Tag Archives: NMRC

The Nigerian Stock Exchange (NSE) over the weekend listed an N8 billion Nigeria Mortgage Refinance Company (NMRC) bond on its platform. According to the NSE, the NMRC’s N8 billion listed on the exchange carry a 14.9 per cent fixed rate bond will be due in 2030 under the N140 billion medium term note programme. It has been gathered that the ...

Investors interested in the ordinary shares of Nigeria Mortgage Refinance Company (NMRC) Plc now have opportunity to buy into Nigeria’s first and only mortgage refinancing company with the listing of the company on the NASD OTC Plc. The NASD is an over-the-counter (OTC) platform that trades on unlisted securities. It is licensed by Securities and Exchange Commission (SEC). The NASD ...

Against the backdrop of the widening housing deficit in the country the need for governments at the federal and state level to see the issue of housing as an urgent matter of concern and priority cannot be over stressed. Just last week, the immediate past Governor of Lagos state, Babatunde Raji Fashola (SAN) among other appointed Minsters, was assigned the ...

Hope rises for low rate housing loan as NMRC refinances mortgage pushes for model mortgage, foreclosure law adoption The Nigeria Mortgage Refinance Company (NMRC), the private sector-led secondary mortgage institution in Nigeria, has raised hope for low interest rate on housing loan as it commits to its mandate of refinancing mortgages created by the primary mortgage banks (PMBs) in the ...

The Primary Mortgage Banks that are shareholders of the Nigeria Mortgage Refinance Company (NMRC) have approved an increase of its share capital from N1 million to N18 billion. Also, the chairman of the company and its chief Executive Officer, appraised the company’s performance at its 1st Annual General Meeting, which held in Lagos, recently, reports Bennett Oghifo Business at the ...

Nigeria Mortgage Refinance Company (NMRC) will seek approval from members by month-end to raise additional equity capital of 28.5 billion naira ($143 million) through a shelf registration programme, the state-backed mortgage agency said on Monday. NMRC set a price range of 4.50 to 7 naira per share for the first tranche of equity to be raised under the programme worth ...

Housing is one of man’s key needs. Most people would like to own their own houses. Unfortunately, there are far too many obstacles stifling the achievement of this dream of owning their own homes. In spite of Nigeria being Africa’s largest economy with a GDP of $510 billion, the housing and construction sector accounts for only 3.1% of the rebased ...

History of some sort will be made this month, following plans by the Nigerian Mortgage Refinancing Company (NMRC) to provide its first tranche of refinancing for existing mortgage loans in the market, totaling about N10 billion, which will deepen affordable housing processes, especially for first time buyers. The new deal is coming as part of the bargain by NMRC to ...

Despite the current economic difficulties occasioned by a significant drop in oil revenue, foreign investment inflows into the country recorded fresh impetus on Tuesday when Cantor Fitzgerald, a highly regarded investment company based in the United States of America, signed a memorandum of understanding with the Nigeria Mortgage Refinance Company (NMRC) for $1 billion (about N200 billion) in mortgages in ...

Expectations are high that Nigeria’s mortgage market which has, for too long, suffered slow growth, will experience a boom when the Nigerian Mortgage Refinance Company (NMRC), a private sector-led secondary mortgage market, starts refinancing more mortgages. The company, which launched 10,000 mortgages last year with an initial target of creating 200,000 mortgages, disclosed recently its plan to refinance one million ...