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JAN

2013

Incorporation of NMRC

CBN issues regulatory framework for NMRC Constitution of NMRC’s Board Negotiation of $250million World Bank –International Development Agency (IDA) Loan 1st equity issuance of N7.7bn

JAN

2014

Official Launch of NMRC

Received the 1st tranche of World Bank IDA loan Published the Uniform Underwriting Standard

JAN

2015

Executed the FGN Guarantee Agreement

Obtained final operational license from CBN Received 2nd Tranche of World Bank Loan Successfully Issued N8bn 15-year NMRC Bond Commenced refinancing of mortgages

JAN

2016

Designed a fully customized internet-based Mortgage Market System.

JAN

2017

Signed MOUs with several states on the Mortgage Administration Law (MAL), formerly Model Mortgage and Foreclosure Law (MMFL)

The first MMFL was passed (in Kaduna State) 2nd equity issuance of N0.94bn

JAN

2018

Successfully issued an N11bn 15-year NMRC bond

Received the 3rd tranche of World Bank –IDA loan. Launched Uniform Underwriting Standard (UUS) for the informal sector 2nd equity issuance of N0.94bn

JAN

2020

Successfully issued a N10bn 7-year NMRC Bond Received CBN approval to refinance non-member banks

JAN

2022

Received CBN approval to increase mortgage refinancing limit to N200million from N50million

JAN

2024

Secured a development assistance loan of $200mn from US Development Finance Corporation