News
FG Launches Non-interest Mortgage in Kano, Opens Door to All NHF Contributors
Reading in data-saving mode. Read full article from This Day website.
Published 10/27/2026 11:08:30 PM
FG Launches Non-interest Mortgage in Kano, Opens Door to All NHF Contributors – THISDAYLIVE
Ahmad Sorondinki in Kano
The federal government has launched the Federal Mortgage Bank of Nigeria’s (FMBN) non-interest mortgage product, Ijarah Muntahia Bittamleek Lease-to-Own, in Kano, pledging that no Nigerian should have to choose between homeownership and deeply held financial convictions.
The product was formally launched yesterday by the Minister of Housing and Urban Development, Dr. Muttaqhah Darma, alongside the Managing Director of FMBN, Shehu Osidi.
Under the arrangement, an eligible Nigerian occupies a home through a lease agreement, makes agreed rental payments over a defined period and becomes the owner at the end of the term.
Both speakers described the product as asset-backed, transparent, regulated and open to every eligible contributor to the National Housing Fund (NHF), irrespective of religion.
Darma said more than six million Nigerians contribute to the NHF, yet FMBN has historically booked fewer than 500 individual mortgages annually, with many contributors staying away from interest-bearing loans.
“Those Nigerians have contributed and they have aspirations. From today they have a credible pathway,” he said.
The launch marks the first public product under the National Mortgage Industry Policy issued in July 2026. The policy directs FMBN to disburse at least 40 per cent of each year’s NHF collections as mortgages, raise its loan ceiling from N50 million to N85 million, decide applications within 30 working days through an eight-document process, book 2,000 mortgages this year and 5,000 annually by 2028, and publish mortgage data quarterly.
The FMBN Managing Director said the initiative was not designed for one religious community or one part of the country, but offered an additional option compliant with ethical finance principles. He cited global Islamic finance assets of $5.98 trillion in 2024 and Nigeria’s Islamic finance industry, valued at over N4.4 trillion in 2024, up from N2.5 trillion in 2023, as evidence of a substantial opportunity to deepen inclusion in housing finance.
Both leaders said Kano was deliberately chosen as the commercial heart of northern Nigeria, with strong demand for affordable housing and ethical finance, but stressed that it was only the starting point.
The product will be rolled out to Lagos, Port Harcourt, Enugu, Ibadan, Maiduguri, Sokoto, Abuja and other cities. Meanwhile, NHF membership is targeted to grow from six million to 10 million by 2028 through trade unions, cooperatives, employers and a new diaspora window that will accept foreign-currency contributions.
To demonstrate its commitment to delivery, FMBN has designated its housing project in Bichi, Kano State, developed by AYAB Nig. Ltd., for pilot implementation. Keys will be handed over to the first beneficiaries immediately after the launch ceremony in Bichi.
On consumer protection, Darma announced a Mortgage Consumer Charter that will spell out what every customer pays and how ownership is attained, as well as the role of the Office of the Mortgage Industry Regulatory.
He further explained that the government, together with 19 states and eight professional bodies, had validated a national housing deficit of 15 million units. He said a proposal had been submitted to President Bola Ahmed Tinubu to bring all federal housing, mortgage and related institutions under one ministry.
The proposal is intended to ensure that NHF collections, Mortgage Refinance and Investment Fund (MREIF) refinancing, Federal Housing Authority construction and Family Homes Funds investments operate as a coordinated delivery system to finance homes under the Tinubu Mass Social Housing Scheme in every local government area (LGA).
§
Jobberman Nigeria, Nigeria’s leading career development and recruitment solutions company, has launched ‘Her Next Move’, a campaign designed to empower young Nigerian women with practical skills and confidence to pursue career opportunities and participate more fully in the workforce.
Through free online training, the initiative supports women aged 18 to 35 as they prepare to enter the workplace, advance into better roles or explore freelance and gig work.
Built around the message ‘Your Future. Your Skills. Your Move’, the campaign places female inclusion at the centre of career development, encouraging women to take an active role in shaping their professional futures. It connects the ambition to progress with an accessible starting point: learning skills that can help women prepare for their next opportunity.
‘Her Next Move’ recognises that career progress looks different for every woman. For a graduate, it may mean preparing for a first job. For a woman already working, it may involve developing the skills to take on greater responsibility or pursue a new role. For another, it may mean understanding how to navigate freelance work and participate in the global gig economy. The campaign brings these aspirations together through a shared emphasis on learning, preparation and action.
This Initiative by Jobberman in partnership with Mastercard Foundation promotes two courses: Jobberman Soft Skills Training and Becoming a Successful Global Gig Worker. Both courses are free, with a free certificate upon successful completion.
Jobberman Soft Skills Training focuses on workplace readiness, helping participants build the professional skills needed to navigate work and prepare for career progression. Becoming a Successful Global Gig Worker introduces participants to the demands and opportunities of freelance and gig work, supporting women interested in exploring career paths beyond traditional employment.
By making the training and certification available at no cost, ‘Her Next Move’ reduces the financial barrier to participation and encourages more young women to invest in their professional development. Its focus extends from raising awareness of learning opportunities to helping participants follow through and complete their chosen course.
To bring the campaign to life, Jobberman is working with young creators who are sharing personal stories about ambition, career transitions and the role of learning in their journeys. Through videos, social media posts and follow-up conversations, the creators encourage young women to reflect on their own goals and identify the practical steps they can take towards them.
These stories are intended to make career development relatable, connecting everyday aspirations with opportunities to learn. Across the campaign, the question “What is your next move?” invites women to define progress for themselves and begin preparing for it.
‘Her Next Move’ reinforces Jobberman’s and Mastercard Foundation’s commitment to supporting career development and expanding access to learning for young Nigerian women. By combining free skills training with relatable storytelling and encouragement to take action, the campaign seeks to help more women feel prepared to pursue their ambitions.
