July 25th, 2019, 11:00 am, Federal Capital Territory, Abuja Nigeria.
In partnership with the African Union for Housing Finance (AUHF), the Nigeria Mortgage Refinance Company Plc (“NMRC”) held a stakeholder breakfast session to promote advocacy in affordable housing finance. Many industry representatives from the Mortgage Banking Association attended the session, led by Mr.
Adeniyi Akinlusi who spoke on the progress and initiatives that are currently being driven in partnership with NMRC, Central Bank of Nigeria, Financial System Strategy 2020 (FSS 2020) and other stakeholders to promote housing development and mortgage growth. These initiatives include the Model Foreclosure mechanism and various mortgage underwriting standards for the informal sector as well as mortgage literacy programmes.
A Memorandum of Understanding (MoU) was signed between NMRC and CAHF, secretariat to the AUHF, to deepen and increase the knowledge and understanding of the housing finance markets in Africa, specifically Nigeria. According to CAHF’s Executive Director Kecia Rust, the collaboration will center on knowledge derived from country-level data on the housing finance sector in Africa and Nigeria. Increased quality and availability of data will advance public and private initiatives to increase access to housing finance, especially to the lower-and middle-income housing market, as well as improve the functioning of the Nigerian housing market.