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The Securities and Exchange Commission and the Federal Mortgage Bank of Nigeria have announced a partnership to develop and expand non interest mortgage products aimed at improving affordable home financing across the country.
During the announcement in Abuja, officials from both agencies said the initiative is designed to support Nigerians who prefer ethical, risk sharing and interest free financial options. The collaboration will focus on creating standardized non interest mortgage instruments, investor protections, and funding structures that comply with existing regulatory frameworks.
The SEC noted that the partnership aligns with its mandate to deepen Nigeria’s capital market and broaden investment opportunities. It also highlighted the growing demand for non interest financial solutions, especially among households constrained by high mortgage rates.
The FMBN explained that the development of non interest mortgages will help unlock housing access for low and middle income earners who struggle under conventional loan conditions. The bank said the move is part of its long term strategy to diversify housing finance and strengthen financial inclusion nationwide.
Analysts say the initiative could reshape Nigeria’s mortgage landscape, which remains underdeveloped despite significant housing deficits. They believe that interest free models could attract new classes of homebuyers and reduce the barriers that have discouraged many Nigerians from pursuing mortgage financing.
Both institutions reiterated that pilot products will be rolled out once the framework is finalized, adding that consultative engagements with industry stakeholders are already underway. They expressed confidence that the collaboration will help stimulate growth in the housing sector.
If successfully implemented, experts predict the initiative could stimulate construction activity, drive job creation, and increase investor participation in the non interest finance segment.
For millions of Nigerians seeking affordable pathways to home ownership, the SEC–FMBN partnership represents a promising step toward more inclusive and sustainable mortgage options.
During the announcement in Abuja, officials from both agencies said the initiative is designed to support Nigerians who prefer ethical, risk sharing and interest free financial options. The collaboration will focus on creating standardized non interest mortgage instruments, investor protections, and funding structures that comply with existing regulatory frameworks.
The SEC noted that the partnership aligns with its mandate to deepen Nigeria’s capital market and broaden investment opportunities. It also highlighted the growing demand for non interest financial solutions, especially among households constrained by high mortgage rates.
The FMBN explained that the development of non interest mortgages will help unlock housing access for low and middle income earners who struggle under conventional loan conditions. The bank said the move is part of its long term strategy to diversify housing finance and strengthen financial inclusion nationwide.
Analysts say the initiative could reshape Nigeria’s mortgage landscape, which remains underdeveloped despite significant housing deficits. They believe that interest free models could attract new classes of homebuyers and reduce the barriers that have discouraged many Nigerians from pursuing mortgage financing.
Both institutions reiterated that pilot products will be rolled out once the framework is finalized, adding that consultative engagements with industry stakeholders are already underway. They expressed confidence that the collaboration will help stimulate growth in the housing sector.
If successfully implemented, experts predict the initiative could stimulate construction activity, drive job creation, and increase investor participation in the non interest finance segment.
For millions of Nigerians seeking affordable pathways to home ownership, the SEC–FMBN partnership represents a promising step toward more inclusive and sustainable mortgage options.