FMBN gets N680bn Chinese support

FMBN Managing Director Gimba Kumo who gave the hint noted that the 200-member Chinese delegation are expected to meet with his management team and other relevant government officials for final agreements on the deal. He said this was a major achievement recorded at the just concluded World Economic Forum (WEF) held in Abuja. “The Chinese have […]

FMBN Managing Director Gimba Kumo who gave the hint noted that the 200-member Chinese delegation are expected to meet with his management team and other relevant government officials for final agreements on the deal.
He said this was a major achievement recorded at the just concluded World Economic Forum (WEF) held in Abuja.
 “The Chinese have made an offer to us to lend us about $4 billion to the Federal Mortgage Bank of Nigeria. The only requirement they are asking for now is for the Federal Government to give them a Sovereign Guarantee. To them, they believe this is the way they have been financing housing industry in other climes, especially in Brazil and Singapore where they have a very strong presence,” he said.