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FG-backed mortgage reforms help over 700 Nigerians become homeowners in 6 months

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More than 700 Nigerians have successfully transitioned from renters to homeowners within six months, following the implementation of landmark mortgage reforms spearheaded by the Federal Government through the Ministry of Finance Incorporated (MOFI).

The milestone, announced on Tuesday, marks a significant shift in Nigeria’s housing sector, which has long faced challenges including high interest rates, limited financing options, slow mortgage processing, and a housing deficit exceeding 28 million units.

Central to this transformation is the MOFI Real Estate Investment Fund (MREIF), a Securities and Exchange Commission (SEC)-registered ₦1 trillion fund designed to provide long-term, affordable mortgages to ordinary Nigerians.

The fund offers interest rates as low as 9.75 percent per annum and repayment periods of up to 20 years, making homeownership more accessible than ever.

At full utilization, MREIF aims to enable at least 12,000 Nigerians to own homes, with additional refinancing support planned through the Nigerian Mortgage Refinancing Company.

For decades, many Nigerians have been trapped in a cycle of rent payments, often described as “funding their landlord’s retirement.” Now, with MREIF, homebuyers can secure loans and move into their own homes within weeks.

Since its launch, MREIF has disbursed funds to over 700 homebuyers through 11 Eligible Financial Institutions across five regions of the country.

These institutions, licensed by the Central Bank of Nigeria and preapproved by MREIF, include Abbey Mortgage Bank, Access Bank, AG Mortgage Bank, FCMB, FHA Mortgage Bank, Gateway Mortgage Bank, Globus Bank, Homebase Mortgage Bank, Imperial Homes Mortgage Bank, Infinity Trust Mortgage Bank, Living Trust Mortgage Bank, Nigeria Police Mortgage Bank, Providus Bank, Stanbic IBTC, and Union Bank. Each mortgage represents a family moving from rent into ownership, building equity, stability, and generational wealth.

The Federal Government committed ₦150 billion under Series 1 funding, fully subscribed in December 2024, while private sector investors added another ₦100 billion under Series 2. Additional tranches could scale the fund to ₦1 trillion, ensuring long-term sustainability.

The fund is professionally managed by ARM Investment Managers, with a structure anchored in public–private collaboration to ensure affordability, transparency, and efficiency.

Wale Odutola, CEO of ARM HoldCo, said MREIF embodies the kind of partnership Nigeria has long needed—government resolve combined with private sector rigour.

He added that together with MOFI, they are laying the structural foundation for a housing sector that rewards citizens, unlocks investor confidence, and drives inclusive growth.

Beyond individual mortgages, MREIF also offers offtake guarantees to developers, encouraging new construction projects, creating jobs, and strengthening the housing supply chain. Nigerians in the diaspora now have a transparent, government-backed platform to invest in secure homeownership.

Despite challenges such as inflation, forex volatility, and high construction costs, MREIF’s long-term financing model is designed to withstand economic shocks. As more financial institutions, pension funds, and developers join the initiative, thousands more Nigerians—both at home and abroad—are expected to benefit.

The message is clear: the era of affordable homeownership has arrived in Nigeria. With Federal Government backing and private sector management, MREIF is not just a housing scheme—it is a national economic reform poised to reshape lives and communities across the country.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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It is Official, DStv Confirms Termination of 16 Major Channels

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A major shake‑up rocks viewers and subscribers of DSTV/GOTV as many channels are set to shut down and be removed on January 1, 2026.

It is Official, DStv Confirms Termination of 16 Major Channels

The trigger for the upcoming shut‑down is a breakdown in negotiations between the owners of multiple global channels and the pay‑TV operator.

As of December 2025, the deal between Warner Bros. Discovery (WBD) and DStv/GOtv has expired and the two parties have not reached a renewal agreement.

Without a new carriage/distribution agreement, the channels belonging to WBD risk being pulled off the DStv/GOtv line‑up.

This is the most significant content cutback the service has seen in years.

The affected channels are:

Discovery Channel

TLC

Cartoonito

Cartoon Network

CNN International

Food Network

The Travel Channel

TNT

Investigation Discovery

Real Time

HGTV

Discovery Family


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Paramount Africa Shuts Down after 20 Years

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Paramount Africa is officially shutting down at the end of December 2025, drawing the curtain on more than two decades of operations in South Africa and Nigeria.

Paramount Africa Shuts Down after 20 Years

The company, which once reached over 100 million viewers across 52 African territories, confirmed it will close its doors as part of a massive global restructuring at its parent company, Paramount Global.

This is the same Paramount Africa behind channels like BET, MTV, MTV Base, Comedy Central, Nickelodeon, and more.

Its digital footprint has also been significant, with millions of monthly page views, social media engagements, and content partnerships across Africa.

But despite that scale, rising costs and a global strategic reset have caught up with the business.

Paramount’s retrenchment has been building for months.

Earlier this year, plans to launch a standalone Paramount+ app in South Africa were quietly shelved.

Then in August, the company said its content would remain available only via DStv and Showmax.

And last month, MultiChoice confirmed that BET Africa and MTV Base will disappear from DStv and GOtv on January 1, 2026, as Paramount Africa winds down entirely.

The shutdown is tied to aggressive cost-cutting after Paramount’s merger with Skydance. The company is targeting a 15% reduction in global staff and $3 billion in savings.

International divisions, including Africa, have taken the hardest hit as the business pivots away from linear TV and doubles down on a more streamlined streaming-first model.

At the same time, the global media landscape is being shaken by Warner Bros. Discovery’s chaotic auction. Netflix, Paramount, and Comcast have all submitted fresh bids for WBD, with some offers reportedly focusing on the studios-and-streaming division, home to HBO, HBO Max, DC, and Warner Bros. Pictures.

Analysts say the crown jewel bundle could go for as much as $70 billion, a deal that would reshape Hollywood and accelerate the decline of traditional TV.


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DStv Subscribers May Lose CNN, Discovery, TLC in 2026

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DStv subscribers may lose access to 12 major Warner Bros. Discovery (WBD) channels, including CNN International, Discovery Channel, TLC, and Cartoon Network, from Jan. 1, 2026, if MultiChoice and WBD fail to conclude a new distribution agreement.

DStv Subscribers May Lose CNN, Discovery, TLC in 2026

DStv

MultiChoice, now owned by Canal+, issued a notice to customers on Monday, warning that its current carriage deal with WBD will expire on Dec. 31, 2025, and negotiations to renew the contract remain inconclusive.

“While discussions between the parties continue, no agreement has been reached at this stage. If this remains unchanged, several Warner Bros. Discovery channels may no longer be available on DStv from Jan. 1, 2026,” the company said.

The channels at risk include Discovery Channel, CNN International, TLC, Discovery Family, Real Time, TNT Africa, Food Network, HGTV, Investigation Discovery, Cartoon Network, Cartoonito, and Travel Channel.

The development comes amid subscriber losses for MultiChoice, which has shed 2.8 million active linear subscribers over the last two financial years.

This includes 1.2 million customers lost in 2025 alone, representing an 8 per cent decline across South Africa and the rest of Africa.

In Nigeria, MultiChoice has lost 1.4 million subscribers in the past two years, largely due to repeated subscription price increases, according to Nairametrics.

The broadcaster is also set to lose additional content in the coming months. Paramount Africa will discontinue BET Africa and MTV Base from Jan. 1, 2026, while CBS Reality and CBS Justice will cease operations on Dec. 31, 2025.


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