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The Nigerian Sovereign Fund to invest in NMRC

Posted by : 3Invest Media In Housing Finance, National
The Nigerian Sovereign Fund to invest in NMRC
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NSIA

The Nigeria Infrastructure Fund, one of the sovereign funds under the Nigeria Sovereign Investment Authority (NSIA) has received board approval to invest 1.6 Billion NGN (US$9.92 Million) in Nigeria Mortgage Refinance Company PLC (NMRC). Uche Orji, the Managing Director and CEO of the NSIA, will join the board of the NMRC.

In a press release, Uche Orji states, “Our Investment in NMRC is one pillar of our investment strategy in the housing and real estate sector, which also includes investment in affordable and mass housing and other commercial real estate. This Investment will provide a significant catalyst to expand access to financing for home ownership to Nigerians, We believe this is one of the fastest growing and profitable segments of the economy and will deliver tangible value to the Nigerian people.”

Lagos based Dunn Loren Merrifield was the transaction advisor and issuing house in the deal.

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