Nigeria: NMRC and Task of Mortgage Refinancing

The Nigeria Mortgage Refinancing Company (NMRC), a special mortgage refinancing vehicle, officially launched by President Good luck Jonathan in January, is a private sector driven company with the purpose of developing the primary and secondary mortgage markets by raising long-term funds from the capital markets as well as foreign markets, and provide accessible and affordable housing in the country. Our Correspondent, Bamidele Ogunwusi examines issues surrounding mortgage financing.

After waiting for many years without a secondary mortgage institution that can do the business of mortgage refinancing, the Federal Government in 2013 established the Nigeria Mortgage Refinance Company Plc in response to the housing needs of the masses.

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