Day: April 23, 2026

MREIF is Better: FirstBank’s Mortgage Loan Is the Game-Changer for Home Ownership in Nigeria

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Anyone who has tried to get a loan to buy a house in Nigeria knows the drill: endless forms, property valuation, and eventual down payment of a minimum 25% or more on the property. Sometimes, interest rates could go as high as 30% per annum, while the typical loan limit is N50 million. Now, FirstBank is making homeownership more attractive. FirstBank, in partnership with the Ministry of Finance Incorporated (MOFI), has introduced the MREIF Home Loan. MREIF loan is a game-changer, offering a single-digit interest rate of 9.75% per annum,…

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How Titan Trust Bank Allegedly Used Union Bank Assets to Secure $300 Million Acquisition Deal

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What was sold to Nigerians in May 2022 as a clean and powerful takeover is now looking like something far more troubling. When Titan Trust Bank announced it had acquired Union Bank of Nigeria, a 100+ year-old institution, the story was simple: a young bank buying a legacy giant. But fresh documents are now pointing to a shocking twist that raises serious questions about how the deal was actually done. According to findings, Titan Trust Bank allegedly secured a $300 million loan from African Export-Import Bank (Afreximbank) to fund the…

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