Dr. Emmanuel Mbaka of Platinum Mortgage Bank Shines Light on Affordable Housing, Mortgage Access, and Faith-Driven Banking

In a recent episode of Spotlight on Catholic Television of Nigeria, Engr. Dr. Emmanuel Mbaka, Managing Director and CEO of Platinum Mortgage Bank Limited, spoke candidly about Nigeria’s mortgage landscape, affordable housing initiatives, and how his Catholic faith influences his leadership and philanthropy.

Broadcast directly from his office, the interview offered rare insights into the operations of one of Nigeria’s leading mortgage institutions. Dr. Mbaka, a devout Catholic and Knight of St. Mulumba, emphasized that the major challenge in Nigeria’s mortgage sector is not poverty or trust, but lack of awareness.

“Most Nigerians still don’t know they can access a mortgage or own a home through structured financing,” he said. “Our FastTrack Mortgage product offers housing within 48 hours of meeting eligibility, and we’ve helped over 20,000 Nigerians become homeowners.”

Pushing Boundaries with Affordable Housing

Dr. Mbaka highlighted Platinum Mortgage Bank’s focus on social and mass housing, in contrast to luxury properties that dominate the Abuja skyline but remain vacant due to affordability issues. The bank partners with government agencies to reduce housing costs through subsidies on land and infrastructure.

“Our homes are designed for low and middle-income earners. With a 20–30% equity contribution and proof of income, clients can access mortgage loans between ₦50–80 million, repayable over 20 to 30 years,” he explained.

The bank categorizes its offerings into low, middle, and high-density developments, with a keen focus on inclusivity and social responsibility.

Faith, Philanthropy, and Financial Inclusion

When asked how Catholic social teachings shape his business decisions, Dr. Mbaka was reflective.

“The principle of the common good drives everything we do. We’ve chosen to remain in the mortgage sub-sector to serve the poor and revive Nigeria’s disappearing middle class,” he said.

While many mortgage institutions have transitioned into more profitable regional banking, Platinum Mortgage Bank continues to operate in the less lucrative housing finance space, aligning its mission with its values. “We balance profit with purpose. Humanity first, always,” Dr. Mbaka noted.

Catholic Church Collaborations and Legacy

Dr. Mbaka also shared his long-standing relationship with the Catholic Secretariat of Nigeria, including his instrumental role in the development of Veritas University.

“From drilling the first borehole to fencing and constructing buildings, our contribution to Veritas University is a legacy of faith and commitment to education,” he said.

He also mentioned the bank’s support in addressing accommodation challenges faced by bishops during plenary gatherings in Abuja, further reinforcing Platinum Mortgage Bank’s commitment to faith-based development.

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A Vision Rooted in Impact

Dr. Emmanuel Mbaka’s vision for Platinum Mortgage Bank is clear: to democratize home ownership in Nigeria through innovative, accessible, and faith-driven solutions. His leadership exemplifies the powerful intersection of enterprise, social impact, and spirituality.

“Our aim is not just to finance homes,” he concluded, “but to build communities, restore dignity, and offer people a future they can own—literally.”