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ARTICLE · 06 JANUARY 2026

Mortgage Transactions In Nigeria: Borrower And Lender Rights Explained

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A mortgage is a conveyance or lien over a property for the security of the repayment of a loan facility, which is discharged after the liquidation of the loan facility.

NigeriaFinance and Banking
Adeife Omolumo
Adeife Omolumo
Kareema Mohammed
Kareema Mohammed
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A mortgage is a conveyance or lien over a property for the security of the repayment of a loan facility, which is discharged after the liquidation of the loan facility. It should be noted that there is always a provision for redemption on repayment of the loan or discharge of such other obligation.1

Mortgage transactions in Nigeria are a key means of securing credit, allowing borrowers to access funds while protecting lenders through security over property. The legal framework, guided by laws such as the Land Use Act 1978, the Property and Conveyancing Law, and judicial precedents, defines the rights and obligations of both parties.

Understanding these rights is essential, as disputes often arise around consent, title perfection, and enforcement.

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