Our objectives is to bring Nigerians Affordable Housing
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Ownership Structure
₦
0
.92 billion
Tier 1 Capital
₦
0
.10 billion
Tier 2 Capital
₦
0
.12 billion
Issued Share Capital
0
Investors
NMRC has =N=20.92 Billion Tier 1 Capital which is above the minmum capital requirement of =N=5 Billion as stipulated by the Central Bank of Nigeria (CBN)
NMRC has 26 investors with the Ministry of Finance Incorporated (MoFI) and the Nigerian Sovereign Investment Authority (NSIA) holding 15.68% and 20.91% respectively.
Five (5) Commercial Banks (CBs) and nineteen (19) Primary Mortgage Banks (PMBs) represent 11.11% and 52.30% respectively of the paid-up shares of NMRC.
The mix of investor groups is chosen to ensure the success of NMRC, as each group brings a unique value to the institution.
NMRC will from time to time raise additional Tier 1 capital
to meet regulatory requirement for expanding business scale.
The Company’s Tier 2 Capital includes a Subordinated Loan of US$ 168.13 Million which is a World Bank International Development Agency Loan to the Federal Republic of Nigeria for funding of the Housing Finance Programme. The role of the IDA loan is two fold:
- (i) To strengthen the balance sheet; and
- (ii) To ensure sustainability of the model as it will provide confidence in the credit standing of NMRC as a bond issuing entity.
RESULTS AT A GLANCE
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