MOFI REAL ESTATE INVESTMENT FUND

MOFI Real Estate Investment Fund (MOFIREIF) is a closed-end real estate investment fund established under a unit trust scheme, sponsored by the Ministry of Finance Incorporated (MOFI), which serves as the investment arm of the Federal Government of Nigeria. The fund commenced operations on March 17, 2025, and is a key component of the nation's "One Million Homes Housing Project," aligned with the government's broader strategy to address Nigeria's significant housing deficit. It operates under the regulatory oversight of the Securities and Exchange Commission (SEC) and is listed on the Nigerian Exchange (NGX) under the ticker MOFIREIF, providing a structured avenue for both public and private capital participation. The core business model of MOFIREIF centers on mobilizing capital to enhance housing affordability and delivery across Nigeria. The fund provides long-term, low-interest financing to Eligible Financial Institutions, enabling them to offer single-digit interest rate mortgages to qualifying homebuyers. Additionally, it extends conditional off-take guarantees to developers, serving as a credit enhancement mechanism to support the financing of residential housing projects. MOFIREIF aims to facilitate the construction and sale of affordable homes, primarily targeting low- and middle-income earners throughout Nigeria, with mortgage origination extending across numerous states and the Federal Capital Territory. The fund is managed by ARM Investment Managers Limited, with STL Trustees as Trustee and First Nominees as Fund Custodian.