Notice Of Extraordinary General Meeting

The Unitholders of the Ministry of Finance Real Estate Investment Fund (“MREIF”) are hereby notified that ARM Investment Managers Limited (the “Fund Manager”) wishes to convene a meeting of the Unitholders (the “Meeting”).

Notice is hereby given that the Meeting will be held at 11:00 a.m. on Friday, March 13, 2026, at No. 1 Mekunwen Road, off Oyinkan Abayomi Drive, Ikoyi, Lagos. This publication shall constitute due notice of the Meeting to all Unitholders of MREIF as of the date of this publication.

It is proposed that special resolutions be passed in relation to the amendment of the MREIF Programme Trust Deed, to address the provisions on incentive fees, fees and expenses, the constitution of the Advisory Board, and the meetings of the Advisory Board

The proposed 1st Supplemental Trust Deed of MREIF is available for inspection at the registered office of ARM Investment Managers Limited, located at No. 1 Mekunwen Road, off Oyinkan Abayomi Drive, Ikoyi, Lagos, during normal business hours from the date of this notice until the date of the Meeting.

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Buy Your Dream Home: MREIF Introduces Lower Interest Rates for Nigerians

LAGOS, NIGERIA — The Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), a key driver of affordable homeownership in Nigeria has announced a major reduction in its mortgage requirements. The interest rate has now been reduced from a fixed rate of 12% per annum to 9.75% per annum.

The revised terms for the fund scheme, managed by ARM Investment Managers, is designed to address the financial constraints faced by many aspiring homeowners. By significantly lowering the entry barrier, MREIF and its group of financial partners are fostering a more inclusive and accessible housing market.

Commenting on the development, Mr. Wale Odutola, the Group CEO of ARM, stated, “Our role as fund managers is to ensure MREIF operates as a credible vehicle for lasting impact. The reduction in the down payment, alongside the competitive interest rate, is a strategic move to empower more Nigerians. This is a testament to the power of a public-private partnership that is genuinely focused on delivering tangible solutions and contributing meaningfully to Nigeria’s economic progress.”

The new terms are expected to accelerate the transition from renting to owning, providing financial stability and long-term security for countless Nigerian families.

It is important to note that the downpayment for the selected property can also be funded from the pension accounts (RSA) of willing beneficiaries, further reducing all barriers to participation in the scheme.

To learn more about this groundbreaking scheme, visit: https://www.arm.com.ng/mreif-about-mreif/

MREIF Cuts Down Payment to 10% and Lowers Mortgage Rates for Nigerians

MREIF-Cuts-Down-Payment-to-10%

LAGOS, NIGERIA — The Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF) has unveiled new mortgage terms designed to make homeownership more attainable for millions of Nigerians. In a landmark move, the minimum down payment has been reduced from 20% to just 10%, while the fixed mortgage interest rate has been lowered from 12% per annum to 9.75% per annum.

This policy shift, part of the Federal Government’s Renewed Hope agenda, tackles one of the biggest barriers to homeownership — the high initial equity contribution. With this change, more Nigerians can move from renting to owning their own homes.

The revised terms apply to MREIF’s long-term mortgages with repayment periods of up to 20 years, combining lower upfront costs, reduced interest rates, and extended tenure to ease the financial burden on households.

Dr. Armstrong Takang, CEO of MOFI, stated:
“These new terms reflect our mission to build a sustainable and inclusive housing market. By reducing the down payment and maintaining a low interest rate, we are removing major barriers to homeownership and creating a pathway to a brighter, more secure future for families across Nigeria.”

Wale Odutola, Group CEO of ARM, fund managers for MREIF, added:
“Our role as fund managers is to ensure MREIF operates as a credible vehicle for lasting impact. The reduction in the down payment, alongside the competitive interest rate, is a strategic move to empower more Nigerians. This is a testament to the power of a public-private partnership that is genuinely focused on delivering tangible solutions and contributing meaningfully to Nigeria’s economic progress.”

Beneficiaries can also use funds from their Retirement Savings Account (RSA) to cover the down payment, further reducing entry barriers.

Learn more at: https://www.arm.com.ng/mreif-about-mreif/

MOFI, Family Homes Funds, MREIF Unveil Plan To Ease Mortgage Terms For Federal Civil Servants

The Ministry of Finance Incorporated (MOFI), Family Homes Funds Limited (FHFL), and the Asset & Resource Management Holding Company Limited (ARM) have unveiled plans to ease mortgage terms for Federal civil servants in Nigeria under the MOFI Real Estate Investment Fund (MREIF).

ARM represents MREIF in the arrangement, being the designated Fund Managers.

This development follows extensive consultations with key stakeholders aimed at continuously improving the terms for accessing mortgages under the MOFI Real Estate Investment Fund (MREIF) for Federal Civil Servants.

The goal of this agreement is in full alignment with the central goal of MREIF, which is to expand access to housing for Nigerians on a mass scale through a credible and innovative financing model. 

Expanding Access by Lowering Interest Rate, Equity Contribution

The agreement seeks to actualise key objectives, which include lowering the interest rate and equity contribution required from homebuyers, creating a framework to deliver mortgages at more affordable interest rates through blended finance solutions, and contributing to the One Million Homes Housing Project, a major component of the Renewed Hope Agenda.

A Result-Driven Partnership

The structure of this formal collaboration features MOFI, FHFL, and MREIF.

To address the equity contribution barrier, both MREIF and FHFL will jointly provide significant portions of the required mortgage funding, leaving homebuyers with a convenient equity contribution of only 10%. Additionally, this arrangement reduces the interest rate for civil servants to a single digit.

The interest rate reduction strategy includes blending funding sources with varying cost of capital, allowing loans to be delivered at significantly reduced interest rates. FHFL’s access to a funding line from the African Development Bank (AfDB) will play a vital cost-lowering role here.

As a mortgage scheme, a well-structured loan distribution and management plan has been proposed, which will feature engagement of Partner Mortgage Lenders to grant the mortgage loans, with all loans made to comply with the Nigeria Mortgage Refinance Company (NMRC)’s underwriting standards.

Towards Lasting Impact

Commenting on the partnership, MOFI’s CEO, Dr. Armstrong Takang, described it as a “strategic cost-management intervention” for civil servants and other beneficiaries within the band.

On his part, FHFL’s MD, Mr. Abdul Mutallab Mukhtar, stated that through the arrangement, Federal civil servants would finally “realise their dream of owning decent homes”.

ARM’s Deputy Managing Director, Wale Odutola, expressed ARM’s confidence in delivering an impactful financing solution through MREIF, which he described as “a credible vehicle for lasting impact”.

About MREIF

The MOFI Real Estate Investment Fund (MREIF) is a Securities and Exchange Commission (SEC)-approved and regulated fund designed to expand homeownership and strengthen Nigeria’s housing sector. With an AAA rating from Agusto and an AA rating from GCR, MREIF has established itself as a highly credible, market-driven investment platform to address Nigeria’s housing finance gap.

By bringing together public and private sector capital, MREIF aims to make affordable housing more accessible to Nigerians while supporting economic growth. With NGN250 billion already raised and over 100 mortgage finance disbursements made across three geopolitical zones, MREIF is a key driver of investment in long-term housing finance and reducing Nigeria’s housing deficit.

To begin your mortgage application with MREIF, call 02013305005, visit mreif.com.ng, or email [email protected].

MOFI Real Estate Investment Fund (MREIF) Receives Triple A Rating from Agusto & Co for its ₦100 billion Series 2 (“Commercial Issuance”) Issuance under the ₦1 trillion Program

Lagos, February 2025 – ARM Investment Managers Limited (the Fund Manager) is pleased to announce that the Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF) has been granted a AAA rating, the highest possible rating by Agusto & Co, a leading rating agency. This prestigious rating is a testament to MREIF’s Sponsor’s support, robust risk management framework, and commitment to delivering competitive returns to its investors.

The highest possible rating from Agusto reflects the strength of MREIF’s Sponsor, the Fund Manager and the Trustee, its experienced and skilled investment team, and its rigorous investment process.

“We are thrilled to receive this prestigious rating from Agusto,” said Mrs. Kai Orga, Managing Director of ARM Investment Managers. “This recognition is a validation of the entire MREIF team’s hard work and dedication to delivering exceptional results to investors. We will continue to strive for excellence and maintain our commitment to transparency, governance, and investor satisfaction.”

The Agusto rating is a significant milestone for MREIF, as it provides investors with an independent and objective assessment of the Fund’s creditworthiness and investment quality. This rating will enhance MREIF’s reputation and credibility in the market.

About MREIF

MREIF is a closed-end real estate investment fund established as a unit trust scheme, pursuant to the Securities and Exchange Commission’s Rules and Regulations, domiciled in Nigeria and denominated in Naira. The Fund is sponsored by MOFI and managed by ARM Investment Managers.

The mandate of the Fund is to bridge the Nigerian housing deficit, by addressing both the demand and supply side challenges through the provision of low-rate mortgages to intending home buyers through Eligible Financial Institutions (“EFIs”), and offtake guarantees to developers as a credit enhancement for raising construction finance for the development of residential homes.

The Fund will provide financing to EFIs at concessionary interest rates to offer long-term, low-cost, mortgage loans to qualified home buyers, thus creating effective demand for housing supplied within the Scheme and developing the mortgage market.

Federal Government of Nigeria Subscribes to the ₦150 Billion Series 1 Issuance of MREIF to Address Nigeria’s Housing Deficit

ARM Investment Managers (ARM), at the inauguration ceremony for the newly approved MREIF fund.
ARM Investment Managers (ARM), at the inauguration ceremony for the newly approved MREIF fund.

The Federal Government of Nigeria, through the Ministry of Finance Incorporated (MOFI), has fully subscribed to the Series 1 issuance of ₦150 billion for the Real Estate Investment Fund (MREIF), a landmark initiative designed to address the nation’s housing deficit and stimulate economic activity in the real estate and construction sectors.

The full subscription to the Series 1 Fund underscores the Federal Government’s pivotal role as the sponsor while empowering the private sector to lead the implementation and management of the initiative. By seeding the fund with ₦150 billion, the Federal Government has laid a strong foundation for MREIF’s success, ensuring its sustainability and long-term impact under the stewardship of private sector expertise.

ARM Investment Managers (ARM), the appointed Fund Manager for MREIF, will oversee the deployment of funds to provide long-term, low-cost mortgage financing for homeowners and offtake guarantees for developers. These measures are set to ensure the improvement in homeownership and the timely delivery of quality, affordable housing across Nigeria while boosting economic growth.

MREIF aims to transform Nigeria’s housing landscape by facilitating access to low-cost, long-term mortgages for aspiring homeowners. The Fund also has the objective of incentivizing real estate developers through offtake guarantees to raise funding for the construction of affordable housing units as well as stimulating job creation and boosting economic activity in the construction and real estate industries.

With the successful subscription of the entire ₦150 billion in Series 1 issuance and the allotment of 100% of the units to MOFI, the Series 2 issuance of ₦100 billion will be open for private and commercial investors, subject to the Securities and Exchange Commission’s approval. This is a unique opportunity for institutional investors, high-net-worth individuals, and other private stakeholders to participate in a transformative initiative that promises both economic impact and competitive financial returns.

By investing in MREIF, private investors will be supporting the improvement of homeownership in Nigeria, while also benefiting from:

  • Attractive returns on investment.
  • Diversification of their portfolios with a focus on impact-driven projects.
  • Contribution to Nigeria’s economic growth and housing solutions.
  • Alignment with the United Nation’s Sustainable Development Goals (SDGs).

The Ministry of Finance Incorporated Real Estate Investment Fund (MREIF) is an initiative of President Bola Tinubu’s vision, championed by the Honorable Minister of Finance and coordinating Minister of the Economy, Mr. Wale Edun, to improve homeownership and spur inclusive economic development.