MREIF disburses over N140bn in mortgages to 2,000 Nigerians across 27 states
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The MOFI Real Estate Investment Fund has disbursed more than N140 billion in mortgage loans to over 2,000 Nigerians across 27 states since its mortgage operations began in April 2025, according to ARM Investment Managers.
The MOFI Real Estate Investment Fund (MREIF) has disbursed more than N140 billion in mortgage loans to over 2,000 Nigerians across 27 states since commencing its mortgage operations in April 2025, LEADERSHIP reports.
Olubiyi Adekunbi, Head of Real Estate Investment at ARM Investment Managers, disclosed the figures during a FirstBank webinar on pathways to home ownership and the use of mortgage finance to build long-term household wealth.
Adekunbi said beneficiaries of the MREIF mortgage programme are spread across Nigeria's six geopolitical zones, with Lagos and Abuja accounting for the largest share of applications. The programme has also extended financing to qualifying properties in states including Ogun, Oyo, Enugu, Kano and Kaduna.
He said the fastest mortgage transaction completed under the programme took less than three weeks, although applicants must provide the necessary documentation and undergo due diligence before approval.
The milestone marks a significant expansion of formal mortgage financing in Nigeria, where high lending costs, limited access to long-term credit and an inadequate housing supply have continued to constrain home ownership.