ITMB Secures ₦5 Billion for Affordable Housing, Adding to Recent Sector Funding Trends

Infinity Trust Mortgage Bank (ITMB) has secured a ₦5 billion loan to support affordable housing in Nigeria. The funding comes from a government-supported real estate fund managed by ARM Investment Managers and is part of a wider plan to make homeownership easier for Nigerians with low or moderate incomes.

With this new funding, ITMB will be able to offer more flexible mortgage options. These include lower interest rates, longer repayment periods, and simpler processes for people who usually find it hard to qualify for home loans—especially first-time buyers. The goal is to give more Nigerians the chance to own a home and reduce the country's huge housing shortage.

This initiative is connected to the current administration's Renewed Hope Agenda, which is focused on helping more people access safe and affordable housing. Nigeria has a shortage of over 17 million homes, and this funding is seen as one way to begin closing that gap.

ITMB has been in the mortgage industry for over 20 years and has helped many Nigerians buy homes through flexible financing. This ₦5 billion boost strengthens their ability to support more families and also sets an example for other mortgage banks to follow.

This move could also inspire more developers and financial institutions to get involved in affordable housing projects. By increasing the number of homes and making loans easier to access, the hope is that more Nigerians will be able to stop renting and finally own a place they can call home.