CBN Social Housing Programme – Application Ongoing

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CBN Social Housing Programme – Application Ongoing: The Central Bank of Nigeria (CBN) made an announcement for a financing initiative to support the Federal Government’s Economic Sustainability programme, the bank plans to fund the Social Housing programme to the tune of N200BN.

CBN through the Family Homes Funds (FHFL) has a plan of  putting 500,000 families in homes by the year 2024 and in the process, create 1,500,000 jobs for citizens in Nigeria.


The vision of CBN through the Family Homes Funds Limited (FHFL) plans to use housing to improve the living standards of Nigerians citizens on low income by building quality homes, providing home ownership financing solutions and creating jobs through the process.


The mission of CBN through the Family Homes Fund Limited is to commit their capital, a skilled and passionate team, and work with partners to drive initiatives that provide lasting solutions for the provision of home ownerships for Nigerians on low income.

Advertisements – Guidelines for Making a Request for Loan Assistance.


Eligible Projects:

FHFL will only finance social housing projects which meet set out eligibility criteria, particularly in relation to target beneficiaries, costs, environmental


and social impact and risk rating;

Eligible Entities:

FHFL may only provide loan to registered corporate entities (public or private) whose Memorandum and Article of Association permit it to carry out house-building business and who meet FHFL’s eligibility criteria.


FHFL seeks to complete projects in every state of the federation.


FHFL financing decision will be made within the context of a partnership with the developers. This implies recognition and commitment to the goals and objective of the Fund particularly our focus on housing people on low income and job creation;


FHFL will only support projects which are financially viable. Projects must reasonably demonstrate that receipts from the project will be sufficient to pay any loans advanced by FHFL.

See: 2021 CBN Manara Loan – Application Ongoing – Apply Here

Eligible borrowers will be in 2 categories:

1) Public Sector Borrower – defined as:

  • The Federal Government, any of the 36 State

Governments and the Federal Capital Territory of the Republic of Nigeria;

  • An appropriate agency of the Federal Government, any of the 36 State Governments and the Federal Capital Territory of the Republic of Nigeria;
  • Co-Operatives and or associations representing public sector workers except where its operations and decision making are entirely independent.

2) Private Sector Borrower – defined as any other entity incorporated in the Federal Republic of Nigeria including corporations, developers, non-governmental organisations, joint venture

partnerships etc;


All borrowers will be required to meet the following eligibility requirements:

  • Be registered with the Corporate Affairs Commission to carry out housing development and related business or in the case of public sector borrowers, possess appropriate authorization and or approval to enter into a loan agreement. This may be legislative approvals, specific executive authority/decisions or indicated in relevant instruments;
  • Have previous experience of or demonstrate capacity required to execute a housing development project of nature and scale being contemplated;
  • Have and show proof of own financial capacity to meet project costs not covered by FHFL financing particularly pre-development, pre-sale and statutory approval costs;
  • Have project land which meets FHFL Site Selection Criteria and is transferrable to FHFL simultaneously on completion of a Loan Agreement;
  • Where necessary, have evidence of compliance with relevant statutory requirements including tax returns;
  • Meet FHFL Know your Customer (KYC) requirements.

FHFL Project Eligibility and Requirements.

Project Eligibility

To be eligible for financing by FHFL, project proposals must meet the following requirements:

  • Project Beneficiaries/Target

Beneficiaries of the project or aspects of it requiring FHFL financing must be predominantly on low to medium income. FHFL will publish Target Cost Indicators (TCIs) periodically to provide guidance. FHFL will generally not provide financial support for projects exceeding current Target Cost Indicators.

  • Project Scope

Project Proposals must be for a minimum of 250 homes including all necessary service infrastructure and social amenities required for a sustainable community, including but not limited to roads, electricity, water.

  • Project Site

The project site must comply with FHFL’s site selection criteria, evidence of detailed site assessment by suitably qualified professional should be provided.

Project Proposals should provide evidence of legal ownership and/or control of the project site including willingness to transfer same to FHFL as collateral for its financing;

Evidence that the project site has received or is eligible to receive planning and other statutory approvals for the type of project proposed should be provided;


Projects must comply with FHFL Project development Standards as published and or revised from time to time except where waivers are obtained in writing. FHFL Independent Project Managers will certify compliance. A copy of the Standards is available on our website.


Projects must comply with FHFL’s Social and Environmental Management Policy as published from time to time. Specifically, and for emphasis, all projects funded by FHFL shall:

Comply with relevant statutory requirements and achieve prior to disbursement of any funds, written approval by the relevant authorities;

Ensure the safety of workers involved in the construction works including but not limited to provision of protective clothing, safety equipment and gadgets, sanitation facilities, appropriate insurance etc;

Comply with local labour laws and ensure that no worker employed receives below the minimum wage as prescribed from time to time by the Government of Nigeria and child labour is not employed under any circumstances;

Promote equal opportunities for all, irrespective of gender, race or other considerations with regard to employment of workers and sale/lease of completed homes;

Exclude land that has been expropriated without compensation or where there has been forceful eviction;

Demonstrate potential to create jobs and demonstrate preference for locally manufactured inputs.


a) Only the following project costs will be eligible for financing from FHFL:

  • Building Construction works
  • Associated Infrastructure including Estate Roads, Water, Sewage and Power.

b) FHFL will not generally provide finance for:

  • Third party land acquisition and associated costs.
  • Third party professional Fees


Eligible projects should provide information on financial viability.


Eligible project proposals must provide confirmed exit strategies. For housing projects for sale, proposals must pre-identify target purchasers, proof of eligibility, home financing undertakings and proof of affordability.


FHFL lending is generally disposed to projects (or agreed phases) which can be exited (start to completion of last unit sale) within a maximum of 36months.

Steps to apply for CBN Social Housing Loan

Step 1: Go to the CBN N200 Billion Social Housing Registration Portal via, then Complete the Online form and upload supporting documents.

Step 2: If project meets FHFL’s initial requirements, sponsor will be required to

submit additional information.

Step 3: Further due diligence carried out including site evaluation. Sponsor required to pay appraisal fee.

Step 4: Feedback.

List of Supporting Documents to Apply for CBN Social Housing Loan

Copy of Title Documentation

Preliminary drawing

Preliminary development cost (funding requirement summary)

Development agreement (where applicable)

Company Profile detailing;

Proposed marketing strategy with necessary evidence

List of directors and beneficial owners

Company registration details

Records of experience of executing similar projects, personnel etc

Tax information

Evidence of Statutory contribution (Pension, ITF, etc)