National Executive Council (NEC) of the Mortgage Banking Association of Nigeria (MBAN) has stated that the N250 billion Mortgage and Real Estate Investment Fund (MREIF), approved by the Federal Government, would attract long-term investments from the private sector,  pension funds operators and life insurance companies.
 
In a joint statement signed by its President and Executive Secretary/CEO, Ebliate Mac-Yoroki, and Dr Adedeji Ajadi, the association lauded the Minister of Finance and Coordinating Minister of the Economy, Olawale Edun, as well as the Minister of Housing and Urban Development, Ahmed Dangiwa, stating that the initiative would provide low-cost seed funding to the private sector, and address the housing deficit in Nigeria.
 
Edun had last week announced the approval of MREIF, an initiative geared at enhancing access to long-term and sustainable mortgage banking and finance on affordable housing for low and middle-income earners.