Chinese investors have offered the Federal Mortgage Bank of Nigeria $4 billion to boost the nation's housing sector. This was said at the World Economic Forum on Africa going on in Abuja, the nation's capital which opened on Wednesday May 7, 2014 with participants, including Heads of Governments, CEOs of global firms, leading financiers and policy and development technocrats, from over 80 countries attending.
The Managing Director of the Federal Mortgage Bank, Mr Gimba Yau Kumo had said that part of the 200-man Chinese delegation would meet with his management team and other relevant government officials to finally agree on the deal.
Mr Kumo said the management of the Federal Mortgage Bank is also making moves to seek approval of the Federal Government to agree to the terms of the Chinese by discussing with the Minister Of Finance, Dr Okonjo-Iweala
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