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PenCom Releases Full List of Approved Mortgage Banks Which RSA Holders Can Buy House

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PenCom Releases Full List of Approved Mortgage Banks Which RSA Holders Can Buy House

PenCom Releases Full List of Approved Mortgage Banks Which RSA Holders Can Buy 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 to use part of their RSA balance for residential mortgages.

The release of the approved list is a welcome development because it’s now about 11 weeks since PenCom 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.”

You may also want to read How To Apply For PenCom Compliance Certificate As A Company

below is the full list of approved list of Licensed Primary Mortgage Banks:

PenCom Releases Full List of Approved Mortgage Banks Which RSA Holders Can Buy House

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
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
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
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
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

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