Mortgage Banking in Nigeria

Mortgage Banking in Nigeria

MORTGAGE BANKING IN NIGERIA –  THE COLONIAL PERIOD

During the early colonial period, the housing activities and policies of government focused essentially on the provision of quarters for the expatriate staff and for selected indigenous staff if specified occupations like Railway, Police and so on.This period saw the establishment of government residential Areas (G.R.A) as well as a few “African Quarters”.  No effort was made by the government to build houses for sale or rent to the general public and little was done to allow the growth of settlement outside the government ordinance (CAP95), the Lagos Executive development board (LEDB) was created in 1928 and charged with effective planning and development of Lagos. [Read more…]