05/08/2026
NMRC Reaffirms Financial Resilience at 12th Annual General Meeting
…as shareholders approve dividend, Board appointments
August 4, 2026, Lagos, Nigeria - Nigeria Mortgage Refinance Company PLC (NMRC) held its 12th Annual General Meeting (AGM) virtually on Tuesday, August 4, 2026. The meeting, presided over by the Chairman, Dr. Olabanjo Obaleye, was well attended by representatives of its corporate shareholders, regulators which included the Central Bank of Nigeria, the Securities and Exchange Commission, Corporate Affairs Commission and other key stakeholders.
In presenting the Company’s Annual Report and Accounts for 2025 to the shareholders, the Chairman remarked that despite significant macroeconomic headwinds, NMRC delivered a modest performance in 2025, reflecting prudent management, disciplined ex*****on, and a continued focus on long-term sustainability. While profitability moderated during the year, the Company remained financially sound, maintaining adequate capital and liquidity positions and continuing to operate within applicable regulatory requirements and prudential standards.
The Company’s Chief Executive Officer, Mr. Kehinde Ogundimu, noted in his remarks that given the unusually high-interest rate environment in the year under review, the Company took a proactive, non-distress driven strategic decision to prudently manage liabilities and repayments by contracting the balance sheet, reflecting balance sheet discipline in a high-interest rate environment. Net Interest Income for the year was ₦6.462 billion, a marginal increase of 2.45% over 2024. Profit before Tax was ₦3.489 billion, a decrease of 7.5% from 2024.
In his closing remarks, the Chairman extended his gratitude to the shareholders, directors, regulators and all other stakeholders for their unwavering support and collaboration.
The AGM saw the shareholders approve a dividend payment of ₦0.80k per share, ratification of the appointment of Mr. Adeyemi Odubiyi and Mr. Arinze Adigwe as Non-Executive Directors and the re-election of Ms. Funke Aboyade, SAN and Dr. Markie Idowu as Directors.
The shareholders also approved the re-appointment of Messrs PricewaterhouseCoopers (PwC) as the External Auditor of the Company till the next AGM.
For more details, please visit our Investor Relations page at https://nmrc.com.ng/investor-relations/.
