Federal Mortgage Bank Of Nigeria National Housing Fund Registration, Eligibility & Refunding

In this article, we are going to be treating in details the Federal Mortgage Bank Of Nigeria National Housing Fund Registration, Eligibility & Refunding. It is obvious that not many persons are aware of this offer available through the Federal Mortgage bank of Nigeria. So, we have gathered everything you will need to know about this so you can be equipped with the right information.

The Federal Mortgage Bank Of Nigeria National Housing Fund is established to make housing loans available to Nigerians irrespective of tribe, ethnicity or language. Provided you meet up with the requirements, you can be given a housing loan.

Federal Mortgage Bank Of Nigeria National Housing Fund

Here is everything you need to know about the FMBN NHF.

How Is the Federal Mortgage Bank Funded?

  • Mandatory contribution of 2.5% of monthly income of Nigerians earning =N=3000 and above per annum.
  • Commercial and Merchant Banks to invest 10% of their loans and advances portfolio.
  • Insurance Companies are mandated to invest 20% of non-life and 40% life funds in the housing sector with 50% of these directly in the funds.
  • Financial contributions of the Federal Government.

NHF Aims and Objectives

  • Mobilization of funds for the provision of affordable residential houses for Nigerians.
  • Provide loans to Nigerians for erecting, purchasing or renovating houses.
  • Encourage programs that would enhance housing financing among low and medium income earners. The Fund is also to service the non – salaried informal sector.
  • Provide long term loans to Mortgage Institutions for lending to contributors of the Fund

Also See: List Of All Nigerian Banks Offering Business Loans

Eligibility for Loan

Here is all you need to do to be eligible.

  • Registration via NHF 1 (employer) and NHF 2 (employee) forms.
  • Deducted monthly contributions remitted to FMBN promptly. At least 6 months contributions should be made. Passbook to be updated by employer and is transferable from one employment to the other. Yearly statement of cumulative contributions plus accrued interest available.
  • Apply through any accredited Primary Mortgage Institute (PMI)
  • Applicant must provide satisfactory evidence of regular income.

Benefits Of The NHF

The benefits of the Federal Mortgage Bank Of Nigeria National Housing Fund include

  • Housing loan of up to 90% of the cost of the house.
  • Interest on loans remains fixed throughout the life of the mortgage at 6% p.a.
  • Long period of repayment of up to 30 years.
  • Contributions can serve as additional old age security.
  • Up to N15 million can be borrowed.
  • Refunds with 2% interest on retirement.
  • Loan repayment is about the same as a typical monthly rent.
  • Every contributor has:
  • A lifetime registration number;
  • A passbook for personal recording of contributions; and An account statement

Also See: All Nigerian Banks Offering PayDay Loans/Salary Advance

How To Register National Housing Fund Loan Application

All Nigerians in employment, whether self-employed or in paid employment, are required by the NHF Act No.3 of 1992 to contribute 2.5% of their basic salary/income to the fund. The Procedure for registration is as follows:

  1. 1.The Federal Mortgage Bank of Nigeria (FMBN) will supply Employer Registration Form (NHF1) to employers.
  2. 2.Employers will complete form NHF1 and return to the nearest branch of the Federal Mortgage bank of Nigeria.
  3. 3.Federal Mortgage Bank of Nigeria will register the Employer and issue an employer’s registration number.
  4. 4.Federal Mortgage Bank of Nigeria will issue form NHF2 to employers for completion by employees or directly to self employed or individual.
  5. 5.Employee will complete the form NHF2 and return to the employer.
  6. 6.The employer or self-employed individuals will return completed form NHF2 to Federal Mortgage Bank of Nigeria.
  7. 7.Federal Mortgage Bank of Nigeria will register Employees on Form NHF2 and allocate employees participation number to each employee/self-employed individual.
  8. 8.Federal Mortgage Bank will issue a passbook to each of the registered employees where the monthly deduction of his/her 2.5% basic salary will be posted by the employer.
  9. 9.At this point, an employee is now a registered participant of the National Housing Fund.
  10. 10.Employer will commence deduction of contributions at source. Such deductions/contributions are remitted to Federal Mortgage Bank of Nigeria with schedule of payment indicating the amount contributed by each employee and the period covered.
  11. 11.Self –employed contributors will also commence monthly remittances of contributions to FMBN.
  12. 12.Federal Mortgage Bank of Nigeria will accept contributions and issue receipts for payments.

NHF – Conditions for NHF Refund


  1. 1. Refund is made to a contributor who has attained 60 years of age or has put in 35 years in service.
  2. 2. Refund is also made to a contributor that has obtained a loan, liquidated the loan and has attained     the age of 60 years or have put in 35 years in service.
  3. 3. Retired from employment and becomes incapable of continuing the contribution to the Fund.
  4. 4. Refund is made to the next-of-kin of a contributor in case of a deceased contributor.

Also See: How To Apply For Bank Of Industry Loans – Guidelines & Requirements

Documents required for refund of contribution

  • – Application letter requesting for refund of contribution.
  • – Letter of offer of appointment.
  • – Photocopy of retirement letter.
  • – Letter of introduction from former Employer.
  • – Birth certificate or Declaration of age certificate.
  • – Completed NHF Contribution withdrawal forms.
  • – NHF passbook.
  • – Bank Account details through which refund would be paid.
  • – Medical Report of incapability to continue contributions due to failing health
  • – Letter of administration & Death Certificate (in case of a deceased contributor)
  • – Evidence of contribution (Receipt) for self-employed contributor
  • Biometric Verification Number (BVN)

Please visit any of our office nearest to you for further clarification and guidance.

If there is any other thing you may wish to know about the Federal Mortgage Bank Of Nigeria National Housing Fund, kindly use the comment box below and we shall attend to them. Please share this post to help others.



  2. I am a retired staff from National Productivity Centre, Bauchi Nigeria.
    I wants to know why my monthly contributions have not been refunded after 6months of my exit from work?
    Pls,treats this matter as an urgent.

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