The Nigeria Mortgage Refinance Company (NMRC) has successfully listed its N11.50 billion Series 1 Fixed Rate Bond on the FMDQ Securities Exchange Limited. The bond, which carries an interest rate of 17.25 per cent and has a maturity period of 10 years, was issued under NMRC’s larger N440 billion Medium Term Note Programme.
The development is seen as another major step toward improving housing finance in Nigeria and increasing access to affordable homes for citizens across different income groups.
According to a statement released by FMDQ Exchange, the funds raised from the bond issuance will be used to strengthen NMRC’s refinancing operations. The company also plans to increase support for mortgage lenders by providing long-term funding that can help Nigerians secure home loans more easily.
The bond issuance was sponsored by Stanbic IBTC Capital Limited, which acted as the Sole Issuing House and Bookrunner for the transaction.
Speaking during the bond listing ceremony, the Managing Director of NMRC, Kehinde Ogundimu, expressed satisfaction with the strong interest shown by investors. He noted that the successful issuance reflects confidence in NMRC’s operations and its important role in Nigeria’s housing finance sector.
Ogundimu explained that the new funding would allow the company to expand its support to mortgage lenders while helping more Nigerians gain access to affordable housing finance.
He stated that the transaction aligns with NMRC’s long-term objective of strengthening the mortgage market and making home ownership more accessible nationwide.
Also speaking on the development, the Chief Executive of Stanbic IBTC Capital Limited, Oladele Sotubo, described the bond issuance as a success, especially because it attracted strong investor demand.
According to him, the oversubscription of the bond shows that investors remain interested in well-structured and reliable investment opportunities within Nigeria’s debt capital market.
Sotubo added that Stanbic IBTC Capital remains committed to helping organisations raise long-term funds through innovative financial solutions.
The Group Chief Operating Officer of FMDQ Group, Tumi Sekoni, also highlighted the importance of the listing to the Nigerian economy. She said the successful admission of the bond on FMDQ Exchange demonstrates the growing strength and depth of Nigeria’s debt capital market.
Sekoni explained that long-term financing instruments like fixed income bonds are important for funding sectors that are critical to national development, especially housing.
She further stated that housing finance plays a major role in inclusive economic growth and improving living standards. According to her, NMRC’s continued activities on the FMDQ platform reinforce the Exchange’s commitment to providing a transparent and efficient marketplace that connects investors with issuers.
The Nigeria Mortgage Refinance Company was established in 2013 under the Companies and Allied Matters Act and began operations in 2014. The institution is regulated by the Central Bank of Nigeria and serves as a major liquidity provider in the country’s mortgage market.
Over the years, NMRC has focused on providing long-term financing to primary mortgage lenders while supporting efforts aimed at increasing affordable home ownership across Nigeria.
