Unlocking Affordable Housing: Wale Edun Leads Talks on Launch Of Mortgage Finance Fund

In a significant stride towards making home ownership a reality for millions of Nigerians, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has today in his office in Abuja, convened a high-level meeting to discuss the launch of the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF). This innovative initiative aims to provide low-cost mortgage financing options for eligible Nigerians, marking a major milestone in the One Million Homes Presidential Initiative.

In his opening remarks, the Honourable Minister emphasized the potential of the fund to provide cost-effective mortgage options for a large segment of pension account holders. He underscored the significance of the meeting as an opportunity for open dialogue, enabling key stakeholders to exchange ideas and contribute to the initiative’s success.

Dr. Armstrong UME Takang, CEO of the Ministry of Finance Incorporated (MOFI), further elaborated on the initiative, noting that the MREIF is designed to be market-driven while adhering to all regulatory standards.

The meeting brought together prominent leaders from the pension and financial sectors, including:

1.Dr. Oluwatoyin Maiden, Accountant General of the Federation
2.Wale Odutola, ARM Pensions
3.Funmi Ekundayo, CEO, STC Trustees
4.Sani Yakubu, Co-Coordinator, MREIF
5.Temitayo Ajayi, Vetiva Advisory
6.Saadu Jijji, MD, PAL Pensions
7.Tony Odutola, DCIO, FCMB Pensions LTD
8.Nuhu Modibbo, Executive Director, Access Pensions
9.Victor Bisong, MD/CEO, Trustfund
10.Emmanuel Thomas, Executive Director, NUPEMCO
11.Oluwakemi Ugwu, MD/CEO, NUPEMCO and
12.Christopher Bajowa, MD/CEO, Access Pensions

As the Mortgage Finance Fund takes shape, the Honourable Minister’s leadership and commitment to ensuring the realization of the Presidential initiatives on
affordable housing for eligible Nigerians
have set the stage for a transformative impact on Nigeria’s housing market especially with the alignment of key stakeholders and a clear vision in place, the MREIF is poised to unlock unprecedented opportunities for Nigerians to own their homes.

Thus, as the initiative moves forward, the Ministry of Finance remains dedicated to ensuring its success, paving the way for a brighter future for generations to come.

Signed
Mohammed Manga, FCAI
Director, Information and Public Relations
September 10, 2024