PHL was granted mortgage license to operate as a PMI on 30th June 2007 by the Central Bank of Nigeria (CBN), having been incorporated under the Laws of the Federal Republic of Nigeria by the Corporate Affairs Commission as a private company limited by shares on 21st October 2005. It is wholly owned by the Nigerian Army with a fully paid up share capital of N100,000,000.Post-Service Homes (Savings & Loans) Limited (PHL) was established as a Primary Mortgage Institution (PMI) to provide housing loans for personnel of the NA in particular as well as the general public.