According to the apex bank’s audited financial statement, in 2022 the Central Bank of Nigeria (CBN) disbursed loans and advances of N37.6 billion to mortgage banks.
The Federal Mortgage Bank of Nigeria and the Nigerian Mortgage Refinance Company are two mortgage banks that have received loans from the CBN.
A public-private refinance mortgage firm named NMRC borrowed N37 billion, according to the borrowings contained in the report’s loans and receivables section.
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The money that a business lent and is anticipated to be reimbursed within a year is referred to as loans and receivables, according to ycharts.com.
The report also showed that N9m was advanced to the FMBN.
At the same time, N16m was disbursed as subordinated loan to mortgage finance banks under the Nigeria Housing Finance Programme making a total of N37.6bn.
Although the bank didnāt specify if the loan had been paid back, further analysis also showed that the same amount was lent to the banks in 2021.
The apex bank recently released its Consolidated Financial Statements for the last seven years, making it the first time since 2015 that the apex bank would be making its book available for public scrutiny.
The CBN declared a profit after tax of N103.8bn in 2022, up from N75.13bn reported a year earlier.
Also, the CBN owed J.P. Morgan and Goldman Sachs a combined sum of $7.5bn as of December 2022.
It also had another $6.3bn forex obligations to foreign investors.
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