馃嚦馃嚞NigeriaWest Africa
President Tinubu commends MOFI's N128bn mortgage delivery to 1,859 families
via Punch Nigeria2 min read
President Bola Tinubu praised the Ministry of Finance Incorporated Real Estate Investment Fund MREIF for providing N128bn in affordable mortgages to 1,859 families across 25 states. He highlighted this achievement as evidence that effective policy frameworks can enable home ownership for many Nigerians previously excluded from the market. The beneficiaries, from all six geopolitical zones, received mortgages for up to 20 years at a fixed interest rate of 9.75 percent annually, with a minimum 10 percent equity contribution, terms largely unavailable in Nigeria for nearly six decades. Tinubu noted that this progress by MREIF demonstrates that with appropriate policies, strong institutions, and partnerships, access to home ownership can be expanded, allowing more Nigerians to build wealth through asset ownership. Beyond the disbursed mortgages, MREIF has generated N221bn in total property value and supported the delivery of 475 housing units through off-take guarantee arrangements. The average mortgage beneficiary is 42 years old, reflecting demand among working-age Nigerians who have historically lacked long-term housing finance. MREIF is a N1tn housing finance platform, with a pilot phase of N250bn in concessionary and commercial funding, sponsored by the Ministry of Finance Incorporated and managed by ARM Investment Managers. Its Series 2 commercial issuance holds AAA and AA ratings from Agusto & Co. and GCR Ratings. Tinubu stated that MREIF complements the Renewed Hope Citie
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This summary was AI-generated from a story originally published by Punch Nigeria.
Nana Otedola, mother of actress Temi Otedola, expressed surprise upon learning that her daughter and singer Oluwatosin Ajibade, known as Mr Eazi, were expecting their first child shortly after their wedding. Speaking on the couple's How Far podcast, Nana initially anticipated that the newlyweds would enjoy a few years of married life before starting a family. Temi reminded her mother that she and Mr Eazi had already dated for five years before marrying. Nana stated that she has since learned not to be presumptuous about the couple's decisions. She also believes that Temi and Mr Eazi complement each other well. Temi and Mr Eazi announced their pregnancy in May, approximately nine months after their private wedding in Reykjav铆k, Iceland. The couple, who got engaged in April 2022 after four years of dating, married in August 2025 at Hallgr铆mskirkja Church in Reykjav铆k. Temi cited Mr Eazi being her best friend as the reason for their marriage, while Mr Eazi noted that Temi helped him understand genuine love and valued his time and effort over material gifts.
Paul University, Awka, Anambra State, has suspended Ven. Cornelius Eze, an Anglican priest and Practical Biology Technologist, following allegations of serious sexual misconduct involving him and a female student. The university's management announced the indefinite suspension on July 17, 2026, stating it is a preliminary administrative measure pending the outcome of internal disciplinary processes and investigations by law enforcement agencies. The allegations were brought to the university's attention on July 14, 2026, prompting immediate intervention and involvement of security agencies to prevent a breakdown of order among students. The university emphasized its commitment to integrity and a safe learning environment, stating it does not condone sexual harassment or misconduct and will deal with any culpable individuals according to due process. The institution also noted that counseling and therapeutic support are being provided to the affected student and other community members, urging the public to avoid speculation.
The Federal Government has launched a Digital Standards Platform to enhance Nigeria鈥檚 quality infrastructure, improve access to industrial standards, and strengthen public procurement, aiming to boost the competitiveness of Made-in-Nigeria products. Developed by the Standards Organisation of Nigeria, the Bureau of Public Procurement, and Goringo Consult Limited, the platform digitizes access to Nigerian Industrial Standards, certification services, and compliance tools. This initiative also makes the Nigerian Industrial Standards Attestation Certificate a mandatory bid document for all Federal Government procurement involving goods, works, and services where these standards apply. Senator John Owan Enoh, the Minister of State for Industry, described the platform as a landmark reform that will deepen industrialization, improve the ease of doing business, and strengthen President Bola Tinubu鈥檚 Nigeria First Policy. He noted that the platform addresses the long-standing issue of poor access to standards, which particularly affected Micro, Small and Medium Enterprises. The Director-General of the Standards Organisation of Nigeria, Ifeanyi Okeke, stated that the platform serves as a single digital gateway to Nigeria鈥檚 quality infrastructure, providing access to standards, certification services, certified manufacturers, and verified products. He added that it offers affordable access to internationally recognized standards and will help eliminate counterfeit products by allowing c