Regulation of Mortgage Guarantee Companies in Nigeria
The Central Bank of Nigeria has published final Regulation for the Operations of Mortgage Guarantee Companies in Nigeria (Guideline).
The Guideline prescribes the basic requirements for the business of providing mortgage guarantees to mortgage lenders.
It sets the capital requirements for the Mortgage Guarantee Companies (MGCs). In addition, it outlines minimum paid-up capital, maximum leverage limit, and the minimum risk-weighted capital requirement.
The Guideline also prescribes permissible investments and liquidity requirements for MGCs.
The full details are available here.
Photo Credit: Pixabay