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Zorluk: ZorSpecialized and Development Banks

A cooperative society formed by civil servants intends to construct a low-cost residential housing estate for its members, requiring long-term mortgage loan facilities structured over a twenty-year repayment period. Which specialized financial institution in Nigeria is legally mandated to manage the National Housing Fund (NHF) scheme and provide primary long-term mortgage credit for this project?

  1. Federal Mortgage Bank of Nigeria (FMBN)Cevap
  2. B
    Bank of Industry (BOI)
  3. C
    Central Bank of Nigeria (CBN)
  4. D
    Commercial Banks

Cevap

Federal Mortgage Bank of Nigeria (FMBN)
The Federal Mortgage Bank of Nigeria (FMBN) is the apex specialized mortgage institution established by the federal government to expand affordable social housing. It collects contributions into the National Housing Fund (NHF) scheme and disburses long-term mortgage facilities at concessionary interest rates suited for long repayment horizons such as twenty years.

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1
Analyze the financial requirements of the project scenario
The project requires long-term mortgage credit (20-year duration) and low-cost residential housing financing via the National Housing Fund (NHF).
Identifying the loan tenure and statutory funding scheme establishes which institutional mandate applies.
2
Evaluate the statutory mandates of specialized development banks in Nigeria
FMBN is designated to manage the NHF and provide social housing credit, while BOI serves manufacturing industries, CBN regulates the monetary framework, and Commercial Banks issue short-term credit.
Specialized banks are created by government enactments to address sector-specific long-term credit gaps that conventional commercial banks cannot serve.

Anahtar Kavram

Functions and statutory mandates of specialized development banks in Nigeria
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Konular

Specialized and Development Banks

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