Business
Gateway Mortgage Bank Secures ₦2.2B from Real Estate Fund
Gateway Mortgage Bank MREIF secures ₦2.2B for mortgage loans, improving access to affordable housing and long-term finance for Nigerians
Gateway Mortgage Bank Limited, wholly owned by the Ogun State Government, has been approved as a partner bank under the Real Estate Investment Fund of the Ministry of Finance Incorporated (MREIF).
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The initiative aims to address Nigeria’s housing deficit and expand mortgage access for homebuyers.
The Acting Managing Director of Gateway Mortgage Bank, Ronke Akinleye, disclosed that the bank has secured ₦2.2 billion under the scheme and has commenced disbursement to qualified beneficiaries.
The fund targets individuals seeking structured mortgage financing, making homeownership more accessible for Nigerians, including those in the diaspora.
Under the programme, eligible applicants can access mortgage loans of up to ₦100 million at an interest rate of 9.75 percent per annum, with repayment periods of up to 20 years, depending on retirement age and income profile.
Applications remain open, with several beneficiaries already benefiting from the facility.
Prospective borrowers are required to make a minimum 10 percent equity contribution, open an account with Gateway Mortgage Bank, and present properties with valid titles such as Certificates of Occupancy or Deeds of Assignment.
Applicants must also demonstrate regular and verifiable income to support loan repayment.
Officials described the initiative as a critical step toward reducing Nigeria’s housing gap, enhancing long-term housing finance, and stimulating the real estate sector.
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They encouraged eligible Nigerians to take advantage of the opportunity, noting that the programme aligns with broader national efforts to promote affordable housing and economic growth.
Business
ISAT Group Rebrands, Partners Afro Mobile to Launch High-Speed Broadband Services in Nigeria by Q3 2026
New identity signals bold expansion as landmark investment accelerates affordable, high-speed connectivity for millions of Nigerians.
Nigeria’s digital economy is set for a major boost as ISAT Group unveiled a new corporate identity and announced a strategic alliance with Afro Mobile, ahead of its Q3 2026 commercial launch.
The partnership is underpinned by Afro Mobile’s acquisition of a 40% equity stake in ISAT Group and a US$3 billion financing package structured by Equiline Finance, positioning the alliance among the largest indigenous broadband investment initiatives in Nigeria’s telecommunications sector.
The rebranding marks ISAT Group’s evolution into a next-generation digital connectivity company focused on broadband, satellite communications and enterprise solutions. Together, the partners will expand affordable, high-speed internet access to homes, businesses, government institutions and underserved communities nationwide.
ISAT Group Chief Executive Officer, Dr. Adeyanju Binuyo, described the development as a transformational milestone.
“Our vision extends beyond connectivity. We are building the digital infrastructure that will power businesses, connect communities, stimulate innovation and accelerate Nigeria’s digital economy. This partnership demonstrates our commitment to making world-class broadband accessible to every Nigerian.”
Group Chairman, Mr. Ganiyou AFOLABI Moustapha, said the alliance reflects ISAT Group’s long-term confidence in Nigeria’s future.
“This investment is a strong vote of confidence in Nigeria’s digital economy. Together with Afro Mobile, we are building a resilient indigenous broadband platform that will create jobs, drive innovation and support inclusive national development.”
With operations commencing in Q3 2026, ISAT Group and Afro Mobile are poised to emerge as a leading indigenous broadband provider, delivering next-generation connectivity that will help bridge Nigeria’s digital divide and power the country’s next phase of economic growth.
Business
UBA Foundation Drives Environmental Awareness with Tree Planting in Lagos Schools for WED 2026
UBA Foundation tree planting initiative marks World Environment Day 2026 with sustainability drive across Lagos schools to promote climate action
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