The International Monetary Fund (IMF) has advised Nigeria to reconsider a proposed $5 billion financing arrangement with First Abu Dhabi Bank of the United Arab Emirates, warning that the transaction could expose the country to financial and transparency risks.

The caution was issued by the IMF Resident Representative in Nigeria, Christian Ebeke, who described the proposed financing structure as a complex derivatives-based instrument that may be difficult to assess due to limited transparency.

Speaking with journalists on Tuesday, Ebeke said similar transactions reviewed by the IMF in other countries often contained opaque terms, making it challenging to accurately evaluate the risks and long-term implications.

“Our view is that transactions in these types of structures carry risks. Usually they are opaque, so the terms are not always very transparent when we review these instruments across countries,” he said.

The IMF official urged the Federal Government to explore alternative financing options, including Eurobond issuances and concessional loans, rather than relying on derivative-backed funding arrangements.

The warning comes after the National Assembly approved President Bola Ahmed Tinubu’s request to secure $6 billion in external borrowing to support government spending and infrastructure development.

As part of the borrowing plan, the President sought legislative approval for a structured Total Return Swap (TRS) financing programme of up to $5 billion from First Abu Dhabi Bank.

According to Tinubu, the proposed funding is intended to support implementation of the 2026 budget, finance priority infrastructure projects and refinance existing domestic and external debt obligations.

The President also acknowledged that the additional borrowing would increase Nigeria’s public debt profile, which stood at approximately $110.3 billion, or N159.2 trillion, as of December 31, 2025.

The IMF’s intervention highlights growing concerns over the sustainability and transparency of public debt financing, particularly as developing economies seek alternative funding sources amid global economic uncertainties.

Analysts note that while structured financing arrangements can provide quick access to capital, they often require careful scrutiny to ensure they do not create hidden liabilities or expose countries to excessive financial risks.

The Federal Government has yet to officially respond to the IMF’s concerns regarding the proposed transaction.

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The Federal Government has inaugurated the board of the National Pension Commission, charging members to safeguard pension assets and strengthen governance. The PenCom board pension assets responsibility includes protecting over N28 trillion under the Contributory Pension Scheme.

The inauguration took place in Abuja, where officials described the commission as a key institution responsible for managing retirement savings for millions of Nigerians.

FG Tasks PenCom Board on Pension Assets Transparency

Speaking at the event, the Secretary to the Government of the Federation, George Akume, said the board must uphold transparency and accountability in all decisions. He stressed that strong governance will build public trust in the pension system.

He also warned against interference in daily operations, noting that management should handle routine activities while the board focuses on oversight. According to him, this balance is essential for institutional effectiveness.

PenCom Board Pension Assets Exceed N28 Trillion

Officials confirmed that pension assets under the scheme have grown beyond N28 trillion, reflecting steady expansion in Nigeria’s pension industry.

The government said the board must protect these funds through strong risk management and internal controls. As a result, contributors can remain confident that their savings are secure.

Board Expected to Drive Policy and Reforms

The government expects the board to provide strategic direction and policy guidance in line with existing pension laws. In addition, members must ensure compliance with regulatory frameworks governing the sector.

The Chairman of the board, Opeyemi Agbaje, said members will prioritise integrity and strong leadership. He added that the board will support national development by investing pension funds in key sectors such as infrastructure and housing.

Management Pledges Collaboration

The Director-General of PenCom, Omolola Oloworaran, described the inauguration as timely. She said it restores the board’s oversight role and strengthens governance within the commission.

She also pledged that management would work closely with the board to ensure decisions benefit contributors and retirees.

The PenCom board pension assets mandate highlights the importance of strong oversight in Nigeria’s financial system. With trillions of naira at stake, the board’s role remains critical to ensuring transparency, accountability, and long-term sustainability.

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The (SEC) has called for stronger participation of women in Nigeria’s capital market, stressing that increased female involvement will help strengthen financial institutions and boost investor confidence.

The call was made during the celebration held at the commission’s headquarters in , where regulators and financial experts highlighted the need for more female leadership and financial inclusion in the investment ecosystem.

Women critical to capital market growth

The Director-General of the SEC, , said women have played significant roles in the development of Nigeria’s financial system and should be given greater opportunities to contribute to the growth of the capital market.

According to him, female professionals have consistently demonstrated resilience, dedication, and leadership across various roles within the commission and the broader financial sector.

Agama noted that women have served as pillars of the Nigerian capital market, helping to strengthen institutional credibility and deepen investor trust.

He also revealed that one of the most influential mentors during his more than two decades at the commission was a woman who helped shape his professional journey.

Recognising female leaders in the SEC

The SEC Director-General highlighted the contributions of several women who have held top leadership positions within the commission, including former Director-General and former Acting Director-General .

He urged organisations and society at large to recognise the critical role women play in shaping institutions and promoting economic development.

Experts urge women to invest more

Also speaking at the event, the Founder and Chief Executive Officer of , , encouraged women to strengthen their financial decision-making and actively participate in investment opportunities.

She noted that despite working in financial institutions and related sectors, many women still lack adequate financial empowerment.

According to Alabi, building financial independence requires discipline in saving, investing, and long-term wealth creation.

She also cautioned women against fraudulent investment schemes and urged them to make informed financial decisions.

SEC officials emphasise mentorship and inclusion

In her remarks, the Executive Commissioner for Legal and Enforcement at the SEC, , said women within the commission have continued to demonstrate professionalism, resilience, and integrity in their duties.

Similarly, the Executive Commissioner for Operations, , stressed that women bring unique perspectives and thoughtful analysis to leadership and decision-making processes.

He added that the commission is creating more opportunities to ensure women thrive within the organisation and the broader capital market.

Promoting financial inclusion

Participants at the event emphasised the importance of financial literacy, mentorship, and leadership opportunities for women, noting that increased inclusion would strengthen the Nigerian capital market and support broader economic growth.

The event formed part of activities marking the 2026 International Women’s Day celebration, with stakeholders calling for sustained efforts to empower women within Nigeria’s financial system.

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The meeting will begin at 10:00 a.m. on the first day, with deliberations continuing through July 22. Governor Olayemi Cardoso is expected to announce the committee’s decisions at the close of the session.

The two-day meeting comes at a critical time, as policymakers weigh Nigeria’s inflation trends, exchange rate stability, and global economic pressures. The financial market will be watching closely for any adjustments to the Monetary Policy Rate (MPR), which currently stands at 27.5%.

At the last MPC session in May, the committee opted to retain key policy rates, including the MPR, Cash Reserve Ratio, and Liquidity Ratio. All 12 members had voted unanimously to maintain the existing rates, citing the need to observe the impact of earlier policy moves before considering new adjustments.

The upcoming meeting is expected to provide clarity on the central bank’s direction in managing inflation and supporting economic growth.

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As President Bola Ahmed Tinubu marks two years in office today, the Housing Development Advocacy Network (HDAN) has published a comprehensive evaluation of the administration’s impact on Nigeria’s housing and urban development landscape highlighting bold reforms, landmark achievements, persistent gaps, and the critical next steps required to truly bridge the country’s widening housing deficit.

When Tinubu assumed office on May 29, 2023, housing advocates and real estate stakeholders hoped for a turnaround in one of the country’s most neglected sectors. Their optimism was rekindled by one of Tinubu’s first structural decisions: the creation of a standalone Ministry of Housing and Urban Development, led by the seasoned architect and former FMBN boss, Arc. Ahmed Musa Dangiwa.

In his address at the inauguration of the National Construction and Housing Blueprint Implementation Committee, President Tinubu underscored the vision of his administration:
“Housing is more than shelter. It is dignity, security, and a pathway to economic prosperity. Our Renewed Hope Agenda aims to ensure every Nigerian, regardless of income, can access decent, affordable housing.”

HDAN’s review highlights numerous initiatives spearheaded by the Ministry and its agencies, many of which signal long-term structural reform.

The Ministry launched the Renewed Hope Cities initiative, beginning with pilot construction in Karsana, Abuja. The goal is to deliver 50,000 housing units across the country, with a focus on affordability and inclusivity for low and middle-income Nigerians.

The Ministry established four dedicated presidential task reforms teams to address core bottlenecks: Housing Institutions Reform Task Team; Multi-Agency Project Delivery Task Team; Land Reforms Task Team and Building Materials Manufacturing Hubs Task Team.

According to Minister Dangiwa, these task teams represent a strategic and coordinated approach to delivering the President’s mandate and the Renewed Hope Agenda.

In a bid to end decades of unverified data and planning blind spots, the Ministry established the National Housing Data Committee, which has advanced its research and preparatory work to set up the first-ever National Housing Data Centre. This centre is envisioned to provide real-time, credible housing statistics, essential for planning, investment, and deficit tracking.

Major Agency-Led Achievements

Federal Mortgage Bank of Nigeria (FMBN)

Under Tinubu, FMBN has disbursed over ₦73 billion in housing finance, supported over 30,000 beneficiaries, and processed over ₦30.7 billion in NHF refunds. The Bank recorded an operational surplus for 2024 and disbursed ₦11.75 billion in NHF mortgage loans to 1,285 beneficiaries.

It introduced a ₦100 billion Bankable Off-taker Guarantee and partnered with the Ministry on the Renewed Hope Housing Programme. The Bank also improved mortgage loan approvals and increased NHF contributions across the federation.

Family Homes Funds Limited (FHFL)

FHFL has delivered over 7,600 homes across 18 states and provided jobs to thousands through construction-focused youth employment initiatives.

Federal Housing Authority (FHA)

FHA has commenced social housing developments targeting teachers, medical personnel, and junior civil servants in locations such as Zuba, Enugu, and Ibadan.

Ministry of Finance Incorporated (MOFI) – MREIF

MOFI’s Real Estate Investment Fund (MREIF) has been a standout achievement raising ₦100 billion in its Series 2 offering, fully subscribed, showing strong investor confidence; achieved a AAA rating from Agusto & Co.; with total funds raised now standing at ₦250 billion (with ₦150 billion from Series 1); offers long-term, low-cost mortgage financing to make homeownership more accessible; aims to mobilize up to ₦1 trillion to close housing supply-demand gaps and strongly aligned with the Renewed Hope Agenda.

Meanwhile, the Ministry has also embarked on a massive land digitization programme through the National Digital Land Information System (NDLIS), in partnership with the World Bank. The initiative aims to document and title all land parcels within five years, formalize land use, a bold move to improve land administration and support formal real estate transactions by improving transparency and registration processes.

HDAN commends the administration for the introduction of the first-ever Nigerian Policy Prioritising Local Content, which promotes the use of indigenous materials and contractors; and the 2024 Tax Reform Act, spearheaded by the Taiwo Oyedele-led committee which includes VAT exemptions on lands, sale of real estate and rent.

HDAN’s report highlights some of the challenges still standing despite the bold strides, they include, land access bottlenecks at the state level; insufficient development finance for private sector projects; low awareness of available mortgage options among the public and outdated legal and policy frameworks slowing reform adoption.

However, HDAN insists that more must be done. critical outdated laws, including the Land Use Act of 1978, need urgent revision. There is also an immediate need to establish a national tenancy framework; strengthen inter-agency coordination and accountability; and intensify stakeholder engagement through structured dialogues and legislative lobbying.

As Nigeria celebrates two years under President Tinubu, the administration has undoubtedly changed the tone and urgency around housing policy. But for the Renewed Hope Agenda to become more than a slogan, continued collaboration, increased private sector participation, and sustained reform momentum are vital.

As HDAN rightly puts it: “Hope is not built in a day. It must be structured, supported, and secured, brick by brick.” It is important to be building more than homes, and focus on building dignity, stability, and the future of Nigeria

The post Renewing Hope, Raising Roofs: Two Years of Housing Reform Under Tinubu’s Watch appeared first on Housing TV Africa.

Speaking during the formal inauguration of AMCON’s new board in Abuja on Wednesday, Edun highlighted the importance of aligning the corporation’s activities with Nigeria’s broader economic reform agenda. He emphasized that although AMCON was initially designed as a temporary financial stabilisation mechanism, its closure must be carefully planned to avoid systemic disruption.

Dr. Bala Mohammed Bello was appointed as Chairman of the new board, with other members including Yusuf Tegina, Adeyemo Adeoye, Charles Odion Iyiore, Yahaya Ibrahim, and Emily Chidinma Osuji.

“This is more than a formal event—it marks a renewed commitment to enhancing financial sector stability, restoring investor confidence, and ensuring Nigeria’s economic resilience,” Edun stated.

He added that the corporation must go beyond recovering troubled assets, urging it to act as a model for transparency and effective resolution of non-performing loans—many of which continue to strain the banking sector and public accounts.

While praising AMCON’s role so far, the minister acknowledged that evolving economic conditions call for adaptive strategies. He outlined key priorities for the new leadership, including a strengthened asset recovery framework, intensified legal enforcement, restructuring of troubled obligations, and the strategic sale of distressed assets.

He also underscored the need for effective collaboration with institutions such as the Central Bank of Nigeria (CBN), the Judiciary, and the National Assembly, to ensure AMCON’s mandate is fully supported and executed.

In response, AMCON’s Managing Director/CEO, Mr. Gbenga Alade, expressed appreciation to the minister and pledged the board’s commitment to revamping recovery efforts. He assured that the renewed leadership would focus on delivering measurable progress in line with national objectives.

The post Edun Urges Strategic Exit Plan as New AMCON Board Takes Charge appeared first on Housing TV Africa.

Governor Mohammed Umaru Bago announced this milestone during a ceremony at the Government House in Minna, where he handed over new vehicles to key officials of the Niger State Internal Revenue Service (NSIRS). The vehicles were presented as a token of appreciation for the Service’s exceptional performance.

“The dedication of the Revenue Service team has paid off, with revenues exceeding the set target. This achievement is both commendable and unprecedented,” the governor remarked.

Governor Bago also highlighted the positive impact of the NSIRS’s performance on the state’s finances, noting that their efforts have enabled timely salary payments and other financial obligations without external assistance. He encouraged the Service to explore additional revenue-generating opportunities to further strengthen the state’s economic position.

In response, Muhammad Etsu, Chairman of the NSIRS, expressed gratitude to the governor for his continuous support. He credited the agency’s success to the autonomy and operational freedom granted under the current administration.

“With the resources and trust given to us, we have been able to operate independently and deliver impressive results. These new vehicles will further motivate our team to push the boundaries of what’s possible in revenue generation,” Etsu said.

The NSIRS now aims to build on its momentum by identifying and harnessing more revenue channels across the state.

The post Niger State Records Over N100bn in Internally Generated Revenue Within One Year appeared first on Housing TV Africa.

According to data released by the commission, Nigeria’s pension assets rose by 1.77% in February, reflecting a steady trend of financial stability within the industry. The total net asset value (NAV) of the fund climbed from N22.86 trillion in January to N23.26 trillion by the end of February.

A major portion of the fund remains allocated to federal government securities, which represent N14.46 trillion—about 62.18% of the overall portfolio.

PenCom’s report also highlighted other key investment areas. Holdings in corporate debt securities stood at N2.32 trillion, while assets in money market instruments reached N2.21 trillion in February, up from N2.18 trillion the previous month—signaling a modest rebound in that sector.

Further analysis revealed a 30.17% rise in commercial paper and a 7.77% uptick in foreign money market instruments, both contributing to the overall increase in the fund’s value.

The commission emphasized that its consistent diversification efforts are central to the resilience and long-term growth of the pension fund industry, even amid fluctuating market conditions.

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This event brought together an outstanding panel of top female leaders in housing, finance, and construction, highlighting their achievements while addressing the challenges women face in traditionally male-dominated industries.

Anchored by Housing TV Africa’s Managing Director, Flora Anne, the discussion served as a rallying call for gender inclusivity, leadership advancement, and economic empowerment within the built environment.

The event featured thought-provoking contributions from some of the most influential women in the sector with each of the distinguished speakers sharing their experiences, perspectives, and strategies for overcoming obstacles, breaking barriers, and fostering a more equitable and inclusive industry.

Delivering powerful insights, Dr. Chii Akporji, Chairperson of Shelter Afrique Development Bank emphasized the economic benefits of gender parity, stating that increasing women’s access to property and financial resources enhances productivity, improves development outcomes, and reduces poverty. She highlighted a staggering statistic that women own less than 20% of the world’s land and called for urgent reforms in inheritance laws and land administration across Africa to secure women’s financial independence and access to credit.

Arc. Mobolaji Adeniyi, President of the Nigerian Institute of Architects (NIA) called on women to actively shape the future of urban planning and housing policy, stating that architecture and urban planning have long been male-led, but that narrative is changing. She encouraged young women in architecture and design to embrace creativity, resilience, and leadership as they advance in their careers.

For Uzo Oshogwe, Managing Director and CEO of Transcorp Hotels Plc, the biggest limitation women face is not societal barriers but their own mindset. She stated that she does not see glass ceilings because she chooses not to and emphasized that women must be bold, confident, and ready to seize opportunities when they arise. She called for organizations to adopt intentional leadership development strategies that position women for top executive roles.

Ify Umunnakwe-Okeke, Founder and Executive Chairperson of Lexon Capital focused on women’s financial empowerment, highlighting the need for more than just access to capital. She explained that women entrepreneurs need training, mentorship, and the right networks to scale their businesses successfully.

According to her, access to finance is only the first step, but negotiation skills, investment knowledge, and strategic partnerships matter just as much. She encouraged women in real estate, construction, and development to actively engage in high-level financial discussions and learn the art of deal-making.

Olajumoke Akinwunmi, Co-founder and CEO of Alitheia Capital issued a challenge to women seeking leadership roles in real estate and finance, stating that leadership is never given but taken through action. She emphasized that if women wait for an invitation to the table, they will remain on the sidelines and encouraged strong networking platforms and mentorship programs to groom the next generation of female leaders.

As the President of Female Lawyers in Real Estate Practice, Peace Anomneze emphasized the critical role of legal knowledge in securing women’s rights in real estate. She urged women entrepreneurs, developers, and professionals to be well-versed in legal frameworks to protect their interests and expand their influence in the industry.

On her part, Mercy Iyortyer, Deputy President of the Real Estate Developers Association of Nigeria (REDAN) and former President of the Nigerian Institute of Quantity Surveyors celebrated the growing representation of women in the built environment, noting that quantity surveying and construction are no longer male-dominated professions and that women have risen to leadership roles, making significant contributions to the sector.

She stressed the importance of mentorship and role models in encouraging young women to pursue careers in architecture, real estate development, and urban planning.

Closing the session, Flora Anne reinforced the event’s core message that action is the next step. She emphasized that discussions like these must translate into real change and that every policy, investment, and opportunity created for women in housing, finance, and construction brings society closer to a more equitable world.

The 2025 International Women’s Day event, powered by Housing TV Africa, left attendees inspired, empowered, and ready to drive change in their respective fields.

The organizers seized the moment to urge all women in the sector both home and abroad to join the 19th Africa International Housing Show from July 27th to August 1st, 2025 at the prestigious Transcorp Hilton, Abuja for the most attended global event on housing and construction to engage with leading stakeholders and investors to drive change.

As the industry moves forward, one thing remains clear: women are not just participating; they are leading, innovating, and transforming the landscape of housing, finance, and construction across Africa.

The post Accelerate Action: Women Leaders Driving Change in Housing, Finance, and Construction Call for Gender Inclusivity appeared first on Housing TV Africa.