Nigeria’s Central Bank Leads Housing Finance Sector Reform

Date Published 8/30/2011
Author Marja Hoek-Smit
Country Nigeria

The Central Bank of Nigeria (CBN) has announced that it will make reform of the housing finance one of its priorities in the next few years. Nigeria’s mortgage  sector is extremely small – less than 0.5 percent of GDP, which hampers formal housing development. On august 11, 2011, the CNB organized a Stakeholder’s Roundtable on  “Expanding Housing Finance in Nigeria” at the Central Bank in Abuja to kick off the initiative. It is  a joint effort by CNB and the Federal Ministry of Lands, housing and Urban Development (FMLHUD).  The Roundtable, which represents all public and private sector stakeholders in the sector issued a Communiqué and will meet half-yearly. Related documents:

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