PenCom has released Approved List of Licensed Primary Mortgage Banks through which RSA holders can buy a House
The National Pension Commission (PenCom) has now released the approved list of Licensed Primary Mortgage Banks, which will enable Retirement Savings Account (RSA) Holders use part of their RSA balance for residential mortgage.
The release of the approved list is a welcome development because it’s now about 11 weeks that PenCom had released the guidelines for using part of RSA balance for residential mortgage, but RSA holders have been unable to commence the process because the approved list of the Licensed Primary Mortgage Banks was not available.
PenCom is expected to update the list on annual basis in compliance with the provisions of Section 4.2.5 of the “Guidelines on Accessing Retirement Savings Account (RSA) Balance Towards Payment of Equity Contribution for Residential Mortgage by RSA Holders” (the Guidelines) which stipulates that “The Commission shall liaise with the Central Bank of Nigeria (CBN) on an annual basis to determine the Mortgage Lenders that meet the stipulated minimum requirements of these Guidelines and other conditions as may be specified by the CBN from time to time.”
PenCom Approved List of Licensed Primary Mortgage Banks for RSA for Mortgage
| S/No | Primary Mortgage Banks | State | Bank Address | License /Minimum Capital Requirement |
|---|---|---|---|---|
| 1 | ABBEY MORTGAGE BANK PLC | Lagos | 23 A & B Karimu Kotun Street Victoria Island. Lagos | National/N5 Billion |
| 2 | AG MORTGAGE BANK PLC | Lagos | 96, Opebi Road, Ikeja, Lagos. | National/N5 Billion |
| 3 | AKWA SAVINGS & LOANS LIMITED | Akwa-Ibom | Plot 1, Block 1 Federal Housing Estate, Abak Road, Uyo, Akwa – Ibom State. | State/N2.5 Billion |
| 4 | ASO SAVINGS & LOANS | Abuja | Federal Mortgage Bank of Nig Bldng, Plot 266, Cadastral AO, Central Business District, P.M.B. 2273, Abuja FCT. | National/N5 Billion |
| 5 | BRENT MORTGAGE BANK LTD | Lagos | 192, Jide Oki Street, Off Ligali Ayorinde Street, Victoria Island P.O.Box 51516, Falomo, Ikoyi, Lagos. | State/N2.5 Billion |
| 6 | CENTAGE SAVINGS & LOANS | Lagos | Plot 1, Unit 2, Imam Abibu Adetoro Street, Off Ajose Adeogun Street, Victoria Island Lagos | State/N2.5 Billion |
| 7 | CITY CODE SAVINGS & LOANS | Lagos | Investment House (1st Floor), 21/25, Broad Street, P.O. Box 9521, Marina, Lagos Island. | State/N2.5 Billion |
| S/No | Primary Mortgage Banks | State | Bank Address | License /Minimum Capital Requirement |
|---|---|---|---|---|
| 8 | COOP SAVINGS & LOANS | Oyo | 15, Seventh Day Adventist Road, Oke-Bola, P.M.B. 5061, Ibadan, Oyo State. | State/N2.5 Billion |
| 9 | DELTA TRUST MORTGAGE BANK | Delta | 126, Nnebisi Road, Asaba, Delta State. | State/N2.5 Billion |
| 10 | FIRST TRUST MORTGAGE BANK (FBN/TRUSTBOND-MERGED) | Lagos | 76, Awolowo Road Ikoyi, Lagos. | National/N5 Billion |
| 11 | FHA HOMES LTD | Abuja | Asande House, Plot 2087, Herbert Macaulay Way (North), Wuse Zone 5, P.M.B. 414, Garki, Abuja. | State/N2.5 Billion |
| 12 | FIRST GENERATION HOMES | ABUJA | Syndicate Plaza, Area 11, Garki, Plot 404, Ahmadu Bello Way, Abuja. | State N2.5 Billion |
| 13 | GATEWAY MORTGAGE BANK | Ogun | Plot: 10 & 11 Aderupoko Drive, Ibara Housing Estate, Abeokuta, Ogun State | State N2.5 Billion |
| 14 | GLOBAL TRUST MORTGAGE | Lagos | Plot 741, Adeola Hopewell Street, P.M.B. 80130, Victoria Island, Lagos | State N2.5 Billion |
| S/No | Primary Mortgage Banks | State | Bank Address | License /Minimum Capital Requirement |
|---|---|---|---|---|
| 15 | HAGGAI MORTGAGE BANK | Lagos | 119, Bode Thomas Street, Surulere, Lagos. | National N5 Billion |
| 16 | HOMES-BASE MORTGAGE | Lagos | Plot 639, Adeyemo Alakija Street, Victoria Island, Lagos | State N2.5 Billion |
| 17 | IMPERIAL HOMES | Lagos | 28, Saka Tinubu Street, Victorial Island, Lagos | National N5 Billion |
| 18 | INFINITY TRUST MORTGAGE BANK | Abuja | Infinity House, 11 Kaura Namode Street, Off Faskari Crescent, Opposite Unity Bank Area 3, Garki Abuja | National N5 Billion |
| 19 | JIGAWA SAVINGS & LOANS | Jigawa | Maigatari Hotel Complex, Maigatari L.G.A, Maigatari, P.M.B. 1022, Gumel, Jigawa State | State N2.5 Billion |
| 20 | JUBILEE-LIFE MORTGAGE BANK | Lagos | 730, Adeola Hopewell, Victoria Island, Lagos, Nigeria | National N5 Billion |
| 21 | KEBBI STATE HOMES | Kebbi | Ahmadu Bello Way, P.M.B. 1110, Birnin- Kebbi, Kebbi State | State/N2.5 Billion |
| S/No | Primary Mortgage Banks | State | Bank Address | License /Minimum Capital Requirement |
|---|---|---|---|---|
| 22 | LAGOS BUILDING & INVESTMENT | Lagos | LBIC House, ASSBIFI Road, Central, Central Business District, Alausa, Ikeja, P.O.BOX 7525, Lagos | State/N2.5 Billion |
| 23 | MAYFRESH MORTGAGE BANK | Lagos | Aba Office: 83, Aba/Owerri Road, Aba, Abia State Lagos Office: 139, Broad Street, Hallmark Plaza, Apangbon, Lagos. | National/ N5 Billion |
| 24 | MGSL MORTGAGE BANK LIMITED | Abuja | 23, Aminu Kano Crescent Wuse, Zone 2, Abuja. | State/ N2.5 Billion |
| 25 | MUTUAL ALLIANCE | Akwa-Ibom | 209, Oron Road, P.M.B. 1235, Uyo, Akwa – Ibom State. | State/ N2.5 Billion |
| 26 | PRUDENTIAL MORTGAGE BANK | Lagos | 55, Bishop Oluwole Street, Victoria Island, Lagos. | State/ N2.5 Billion |
| 27 | NIGERIAN POLICE MORTGAGE BANK | Abuja | Plot 11 Port Said Street Wuse Zone 4, Abuja. | State/ N2.5 Billion |
| 28 | LIVINGTRUST (FORMARLY OMOLUABI) | Osun | Old Governor’s Office, Gbongan Road, P.M.B. 4488, Osogbo, State of Osun. | State/ N2.5 Billion |
| S/No | Primary Mortgage Banks | State | Bank Address | License /Minimum Capital Requirement |
|---|---|---|---|---|
| 29 | PLATINUM MORTGAGE BANK | Abuja | Platinum Savings & Loans Ltd 61, Yakubu Gowan Crescent Asokoro, Abuja. | National/ N5 Billion |
| 30 | REFUGE HOMES SAVINGS & LOANS | Lagos | 66, Opebi Road, Ikeja, Lagos. | State/ N2.5 Billion |
| 31 | RESORT SAVINGS & LOANS | Lagos | 12, Boyle Street, Onikan Lagos | National/ N5 Billion |
| 32 | SAFETRUST MORTGAGE BANK | Lagos | Safetrust Center, 18, Keffi Street, S.W. Ikoyi, P.O.BOX 54408, Falomo, Ikoyi, Lagos | National/ N5 Billion |
| 33 | STB BUILDING SOCIETY | Lagos | 11, Awolowo Road, Ikoyi, P.O. Box 56062, Falomo, Lagos. | State/ N2.5 Billion |
| 34 | UNION HOMES | Lagos | No. 153, Ikorodu Road, Onipanu, Lagos State. | National/ N5 Billion |
Also READ
PenCom approves using RSA for Mortgage, Check out RSA holder Eligibility, Max % Allowed & Mortgage Lender Eligibility
PenCom has released Approved List of Commercial Banks through which RSA holders can buy a House
READ all our RSA for Mortgage coverage HERE
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