CBN disbursed N38bn loans to mortgage banks 2022 – Report

The Central Bank of Nigeria disbursed loans and advances worth N37.6bn to mortgage banks in 2022; the audited financial statement of the apex bank has shown.

The mortgage banks that received the loans from the CBN include the Federal Mortgage Bank of Nigeria and the Nigerian Mortgage Refinance Company.

The borrowings listed under the loans and receivables section of the report showed that NMRC, a public-private refinance mortgage company, borrowed N37bn.

According to ycharts.com, loans and receivables are the funds that a company lent and are expected to be repaid within a year.

Source: punch