Who we are

We are pleased to introduce Refuge Mortgage Bank Ltd, a specialized banking organization. Our business focus includes banking, mortgage, projects and financial advisory services.

RefugeMortgage Bank Ltd is one of the foremost mortgage banks in Nigeria having been in operation since 1993. The bank was acquired by new core investors in 2005 and re-positioned to change the landscape of mortgage banking in Africa. At present, Refuge Mortgage Bank Ltd authorized share capital is N4 Billion with N2.6 Billion fully paid up and allotted.

In line with the Bank’s vision, operators of Primary Mortgage Institutions (PMI’s) in the country have initiated moves for the standardisation of mortgage documentation in order to achieve global and uniform underwriting standards. Furthermore, plans are underway to create a Mortgage Liquidity Facility (MLF)/Special Purpose Vehicle (SPV) which would provide access to long term funds (refinancing/re-discounting) from the Capital Markets, that would enable PMIs extend mortgage financing, thereby increasing affordability and availability of Mortgages and ultimately enhancing home ownership for as many Nigerians as possible, through Mortgage Arrangements.

Our mission is to deliver affordable, quality and economical properties to our customers on a regular basis through a well thought-out funding arrangement. We provide integrated solutions to a home ownership by helping our customers from the conception to completion of the desired property. We have the expertise to understand the intricacies and structural challenge of developing and effectively delivering residential, commercial and social properties.

Our aim is to provide integrated financial solutions to our customers in the area of mortgage, consumer banking, small business assistance and personal wealth management. Our services include the development of housing estates, provision of mortgage for affordable housing, provision of working capital to small and growing businesses and investment management services.


Refuge Mortgage Bank Limited was incorporated in 1992 as a Private Limited Liability Company and licensed by the Central Bank of Nigeria to carry on Mortgage Banking activities. Refuge commenced operations in 1993. In 2005, it was acquired by a new core investor who injected fresh capital into the bank. The bank is well capitalized beyond the mandatory level of the CBN.

Furthermore, the bank is registered with the Federal Mortgage Bank of Nigeria Limited as an accredited vehicle for the disbursement of the National Housing Funds- a scheme birthed from the NHF Decree No. 32 which was set for the primary purpose of achieving the ultimate goal of ensuring that all Nigerians own or have access to decent housing accommodation at affordable cost. This concept is to ensure continuous flow of long term fund for housing development and to provide affordable loans for income housing.