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    Our objective is to bring Nigerians Affordable Housing.

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    NMRC has =N=13.19 Billion Tier 1 Capital

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    Annual General Meeting (AGM) 2022 Documents

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    July 4, 2022

    NMRC Hosts Team from Bank of Uganda

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    June 29, 2022

    Mr. Kehinde Ogundimu appointed AUHF chairman

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    NMRC Mortgage Digest 18th Edition: December 2021

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    NMRC Mortgage Digest 18th Edition: December 2021
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    NMRC Mortgage Digest 18th Edition: December 2021
    NMRC Mortgage Digest 17th Edition: October 2021

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    NMRC Mortgage Digest 16th Edition: April – June 2021

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    NMRC Mortgage Digest 16th Edition: April – June 2021

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    Annual percentage rate, or APR, is a way of measuring the full…
    • May 9, 2022 7:52 pm·

    Important Mortgage Terms to Know

    NMRC’s mortgage refinancing operations have enhanced access to affordable homeownership through the…
    • April 14, 2022 1:21 pm·

    Four Tips on Determining the House You Can Afford

    A simple way to understand a mortgage is that it enables you…
    • March 30, 2022 10:41 am·

    Top Five Reasons to Get a Mortgage Loan

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Our objectives is to bring Nigerians Affordable Housing

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Ownership Structure

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money-bag.svg
₦ 0 .19 billion

Tier 1 Capital

money-bag.svg
₦ 0 .34 billion

Tier 2 Capital

₦ 0 .5 billion

Units Authorised Share Capital

0

Investors

NMRC has =N=13.19 Billion Tier 1 Capital which is above the minimum capital requirement of =N=5 Billion as stipulated by the CBN. NMRC has 8,500,000,000 units of Authorised Shares.

NMRC has 27 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 twenty (20) 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.

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Nigeria Mortgage Refinance Company

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Lagos Office

17 Sanusi Fafunwa, Victoria Island, Lagos.
+234 908 762 8273

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BLOCKCHAIN-POWERED SYSTEM FOR RELIABLE LAND TITLING

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