MTN Targets Nigeria’s $236 Billion SME Credit Gap As MoMo Expands Into Direct Lending In 2026

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MTN Targets Nigeria’s $236 Billion SME Credit Gap As MoMo Expands Into Direct Lending In 2026

MTN Group is accelerating plans to transform its mobile money business into a broader financial services platform, with Nigeria emerging as a key market in the company’s strategy to expand digital lending, payments, remittances and merchant services across Africa.

The telecommunications giant disclosed that its MoMo platform processed more than $500 billion in transactions during 2025, highlighting the growing scale of its fintech operations as it seeks to deepen its presence in underserved financial markets and attract new strategic investors.

As part of the expansion, MTN is finalising the separation of its fintech businesses in Nigeria and Uganda, a move designed to unlock investment opportunities and strengthen the independence of its digital finance operations. Brandspur Banking News Desk reports that the restructuring is also expected to support ongoing engagements with global payment technology partners and potential minority investors.

Company executives said the separation process remains a critical step in positioning the fintech units for future growth while preserving shareholder value. MTN has indicated it is open to selling minority stakes in the businesses as it seeks additional capital and expertise to support expansion plans.

Nigeria has become a major focus because of its large population, growing digital economy and persistent financing challenges faced by small and medium-sized enterprises. Industry estimates indicate that a significant proportion of Nigerian businesses remain excluded from formal lending channels, creating a funding shortfall valued at approximately $236 billion.

To strengthen its competitive position, MTN is pursuing additional regulatory approvals through its MoMo Payment Service Bank subsidiary. The company is seeking licences that would allow it to broaden payment processing capabilities, expand merchant payment solutions and increase its role in point-of-sale infrastructure.

The licensing push comes as competition intensifies among banks, fintech companies and telecommunications operators seeking a larger share of Nigeria’s rapidly growing digital payments market. Firms such as OPay and PalmPay have gained significant traction in recent years through agency banking, transfers and payment services.

MTN’s longer-term ambition extends beyond facilitating financial transactions. The company is exploring opportunities to move directly into lending in markets where regulations permit, enabling it to provide credit using its own balance sheet rather than relying solely on third-party lending partnerships.

Such a shift could significantly increase revenue opportunities for the group while also introducing new regulatory obligations and credit risk exposure. However, the company believes the opportunity remains substantial, particularly in markets where access to formal credit remains limited.

Across many African countries, millions of individuals and small businesses continue to face barriers when seeking loans for working capital, inventory purchases or emergency financial needs. Expanding access to digital credit has therefore become a major focus for financial technology providers.

Also read: https://brandspurng.com/2026/06/11/trump-revokes-hundreds-of-visas-in-major-birth-tourism-crackdown-linked-to-africa/

MTN’s fintech operations have already reached considerable scale. During 2025, transaction volumes exceeded 23 billion while monthly active MoMo users approached 70 million across the company’s operating markets, reflecting increasing adoption of digital financial services.

The company’s fintech ambitions are also supported by strategic partnerships. Its ongoing relationship with Mastercard forms part of broader efforts to attract investment and strengthen its payments ecosystem, while collaboration with Ant Group’s Alipay is expected to enhance merchant services and improve digital finance capabilities.

Industry analysts view Africa’s mobile money sector as one of the most attractive growth opportunities in global fintech, particularly as cash remains dominant across many economies and banking penetration remains relatively low compared with developed markets.

Meanwhile, competition continues to intensify. Airtel Africa is also pursuing plans to unlock value from its Airtel Money business, drawing increased investor attention to the continent’s mobile money industry and the growing importance of telecom-led financial services.

The pace of MTN’s expansion will largely depend on regulatory approvals, investor participation and successful execution of its restructuring plans. If approvals are secured, the company could significantly increase its presence in merchant payments, remittances, digital lending and other higher-value financial services.

With digital payments adoption accelerating across Africa and demand for accessible credit continuing to rise, MTN is positioning MoMo to become a central platform for how consumers and businesses transact, borrow and manage money in the years ahead.

Trump Revokes Hundreds of Visas in Major Birth Tourism Crackdown Linked to Africa

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Trump Revokes Hundreds of Visas in Major Birth Tourism Crackdown Linked to Africa

The United States government has revoked hundreds of visas after uncovering what it described as organised birth tourism networks operating across West Africa, North Africa and parts of Europe, marking a major escalation in its efforts to combat visa fraud and tighten immigration controls.

According to the U.S. State Department, investigations by American diplomatic missions identified groups that allegedly helped foreign nationals obtain visitor visas under false pretences before travelling to the United States to give birth. U.S. authorities said more than 100 individuals connected to a West Africa-based network had their visas cancelled after investigators uncovered the use of fraudulent documentation and intermediaries who assisted applicants throughout the visa process.

The latest enforcement action highlights Washington’s growing focus on detecting visa misuse and dismantling international networks suspected of exploiting U.S. immigration rules, Brandspur Politics reports. American officials said they are working with authorities in affected regions to identify additional operators and prevent similar schemes from emerging.

Also read: https://brandspurng.com/2026/06/11/simba-power-unveils-energy-storage-solutions-for-hospitals-amid-nigerias-power-challenges/

Investigators also reported uncovering more than 400 suspected birth tourism cases in Europe since 2024. The cases were allegedly linked to several companies accused of helping clients prepare for visa interviews, arrange accommodation in the United States and coordinate childbirth-related travel plans. In North Africa, authorities said another wave of visa cancellations affected parents believed to have travelled primarily to secure American citizenship for their children through birth on U.S. soil.

The crackdown builds on policies introduced during President Donald Trump’s first administration. In 2020, the United States updated visitor visa rules, allowing consular officers to deny applications when they determine that the principal purpose of travel is to give birth in the country for citizenship benefits. The regulation remains in effect and has become a central part of the government’s strategy against birth tourism.

Federal immigration authorities maintain that while giving birth in the United States is lawful, providing false information during a visa application process constitutes immigration fraud. The renewed enforcement campaign comes amid broader efforts by the Trump administration to strengthen border security, increase scrutiny of visa applications and target organised immigration-related fraud.

For African travellers, the development signals heightened examination of visitor visa applications, particularly where officials suspect applicants may be concealing their true travel intentions. The State Department has not publicly identified the countries involved, disclosed the nationalities of those affected or released evidence detailing the investigations, making independent verification of the full scope of the operation difficult.

The issue remains closely tied to the ongoing debate over birthright citizenship in the United States, where most children born on American soil automatically acquire citizenship regardless of their parents’ nationality. While U.S. officials argue that stronger enforcement is necessary to protect the integrity of the immigration system, reliable global data on the scale of birth tourism remains limited, leaving questions about the true extent of the practice worldwide.

Simba Power Unveils Energy Storage Solutions For Hospitals Amid Nigeria’s Power Challenges

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Simba Power Unveils Energy Storage Solutions For Hospitals Amid Nigeria’s Power Challenges

Simba Power has introduced a new range of energy storage and hybrid power systems targeted at hospitals, laboratories, clinics and other healthcare facilities, as healthcare providers seek more reliable electricity solutions to support critical medical operations across Nigeria.

The company showcased the technologies at the 2026 WHX Medic Exhibition, presenting battery energy storage systems, hybrid inverter platforms and grid-integrated power solutions designed to minimise disruptions caused by unstable electricity supply. The move comes as healthcare institutions continue to invest in modern medical equipment that requires consistent power availability.

Reliable electricity remains a major operational requirement for healthcare facilities, particularly for diagnostic services, imaging centres, laboratories and patient care units where interruptions can affect service delivery. Industry stakeholders have increasingly highlighted energy reliability as a key factor in improving healthcare outcomes and operational efficiency.

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According to Brandspur Brand News, Simba Power said its latest solutions are designed to help healthcare organisations lower energy costs, improve power stability and reduce dependence on conventional diesel-powered generation. The company noted that healthcare providers require energy systems capable of supporting essential services around the clock while maintaining efficiency.

The energy solutions also aim to support sustainability goals by helping facilities optimise electricity consumption and strengthen long-term energy management strategies. As fuel costs and power supply concerns continue to affect operating expenses, many organisations are exploring alternative energy technologies to improve resilience.

Simba Power stated that the initiative aligns with its broader focus on delivering specialised energy infrastructure for critical sectors of the economy. The company added that local technical support and service capabilities will play an important role in ensuring healthcare institutions can maximise the benefits of the new systems.

With Nigeria’s healthcare sector expanding and increasing adoption of advanced medical technologies, demand for dependable power infrastructure is expected to remain a priority for hospitals and other healthcare providers seeking uninterrupted service delivery.

Glo Unveils New Data Plans With Up To 10% Bonus Data For Customers In 2026

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Glo Unveils New Data Plans With Up To 10% Bonus Data For Customers In 2026

Globacom has launched a refreshed suite of data bundles offering subscribers additional data benefits as competition intensifies in Nigeria’s growing digital economy. The telecom operator said customers will receive more value across selected weekly and monthly plans, with bonus allocations designed to support increasing demand for internet connectivity.

The revised packages provide higher data volumes for users across different spending categories, targeting consumers who rely on mobile internet for entertainment, education, remote work, social media engagement and business activities. The offering combines regular data allowances with additional night browsing benefits, giving subscribers greater flexibility in how they consume data.

According to Brandspur Brand News, the latest initiative reflects the industry’s continued focus on delivering affordable connectivity solutions as data usage becomes a key driver of revenue growth for telecommunications operators. Rising demand for video streaming, digital commerce, online learning and content creation has increased pressure on network providers to offer more competitive packages.

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Under the updated structure, subscribers can access enhanced weekly and monthly plans ranging from entry-level bundles to larger packages designed for heavy users. The plans include expanded allocations for both daytime and off-peak browsing, allowing customers to maximise their internet usage without significantly increasing costs.

The company said the new bundles are also aimed at supporting small businesses, entrepreneurs and households that depend on mobile hotspots for daily operations. As more Nigerians embrace digital tools for work and communication, reliable and affordable data access remains a critical requirement for productivity and economic participation.

Globacom added that customers can conveniently manage their subscriptions through the Glo Café application, which enables users to purchase bundles, monitor usage and access available benefits. The company said the new offer reinforces its commitment to delivering competitive value while supporting Nigeria’s ongoing digital transformation.

NIMN To Induct 100 Marketers, Elect New Council Members At 2026 Port Harcourt Conference

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NIMN To Induct 100 Marketers, Elect New Council Members At 2026 Port Harcourt Conference

The National Institute of Marketing of Nigeria (NIMN) has announced plans to induct about 100 new marketing professionals and conduct elections to fill six vacant positions on its governing council during its 2026 Annual Marketing Conference and Annual General Meeting (AGM) in Port Harcourt.

Scheduled for June 18 to 20, the three-day event is expected to bring together marketing practitioners, business leaders, academics, policymakers and students from across Nigeria to discuss emerging trends shaping the future of the profession.

The conference, themed “Community, Culture and Connection: Re-imagining the New Market,” will also serve as a platform for professional advancement, with qualified participants eligible for induction into Associate and Fellow categories of the institute. According to Brandspur Brand News, the AGM will provide members an opportunity to participate directly in leadership decisions through elections into vacant council seats.

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Activities will begin with a dedicated students’ conference designed to connect aspiring marketers with experienced industry professionals and expose them to practical realities within the marketplace. The programme will also feature keynote presentations, panel discussions and research sessions focused on the evolving relationship between consumers, brands and communities.

One of the major highlights will be the unveiling of a collaborative research project between NIMN and Lagos Business School examining how community engagement, cultural relevance and meaningful connections are reshaping marketing strategies in Nigeria and beyond.

NIMN President, Bolajoko Bayo-Ajayi, said the institute is encouraging marketers to move beyond traditional audience-reach metrics and focus on building stronger relationships with consumers. She noted that the conference is designed to deliver practical insights that support innovation, professional development and long-term value creation within the Nigerian economy.

The event will conclude with the institute’s AGM, where members will deliberate on governance matters, elect new council representatives and discuss strategic priorities for the future of marketing practice in Nigeria.

Zeeoma Opens The Door: Applications Now Open For Africa’s Most Anticipated Creative Commerce Opportunity

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Zeeoma Opens The Door: Applications Now Open For Africa’s Most Anticipated Creative Commerce Opportunity

The Open Door Lagos Edition Invites Nigeria’s Best Fashion, Accessories, Art,
and Lifestyle Brands to Compete for U.S. Market Access and Up to ₦5 Million in
Seed Capital.

LAGOS, NIGERIA — June, 2026 – Zeeoma, an African curated concept store in
St. Louis, Missouri, has today launched The Open Door Lagos Edition, a structured, public open call for Africa’s most compelling creative brands to apply, receive mentoring, and access up to ₦5 million in seed capital. Isioma and Chizoba Ezepue founded Zeeoma with a singular mission: to curate the best of African design, fashion, lifestyle products, art, books, and accessories, bringing the depth and excellence of African creativity directly to American consumers.

Applications are now open for startups in Fashion & Apparel, Accessories &
Jewellery, Art & Home, and Beauty & Wellness. This structured stage values craft,
storytelling, and cultural relevance, where winning offers a genuine commercial
opportunity rather than fleeting recognition.

The Open Door Lagos Edition is not a competition for recognition. It is a commercial
opportunity with tangible benefits. Selected brands will secure: an active listing on
Zeeoma’s curated U.S.-facing marketplace, showcasing African creative products to
American consumers actively seeking what Africa produces; and access to up to ₦5
million for business growth and expansion. Finalists will have the chance to pitch live
in person at a showcase and present directly to the Zeeoma team in Lagos.

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This Lagos edition marks the inaugural launch of a broader, scalable platform
designed to link African creative talent with U.S. consumers, investors, and
institutions, using St. Louis as the American hub and Lagos as the African launchpad.

“The African creative economy is not an emerging market; it is an underestimated
one,” says Isioma Ezepue, Co-Founder of Zeeoma. “The Open Door is Zeeoma’s
response, a structured, supported, and serious opportunity for African brands to
access the U.S. market on their own terms. We are not asking the world to pay
attention to African creativity; we are making it impossible for them not to.”
Applications are open to independent fashion designers, accessory and jewelry
brands, textile artisans, art and home decor makers, and beauty and wellness
founders across Nigeria. Zeeoma welcomes both early-stage creators with strong
brand stories and established brands looking to scale commercially.

Brands will be evaluated based on four core pillars, craft excellence, brand
storytelling, cultural relevance and commercial readiness.
Applications are officially open and will close on 21st June, 2026.

To apply, interested brands should visit https://bit.ly/Z-OpenDoor and complete the
online application form.

For enquiries, contact customercare@zeeoma.com

About Zeeoma
Zeeoma is a curated African concept store and marketplace founded on the belief that
not everyone will travel to Lagos, but everyone should be able to experience it. The
first Black-owned curated African concept store in St. Louis, Missouri, Zeeoma carries
established and emerging African designers across fashion, art, beauty, and home. Its
mission: to bridge African heritage, innovation, and creativity into everyday life in the
U.S. and to give African brands a serious, elegant, and unapologetic platform on the
world stage.

Fidelity Bank Reaffirms Support For MSMEs, Drives Growth Agenda At SME Forum

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Fidelity Bank Reaffirms Support For MSMEs, Drives Growth Agenda At SME Forum

Leading financial institution, Fidelity Bank Plc, has reaffirmed its commitment to advancing the growth and sustainability of Micro, Small and Medium-scale Enterprises (MSMEs), positioning itself as a trusted partner beyond traditional banking and financing.

This commitment was reiterated by the bank’s management during a keynote address delivered by the Executive Director, South, Mrs. Pamela Shodipo, at the recently held SME Quarterly Business Forum in Port Harcourt, Rivers State.

The Forum, themed “Scaling Trade and Distribution of Businesses for Sustainable Growth,” brought together entrepreneurs, business owners, industry experts and customers for insightful discussions on strategies for expanding businesses, strengthening distribution networks and unlocking sustainable growth opportunities in Nigeria’s evolving marketplace.

In her address, Shodipo reiterated Fidelity Bank’s commitment to supporting SMEs beyond traditional banking and financing. She stated, “Our objective is clear: to help Nigerian enterprises grow, become more competitive and create sustainable value in their communities and the wider economy. We want to be more than a provider of funds; we want to be your trusted partner in growth,” she said.

Further emphasising the strategic importance of the host city, the bank’s Executive Director described Port Harcourt as a critical economic hub, with significant influence across trade, logistics, marine services, manufacturing, agriculture, and the energy sector.

“Port Harcourt occupies a strategic place in the economic life of Nigeria. It is a major commercial hub, a gateway to the South-South and a city whose influence extends across trade, logistics, marine services, manufacturing, agriculture and energy. Businesses here understand what it means to operate in a dynamic environment, respond to market demand quickly and keep commerce moving,” she said.

Shodipo maintained that, the Forum’s theme was particularly relevant given the vital role trade and distribution businesses play in connecting producers to consumers, supporting supply chains, creating jobs and sustaining livelihoods.

“Trade and distribution businesses play a critical role in the Nigerian economy. They connect producers to consumers, support supply chains, create jobs and sustain livelihoods. In the South-South, this role is even more significant because the region remains one of the vital arteries of commerce in Nigeria, with strong links to ports, industrial activity, wholesale trade and regional distribution networks,” she remarked.

The bank’s Executive Director also highlighted initiatives such as the Fidelity Nigeria International Trade and Creative Connect (FNITCC), which connects businesses to international markets like the UK and US, as well as partnerships with the Nigeria Export Promotion Council (NEPC) and Lagos Business School through the Export Management Programme, alongside the Fidelity SME Hub for advisory support.

In her remarks, Mrs. Ugochi Osinigwe, Divisional Head, Small and Medium-scale Enterprises, Fidelity Bank Plc, said the forum was designed to provide business owners with actionable insights and valuable networking opportunities that can accelerate growth.

“SMEs remain the backbone of Nigeria’s economy, and at Fidelity Bank, we are deliberate about creating platforms that expose entrepreneurs to knowledge, innovation and opportunities that help them build resilient and scalable businesses. This forum reflects our ongoing commitment to supporting SMEs beyond banking by equipping them with the tools and connections needed to thrive in today’s competitive environment,” Osinigwe said.

She encouraged participants to leverage the Bank’s various SME-focused initiatives, advisory services and digital solutions to strengthen their operations and position their businesses for long-term success.

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Participants at the forum commended Fidelity Bank for creating a platform that addresses real business challenges and provided practical solutions.

One of the participants, Mr. Andy Macozi, praised the initiative, saying, “The forum was timely and informative. The discussions addressed challenges many business owners face daily, and I believe more entrepreneurs will benefit if Fidelity Bank continues to organize such seminars and knowledge-sharing sessions.”

Also speaking, Chief Uche Aham, an oil and marine services entrepreneur, described the forum as insightful and impactful.

“I commend Fidelity Bank for bringing together business owners to learn and exchange ideas. The sessions were practical and insightful. It would also be helpful if participants could receive comprehensive materials from the forum for future reference and implementation,” he noted.

The Fidelity Bank SME Quarterly Business Forum is the latest of the bank’s initiatives aimed at empowering entrepreneurs, fostering innovation and driving sustainable economic development across Nigeria.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 10 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is a recipient of multiple local and international awards, including the 2025 Development Bank of Nigeria (DBN) Innovation Award for MSME support; Best Retail and SME Bank Award from Independent Newspapers; Best Bank for Export & Trade Finance and Most Innovative Bank of the Year at the 2025 BusinessDay Banks and Financial Institutions (BAFI) Awards; and Nigeria’s Best Private Bank at the 2025 Euromoney Awards. The Bank also received the inaugural Most Improved Commercial Bank of the Year award by Nairametrics, the SME Bank of the Year award by NewsDirect, and the Straight-Through Processing (STP) Excellence Award by Citi Group, in addition to recognition by Global Brands Magazine for Excellence in Community Empowerment

Senegalese Entrepreneur Introduces Digital Poultry Management System To Cut Farm Losses And Boost Productivity In 2026

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Senegalese Entrepreneur Introduces Digital Poultry Management System To Cut Farm Losses And Boost Productivity In 2026

A Senegalese entrepreneur, Mengué Diouf, has developed a digital poultry management platform that enables farmers to monitor operations in real time, reduce production losses and improve overall efficiency across poultry farms in Senegal.

The innovation, built under her agritech company SEDAP’Tech, was created after Diouf experienced major setbacks in her own poultry business, where poor remote supervision of farm operations led to significant production losses. The platform now integrates solar-powered surveillance tools, mobile connectivity and data tracking features to give farmers full visibility over daily farm activities.

Brandspur Brand News reports that the solution is gaining attention within West Africa’s agritech space as digital tools become increasingly important in addressing agricultural inefficiencies and strengthening food production systems.

Before launching the technology, Diouf trained professionally in poultry farming at the Centre de Référence aux Métiers de l’Aviculture in Diamniadio before setting up her own poultry business. However, operational challenges across multiple farm locations resulted in repeated production failures, including losses that reached as high as 70 per cent in her first production cycle and 30 per cent in the next.

Her experience led to the development of SEDAP’Tech, a system designed to provide farmers with continuous access to farm data and live monitoring capabilities regardless of location. The platform allows users to oversee worker activity, feeding schedules, production trends and livestock health indicators through a mobile application.

The technology also records key performance data such as mortality rates and feed usage, allowing farmers to make faster and more informed decisions based on real-time farm conditions. This shift from manual supervision to digital oversight has improved transparency and operational control for users across different farming locations.

Diouf disclosed that the system has already been installed in more than 200 setups across 82 poultry farms in Senegal, offering both technological support and operational training to farmers adopting the platform.

Agricultural experts note that poultry farming remains one of the fastest-growing livestock sectors in Africa, but it continues to face challenges linked to disease control, poor monitoring systems and inefficiencies in farm management. Digital innovation is increasingly being viewed as a key solution to improving productivity and reducing losses within the sector.

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Industry stakeholders in Senegal say the country’s poultry industry has reached near self-sufficiency, but maintaining and improving output requires stronger integration of technology-driven systems to support farmers and reduce operational risks.

The platform has also contributed to increased participation of women in poultry farming, with training programmes showing a growing number of female entrants into the sector, as more individuals adopt agribusiness as a pathway to entrepreneurship and income generation.

Diouf’s work gained further recognition after SEDAP’Tech won a national agritech award in 2025, highlighting the role of innovation in transforming traditional farming practices. Despite the recognition, she maintains that her primary goal remains focused on solving everyday operational challenges faced by poultry farmers through practical and accessible technology solutions.

Her innovation continues to position digital agriculture as a growing force in West Africa’s food production ecosystem, helping farmers improve efficiency, reduce losses and strengthen long-term sustainability in poultry farming.

Former Air Canada Captain Charged After Flying Passengers For 17 Years Without Required Pilot Licence

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Former Air Canada Captain Charged After Flying Passengers For 17 Years Without Required Pilot Licence

A former Air Canada captain has been charged in Canada after authorities alleged he operated hundreds of passenger flights over nearly 17 years without holding the airline transport pilot qualification required for his position.

Investigators say Geoffrey Wall commanded more than 900 domestic and international flights between 2009 and 2025 while allegedly lacking the Airline Transport Pilot Licence for Aeroplanes (ATPL-A), a certification required for captains operating large commercial aircraft. The case has sparked widespread attention within the aviation industry due to the length of time the alleged irregularity went undetected.

Canadian law enforcement authorities announced that Wall was arrested on June 1 following an extensive investigation into his professional credentials. Officials allege that he presented documentation that misrepresented his qualifications to both regulators and his employer during his career progression.

Brandspur Brand News gathered that the former pilot flew several wide-body aircraft types during his tenure and earned approximately three million Canadian dollars in salary before retiring in 2025, shortly before the investigation commenced.

The inquiry reportedly began after a routine review of licensing records uncovered discrepancies in documentation linked to his qualifications. Air Canada subsequently alerted regulatory authorities, leading to a formal investigation known as Project Icarus.

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Authorities have emphasised that the case centres on licensing compliance rather than a lack of flying experience. According to information released by the airline, Wall held a commercial pilot licence and regularly completed mandatory training and competency assessments required of flight crew members.

Air Canada has stated that its internal safety procedures include recurrent simulator training and periodic flight evaluations conducted by certified examiners. The airline maintains that these safety measures remained in place throughout the period under review.

Nevertheless, aviation regulators regard pilot licensing as a fundamental component of aviation oversight, ensuring that individuals occupying command positions meet all legal and professional requirements established for commercial airline operations.

Wall now faces multiple criminal charges, including fraud-related offences and allegations connected to forged documentation. He has also been sanctioned by Transport Canada, the country’s transportation regulator.

The case is expected to proceed through the Canadian court system, with legal proceedings scheduled to continue later this month. Aviation experts say the outcome could prompt renewed scrutiny of credential verification processes across the commercial airline industry.

Tinubu Confirms 1,859 Families Access N128bn Mortgage Loans Under National Housing Scheme in 2026

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Tinubu Confirms 1,859 Families Access N128bn Mortgage Loans Under National Housing Scheme in 2026

President Bola Ahmed Tinubu has announced that 1,859 families across 25 states have successfully accessed mortgage financing worth N128 billion through the MOFI Real Estate Investment Fund, marking a major milestone in the federal government’s ongoing housing affordability drive.

The development is part of the administration’s expanded housing finance programme under the Renewed Hope Agenda, which is structured to improve access to long-term, low-interest home ownership loans for Nigerians previously excluded from formal mortgage systems. According to the Presidency, the loans were issued at a fixed interest rate of 9.75 per cent with a repayment period of 20 years, positioning them among the more structured housing finance options introduced in recent years.

Brandspur Banking News Desk reports that the mortgage scheme forms a central pillar of the federal government’s strategy to stimulate both home ownership and construction sector growth, while addressing Nigeria’s widening housing deficit through structured financial instruments and public-private collaboration.

The President disclosed that the broader housing programme is designed to deliver 100,000 homes nationwide, with an initial phase of 50,000 units spread across housing cities in each geopolitical zone and the Federal Capital Territory, alongside smaller estates across other states. He added that construction activity is already underway in multiple locations, including over 3,000 housing units in Karsana, Abuja, and a 2,000-unit estate in Ibeju-Lekki, Lagos, which is reportedly in an advanced stage with ongoing sales.

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More than 15,000 housing units are currently under construction across the country, reflecting a gradual scale-up of federal housing delivery efforts aimed at increasing supply and easing pressure on urban housing markets.

The administration also highlighted ongoing reforms targeting structural bottlenecks in the housing sector, particularly land administration, construction financing, and rising building material costs. In collaboration with the World Bank, the government is working to strengthen land registration systems and expand formal land ownership documentation, with a long-term goal of significantly increasing the proportion of registered land parcels nationwide.

Additional reforms include improved legal frameworks for equipment leasing to support contractors, as well as the establishment of regional building materials hubs intended to reduce costs and boost local production capacity within the construction value chain.

Officials further noted that the Family Homes Funds initiative is being deployed to support vulnerable groups, including widows and low-income households, with a broader ambition of delivering hundreds of thousands of homes while also generating employment across the housing and construction ecosystem.

While acknowledging the scale of Nigeria’s housing shortfall, the federal government maintains that sustained investment in housing finance, infrastructure, and regulatory reform is beginning to reshape the sector into a stronger contributor to economic growth, job creation, and household wealth accumulation.

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