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What CBN’s new mortgage guarantee company means to home buyers, mortgage lenders

As part of efforts to breathe life into Nigeria’s fledgling mortgage industry, the Central Bank of Nigeria (CBN) has initiated a move to float what it calls mortgage guarantee company (MGC) expected to change, significantly, Nigeria’s inaccessible and unaffordable mortgage loan story. For reasons bordering on high interest rate, equity contribution and other stringent conditions,…

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