The Ministry of Finance Incorporated (MOFI)Ministry of Finance Incorporated, Family Homes Funds Limited (FHFL)Family Homes Funds Ltd, and the & Resource Management Holding Company (ARM HoldCo). (ARM) have unveiled plans to ease mortgage terms for Federal civil servants in Nigeria under the MOFI Real Estate Investment Fund (MREIF).
ARM represents MREIF in the arrangement, being the designated Fund Managers.
This development follows extensive consultations with key stakeholders aimed at continuously improving the terms for accessing mortgages under the MOFI Real Estate Investment Fund (MREIF) for Federal Civil Servants.
The goal of this agreement is in full alignment with the central goal of MREIF, which is to expand access to housing for Nigerians on a mass scale through a credible and innovative financing model.
The agreement seeks to actualise key objectives, which include lowering the interest rate and equity contribution required from homebuyers, creating a framework to deliver mortgages at more affordable interest rates through blended finance solutions, and contributing to the One Million Homes Housing Project, a major component of the Renewed Hope Agenda.
Commenting on the partnership, MOFI’s CEO, Dr. Armstrong Takang, described it as a “strategic cost-management intervention” for civil servants and other beneficiaries within the band.
On his part, FHFL’s MD, Mr. Abdul Mutallab Mukhtar, stated that through the arrangement, Federal civil servants would finally “realise their dream of owning decent homes”.
ARM’s Deputy Managing Director, Wale Odutola, expressed ARM’s confidence in delivering an impactful financing solution through MREIF, which he described as “a credible vehicle for lasting impact”.
By bringing together public and private sector capital, MREIF aims to make affordable housing more accessible to Nigerians while supporting economic growth. With NGN250 billion already raised and mortgage finance disbursements made across three geopolitical zones, MREIF is a key driver of investment in long-term housing finance and reducing Nigeria’s housing deficit.
To begin your mortgage application with MREIF, visit mreif.com.ng
