NGX lists MOFI real estate investment fund

The Nigerian Exchange (NGX) Limited has listed the Ministry of Finance Incorporated (MOFI) real estate investment fund (MREIF) series 2.

In a statement on Tuesday, the NGX said the listing was commemorated with a closing gong ceremony at the exchange, which had in attendance Wale Edun, minister of finance and coordinating minister for the economy.

The NGX said the event underscored the capital market’s role in national development, particularly in addressing Nigeria’s housing deficit.

“The ceremony also highlighted the strength of collaboration between the federal government, MOFI, and the private sector in mobilising innovative financing for housing,” the statement said.

“The listing took place against the backdrop of cautious trading in the equities market, as investors recalibrate portfolios in response to geopolitical tensions arising from the US–Nigeria diplomatic standoff, the proposed capital gains tax (CGT), year-end portfolio rebalancing, and expectations of window-dressing by institutional players.”

‘CAPITAL MARKET A TOOL FOR CREATING WEALTH’

Temi Popoola, group managing director and chief executive officer of NGX Group, reaffirmed the capital market’s role as a catalyst for inclusive growth and urged the federal government to ensure balance in the implementation of the CGT.

“The capital market is not only a platform for attracting investment but also a tool for creating wealth for Nigerians,” Popoola said.

“Policies such as the capital gains tax must be carefully designed to balance government revenue objectives with investor confidence and market growth.

“NGX Group remains committed to supporting the renewed hope agenda by channeling private capital into initiatives that deliver sustainable, long-term impact.”

Responding, Edun assured stakeholders that the federal government has noted the concerns around capital gains tax and remains committed to consultation with the market.

“We have noted the concerns around capital gains tax and will continue to engage with the capital market to ensure any decisions deliver optimal outcomes for both Nigerians and the market,” the minister said.

“At N100 per unit, MREIF allows ordinary Nigerians to participate in savings and investment, leveraging local resources to grow our economy, especially in the housing sector.”

Ahonsi Unuigbe, chairman of NGX, described the listing as a defining step toward transforming Nigeria into a leading economy that ensures shared prosperity.

In his remarks, Jude Chiemeka, chief executive officer of NGX, said MREIF demonstrates how the capital market can deliver practical solutions to national challenges.

“By channeling private capital into housing, we are creating opportunities for long-term investment and wealth creation while addressing Nigeria’s housing deficit,” Chiemeka said.

Armstrong Ume Takang, managing director and chief executive officer of MOFI, said the fund provides long-term, low-cost mortgage financing aimed at making homeownership a reality for millions of Nigerians, stimulating local economies across the housing value chain.

According to the statement, the closing gong ceremony positioned MREIF as a model for inclusive economic growth, illustrating how institutional capital can drive both financial stability and social impact.

The NGX said with over 1,000 mortgages already disbursed, the initiative continues to expand middle-class wealth and deepen Nigeria’s capital market.