The FEC has approved the request made by the FMBN to purchase core banking application software from FINTAX at about N487.39million.
The immediate past MD of FMBN, Richard Esin, has been given a 48-hour ultimatum to present the bank's five-year financial statements, refund salaries earned
The FMBN does not have a strong capital base and this is affecting the availability of low-cost housing in Nigeria.
Recently, Babatunde Fashola disclosed that the Federal Government is currently constructing affordable homes in 34 states of the federation.
The United Nations (UN) has advised the Nigerian Government to start taxing vacant houses in the country.
Platinum eyes N10bn share capital in one year
The Federal Mortgage Bank of Nigeria (FMBN), has disbursed N23.3 billion under its Home Renovation Loans window to 28,363 beneficiaries.