FMBN Endorses 30-day Mortgage Processing To Quicken Homeownership

BY CHIKA OKEKE, Abuja

Managing Director/Chief Executive of Federal Mortgage Bank of Nigeria (FMBN) Shehu Usman Osidi (2nd L), flanked by others during the Bank’s 2026 Management Strategy Retreat in Kano.

As part of its commitment to improve customer service, the Federal Mortgage Bank of Nigeria (FMBN) has endorsed a 30-day turnaround time for National Housing Fund (NHF) mortgage loan processing and a maximum of eight documentation requirements to quicken access to affordable homeownership.

Managing Director/Chief Executive of FMBN, Shehu Usman Osidi stated this during the bank’s 2026 Management Strategy Retreat in Kano with the theme: “Building Resilience through Innovative Customer Service.”

He pointed out that the ministerial directives provided important benchmarks, challenging management to improve efficiency and deliver measurable results for NHF contributors, mortgage applicants and other stakeholders.

Osidi called for a review of procedures that cause delays, removal of unnecessary documentation and improved coordination across departments.

The MD requested the review of the responsibilities of Zonal and Branch Offices to enable appropriate decentralisation of decision-making and disbursement, supported by clear controls and accountability.

‎While acknowledging the bank’s progress in financial performance, housing delivery and digital transformation, he was optimistic that the gains must translate into better customer experiences.

He sought greater use of FMBN’s digital channels, including the iBank platform, NHF online portal, FMBN Mobile App, *219# USSD service and Contact Centre, alongside wider adoption of electronic document management and automated workflows.

Osidi disclosed that the board has approved the establishment of a dedicated NHF Diaspora Loan and Non-Interest Mortgage Strategic Business Units to strengthen implementation of the respective products. 

He hinted that the bank is also establishing an Innovation Hub in Kaduna to develop and test innovative housing finance solutions, beginning with a pilot project, focused on the informal sector.

The MD said: “The bottom line in all of these is to make the bank easier to reach, easier to transact with and faster in delivering results.”

‎Presenting an update on the current strategy and priorities for 2027–2029, the bank’s Group Head of Strategy and Performance Management, Mr. Oladapo Fakeye identified opportunities to deepen mortgage penetration, accelerate loan origination, strengthen credit quality and recovery, and advance digital transformation to improve service delivery.

‎The Chairman of the Retreat Organising Committee, Mr. Ahmed Mohammed Ka’oje stated that the retreat would review the implementation of the 2022–2026 five-year Strategy Blueprint and guide the development of a new three-year Strategy Blueprint for 2027–2029.

He disclosed that a fireside chat had been introduced to encourage direct engagement between executive management and senior officers on operational challenges and practical reforms.

President and Chief Executive Officer of Financing and Partnerships Africa Limited, who is also the guest speaker, Dr. Emmanuel Akinwumi shared perspectives on strengthening development finance institutions, drawing on FMBN’s institutional development and lessons from the Canada Mortgage and Housing Corporation.

‎The three-day retreat provided a platform for the bank’s executive management, group heads, zonal and branch managers to review institutional priorities and chart the way forward for the bank's next strategic cycle.