FMBN Launches Diaspora Mortgage Loan in London, Offers Nigerians Abroad Pathway to Homeownership
FMBN Launches Diaspora Mortgage Loan in London, Offers Nigerians Abroad Pathway to Homeownership
FMBN Launches Diaspora Mortgage Loan in London, Offers Nigerians Abroad Pathway to Homeownership
The Federal Mortgage Bank of Nigeria (FMBN) has launched its NHF Diaspora Mortgage Loan in London, providing Nigerians living abroad with a structured pathway to finance and own homes in Nigeria.
The initiative, launched on August 7, 2026, is designed to make homeownership more accessible to Nigerians in the diaspora while addressing common challenges associated with property investment in Nigeria, including fraudulent transactions, unreliable intermediaries and limited access to mortgage financing.
Under the scheme, eligible Nigerians living abroad can register under the National Housing Fund (NHF) Scheme, complete their Know Your Customer (KYC) requirements digitally, make contributions remotely and apply for mortgage financing without the need to travel to Nigeria.
Qualified contributors can access up to ₦100 million at an interest rate of 9 per cent per annum, with a maximum repayment period of 10 years, subject to affordability and other applicable requirements.
Speaking on the initiative, FMBN Managing Director/Chief Executive Officer, Shehu Usman Osidi, said the programme was designed to go beyond individual homeownership by stimulating activity across Nigeria’s housing and construction sectors.
According to him, the initiative is expected to support housing development, create employment opportunities, strengthen the mortgage market, support property developers and attract additional foreign exchange into the Nigerian economy.
“This is not simply a Diaspora product. It is a national housing finance strategy,” Osidi said.
The Chairman/Chief Executive Officer of the Nigerians in Diaspora Commission (NiDCOM), Hon. (Dr.) Abike Dabiri-Erewa, described the initiative as being built around the principles of “investment, belonging and trust.” She encouraged Nigerians living abroad to take advantage of the opportunity to invest in property and strengthen their connection with Nigeria.
The launch marks a significant step in extending Nigeria’s formal housing finance system to citizens living outside the country, giving members of the diaspora greater confidence and access to regulated mortgage financing.
With the NHF Diaspora Mortgage Loan, FMBN is seeking to bring affordable housing finance closer to Nigerians wherever they live while encouraging diaspora investment and contributing to the growth of Nigeria’s housing sector.
FMBN Launches Diaspora Mortgage Loan in London, Offers Nigerians Abroad Pathway to Homeownership
