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NMRC disburses N6b for on lending

NMRC disburses N6b for on lending

The Nigerian Mortgage Refinancing Company (NMRC) has disbursed N6 billion to primary mortgage institutions (PMIs) for mortgage on-lending to Nigerians since last year.

The amount is part of the N8 billion proceeds earlier raised from the capital market for mortgage refinancing in the country. Already, some 1400 applicants comprising 700 refinancing loans and another 700 new mortgages deal have pulled through, according to the NMRC Managing Director and Chief Executive Officer, Prof. Charles Inyangete.

He also stated in Abuja that the firm has signed a memorandum of understanding (MoU) with the National Bureau of Statistics (NBS) on the generation of a reliable and dependable housing data in Nigeria to assist the NMRC understand the housing needs of the country as well as the desirable components and location. Read more

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