The Federal Mortgage Bank of Nigeria (FMBN) has said its newly developed National Mortgage Registry will strengthen transparency, improve access to mortgage information, and restore confidence in Nigeria’s real estate market. The digital platform, which has been approved by the National Council on Housing, is designed to serve as a central repository for mortgage transaction records across the country.

Speaking at a stakeholders’ workshop on the validation of the National Housing Data Programme Report and the proposed National Housing and Built Environment Regulation Policy in Abuja, FMBN Managing Director and Chief Executive Officer, Shehu Usman Osidi, disclosed that the registry has reached a major milestone and is ready for deployment. He explained that stakeholder engagement, data collection, cleansing, and validation are currently underway before the system becomes fully operational.

According to Osidi, the registry will provide a reliable digital database of mortgage transactions, enabling financial institutions, regulators, and other stakeholders to verify mortgage information more efficiently. He said the initiative is expected to strengthen risk management, improve transparency, reduce fraud, and increase investor confidence in Nigeria’s housing finance sector.

The FMBN boss noted that the success of the mortgage registry will depend on collaboration among federal and state governments, land registries, financial institutions, mortgage banks, developers, professional bodies, and other industry stakeholders. He added that the project complements the National Housing Data Programme by providing credible information to support housing policy, investment decisions, and mortgage financing.

Osidi reiterated that reliable housing and mortgage data are essential to addressing Nigeria’s housing deficit and expanding access to affordable homeownership. He maintained that a transparent mortgage system will improve confidence among investors, lenders, developers, and prospective homeowners while supporting sustainable growth in the real estate sector.

Industry stakeholders described the National Mortgage Registry as a significant step towards modernising Nigeria’s housing finance ecosystem. They believe the platform will improve mortgage documentation, enhance property transaction security, strengthen consumer protection, and promote greater accountability across the real estate industry.

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The Lagos State Government has entered into a partnership with the Economic and Financial Crimes Commission (EFCC) to strengthen efforts against fraud and other illegal activities in the state’s real estate sector. The collaboration aims to improve transparency, protect property buyers and investors, and restore public confidence in land and housing transactions.

Speaking during a stakeholders’ engagement, state officials said the partnership will focus on identifying fraudulent real estate schemes, investigating land-related financial crimes, and strengthening enforcement against individuals and organisations involved in property scams. The initiative is also expected to enhance information sharing between both institutions to improve regulatory oversight.

The government noted that the rapid growth of Lagos’ real estate market has created opportunities for fraudulent land transactions, fake property allocations, multiple sales of the same property, forged land documents, and unregistered estate developments. Authorities said stronger collaboration with the EFCC will help reduce these practices and improve accountability across the sector.

Officials also urged prospective property buyers and investors to carry out proper due diligence before purchasing land or housing units. They advised members of the public to verify property ownership, confirm land titles with relevant government agencies, and engage qualified legal and real estate professionals before completing transactions.

The EFCC reaffirmed its commitment to investigating and prosecuting financial crimes within the real estate industry, stressing that fraudulent activities undermine investor confidence, discourage legitimate investment, and negatively affect economic development.

Stakeholders welcomed the initiative, describing it as an important step towards sanitising Nigeria’s real estate market. They called for stronger regulation, digital land administration systems, improved property registration processes, and greater public awareness to reduce fraud and promote a more transparent property sector.

The Lagos State Government reiterated that protecting investors and ensuring integrity within the real estate industry remain key priorities as the state continues to attract local and international investment in housing and infrastructure development.

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