Procedures for revising or updating the constitution to reflect industry growth and emerging realities.
About
MBAN Constitution
The Constitution of the Mortgage Banking Association of Nigeria (MBAN) serves as the foundation for the Association’s existence, governance, and operations. It defines the purpose of MBAN, the structure of its leadership, the rights and obligations of its members, and the ethical and professional standards expected across the mortgage banking industry.
It is designed to ensure that MBAN functions in a transparent, credible, and impactful way while advancing the goals of the Nigerian mortgage sub-sector and contributing to national housing development.
Key Elements of the MBAN Constitution
Key factors to consider before committing to MBAN Constitution
Preamble
The Constitution begins by establishing the vision and mission of MBAN – to foster the growth of mortgage banking, encourage sustainable homeownership, and uphold professional standards across the industry.
Member Support
It outlines the criteria for membership, categories of members (e.g., corporate, associate, honorary), as well as the rights and responsibilities of each member. This ensures that all stakeholders actively contribute to the sector’s growth.
Governance
The Constitution provides for the establishment of a Governing Council, Executive Committees, and leadership roles such as the President, Vice Presidents, Secretary, and Treasurer. It defines their powers, responsibilities, and tenure of office.
Ethics and Conduct
To maintain credibility, the Constitution enforces a code of ethics. Members are expected to adhere to professional standards, fair practices, transparency, and compliance with national and global regulations.
Finance
It specifies how the Association raises funds—through membership dues, levies, sponsorships, and other legitimate sources. It also details how funds are to be managed with accountability and transparency.
Amendments
The Constitution allows for amendments to reflect new realities in the mortgage banking industry. Such amendments require approval through established processes, ensuring inclusivity in shaping the Association’s future.
Governance
The Constitution provides for the establishment of a Governing Council, Executive Committees, and leadership roles such as the President, Vice Presidents, Secretary, and Treasurer. It defines their powers, responsibilities, and tenure of office.
Meetings and Decision-Making
The Constitution sets rules for the Annual General Meetings (AGM), Extraordinary Meetings, and council meetings, including voting procedures and decision-making processes.
Why the MBAN Constitution Matters
Key factors to consider before committing to a mortgage plan.
- Clarity & Order: It ensures everyone understands their roles and responsibilities.
- Accountability: Provides checks and balances for leadership and members.
- Sustainability: Creates a framework for long-term growth and adaptability.
- Credibility: Builds trust among stakeholders, regulators, and the public.
- Progress: Aligns the industry with global best practices while addressing Nigeria’s unique housing challenges.
Need a Mortgage?
Get started by contacting any of our licensed Mortgage Banks or explore options through a broker.
Tip: You can also access low-interest loans via the NHF Scheme.
