The fund, called the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), is designed to provide low-cost mortgage solutions, particularly targeting pension account holders, in order to make homeownership more accessible to a larger portion of the population.
Speaking at the unveiling, Minister Edun highlighted the fund’s potential to deliver “cost-effective mortgage options for a broad base of pension holders,” emphasizing the significance of collaboration in making the initiative a success. The event provided an opportunity for open dialogue among stakeholders, encouraging input and idea-sharing to enhance the fund’s impact.
Dr. Armstrong Takang, CEO of the Ministry of Finance Incorporated, stressed that MREIF would operate on a market-driven model while complying with all relevant regulations, ensuring that the fund remains sustainable and effective.
The high-profile meeting, held at the Ministry of Finance headquarters, attracted key players from the pension and financial sectors, including representatives from ARM Pensions, FCMB Pensions, Trustfund, and NUPEMCO. Discussions focused on shaping the future of the fund and driving economic growth through the development of a strong real estate sector.
Among the notable figures present were the Accountant General of the Federation, Dr. Oluwatoyin Maiden; ARM Pensions Managing Director, Wale Odutola; CEO of STC Trustees, Funmi Ekundayo; and MREIF Co-Coordinator, Sani Yakubu, alongside others from institutions such as PAL Pensions, Vetiva Advisory, and Access Pensions.
