FMBN launches Diaspora mortgage loan scheme for Nigerians abroad
Lagos, Aug. 2026 – The Federal Mortgage Bank of Nigeria (FMBN) has launched its National Housing Fund (NHF) Diaspora Mortgage Loan to create a formal financing channel for Nigerians living abroad.
The product was unveiled in London on Friday, August 7, 2026 for eligible Nigerians abroad to register.
Under the NHF Scheme, eligible Nigerians are to complete Know Your Customer (KYC) requirements digitally, make contributions remotely and access mortgage financing without travelling to Nigeria.
Mortgage offers up to N100m at 9%
Eligible contributors can access up to N100 million in mortgage financing, subject to affordability and applicable requirements.
The mortgage carries an interest rate of 9% per annum and a maximum repayment period of 10 years, according to FMBN.
The bank said applicants can complete key parts of the process remotely, including NHF registration, KYC requirements and contributions.
The digital structure is designed to remove some of the logistical barriers that Nigerians abroad face when seeking to acquire property in Nigeria.
FMBN targets diaspora participation in housing
Shehu Usman Osidi, the FMBN Chief Executive, said the initiative would expand the bank’s mortgage financing mandate by extending access to Nigerians regardless of their location.
He said the product is intended not only to support homeownership but also to mobilise additional long-term investment into Nigeria’s housing sector.
According to FMBN, increased diaspora participation could stimulate residential construction, support property developers, create jobs, deepen mortgage penetration and increase foreign exchange inflows.
The bank described the initiative as an extension of its broader housing finance strategy rather than a standalone diaspora programme.
Government seeks to address property fraud concerns
The launch also responds to concerns that have historically affected Nigerians abroad seeking to purchase property in the country.
Yusuf Ata, the Minister of State for Housing and Urban Development, Nigerians living abroad have faced challenges including fraudulent transactions, uncompleted projects, unreliable intermediaries and inadequate financing arrangements.
Ata, who represented the Minister of Housing and Urban Development, said the institutional framework provided by FMBN is intended to offer a more secure and transparent route to property ownership.
Abike Dabiri-Erewa, the Chief Executive of NiDCOM, also described the product as a structured channel for Nigerians abroad to invest in Nigerian real estate. (NHM)
