Bank’s Head Office in Abuja.

Mr. Hamman noted that FMBN requires well-functioning Primary Mortgage Banks as retail outlets to provide affordable home loans to Nigerians.

“As a wholesale housing finance institution operating in the Secondary Mortgage Market, FMBN considers Primary Mortgage Banks (PMBs) as critical partners in our efforts to deliver affordable housing to Nigerians. We cannot do our part well if the PMBs are not living up to expectation. We therefore, welcome opportunities to deepen collaboration with PMBs, because doing so helps us strengthen the housing delivery chain, while enabling us to make affordable homes possible for Nigerians,” he said.

The FMBN MD/CE added that Platinum Mortgage Bank is a longstanding partner of the Bank and welcomed the visit as a base for re-charting a more progressive and impactful way forward.

“We recognize Platinum Mortgage Bank Plc as an active player in Nigeria’s housing and mortgage market. Therefore, we are pleased with the visit and ready to deepen our partnership in a way that delivers value.”

We continue to encourage those PMBs that are doing well to continue to do so. We also encourage those falling behind to also up their game, so we can build synergies that help us deliver affordable housing to Nigerians,” he said.

In his remarks, the Board Chairman, Platinum Mortgage Bank Plc, MD Abubakar, thanked the FMBN Management for it’s readiness to collaborate with the PMB. He said he looked forward to the resolution of all pending issues and the resumption of the partnership.