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First Bank of Nigeria Limited has partnered with the Ministry of Finance to introduce the Real Estate Investment Fund (MREIF), enabling Nigerians to secure loans for home ownership up to N100 million. This initiative aims to provide affordable mortgage options amid rising housing costs.
FirstBank has partnered with the Ministry of Finance and the Incorporated Real Estate Investment Fund (MREIF) to offer a revolutionary mortgage opportunity featuring single-digit interest rates. This initiative aims to make homeownership more accessible to Nigerians facing high property prices and lending rates.
Femi Otedola, the Group Chairman of First Bank Holdings, has clarified the bank's decision to write off N748 billion in bad loans, deeming it essential for the institution's long-term stability despite the severe impact on profits.
