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MORTGAGE is a form of conveyance of title to property that is given as security for the payment or performance according to the stipulated terms and becomes void if the terms are met.
[Black’s Law Dictionary]
MORTGAGE IN NIGERIA AND HOW TO BENEFIT
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[Black’s Law Dictionary]
MORTGAGE IN NIGERIA AND HOW TO BENEFIT
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The mortgage system was introduced in Nigeria in 1956 with the establishment of the Nigerian Building Society(NBS).
Federal Government in 1977, by Indigenization Act(1972), acquired NBS and renamed it to Federal Mortgage Bank of Nigeria(FMBN).
Federal Government in 1977, by Indigenization Act(1972), acquired NBS and renamed it to Federal Mortgage Bank of Nigeria(FMBN).
Until the Mortgage Institutions Act(1989), provided the regulatory framework for establishment of Primary Mortgage Institutions(PMIs), FMBN was the only primary institution specialized in retail mortgage banking in Nigeria.
Building Plan Approval in Abuja: Requirements and Guide.
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Be sure of the specific use of the space before embarking on plan preparations as it must be consistent with the land use plan of the area.
Proper title for the land must be collected from Abuja Geographical Information System (AGIS).
Apply for building plan approval through The Department of Development Control.
Apply for building plan approval through The Department of Development Control.
