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The Federal Mortgage Bank of Nigeria (FMBN) has launched a dedicated mortgage facility for Nigerians living abroad, allowing eligible members of the diaspora to access up to ₦100 million in housing finance at an annual interest rate of 9%.
The National Housing Fund (NHF) Diaspora Mortgage Loan was unveiled in London on August 7, 2026, as the Federal Government seeks to make it easier for Nigerians overseas to own property in Nigeria while channeling more diaspora resources into the country’s housing sector.
Mortgage Application Can Be Completed Remotely
Under the new scheme, eligible Nigerians abroad can register under the NHF Scheme, complete their Know Your Customer (KYC) requirements digitally, make NHF contributions remotely and apply for mortgage financing without travelling to Nigeria.
The facility provides financing of up to ₦100 million, subject to affordability and other applicable requirements. Repayment can run for a maximum of 10 years.
FMBN Managing Director and Chief Executive Officer, Shehu Usman Osidi, said the initiative represents an expansion of the bank’s mortgage mandate rather than a departure from its core responsibilities.
He said the scheme is designed to extend homeownership opportunities beyond Nigeria’s borders while mobilising long-term capital from Nigerians living overseas.
Government Targets Fraud and Financing Challenges
The housing ministry said the product is intended to address some of the problems Nigerians abroad face when attempting to purchase property in Nigeria.
These challenges include fraudulent transactions, abandoned housing projects, unreliable intermediaries and difficulties accessing suitable mortgage financing.
Minister of Housing and Urban Development Muttaqha Rabe Darma, represented at the London launch by Minister of State Yusuf Ata, described the facility as an institutional route through which Nigerians abroad can invest in property with greater confidence.
The initiative is being promoted under the theme: “Register. Contribute. Participate. Invest. Own your home.”
FMBN Sees Wider Economic Benefits
Beyond helping Nigerians abroad purchase homes, FMBN expects the mortgage programme to generate wider economic activity.
According to Osidi, increased demand for housing could stimulate residential construction, create employment, support property developers and deepen mortgage penetration.
The bank also expects the initiative to encourage additional foreign-exchange inflows as Nigerians abroad channel part of their earnings into property investments in Nigeria.
FMBN said it would rely on technology to administer the product and improve service delivery, while maintaining standards of transparency, professionalism and accountability.
CBN Supports Risk Framework
The Central Bank of Nigeria (CBN) collaborated with FMBN in developing the risk-management framework for the Diaspora Mortgage Loan.
Mairami Ali Baba, Director of Development Finance Institutions at the CBN, said the collaboration was aimed at putting appropriate risk controls around the product to protect both the lender and borrowers.
The involvement of the apex bank forms part of efforts to ensure that the new financing channel operates within an appropriate risk-management structure.
NiDCOM Urges Diaspora Nigerians to Participate
The Nigerians in Diaspora Commission (NiDCOM) welcomed the initiative, describing it as a structured avenue for Nigerians overseas to participate in Nigeria’s real-estate market.
NiDCOM Chairman and Chief Executive Officer Abike Dabiri-Erewa encouraged Nigerians abroad to take advantage of the facility and increase their investments in the country.
The launch was also supported by the Central Association of Nigerians in the UK (CANUK), whose chairman, Iliyasu Maisanda, pledged the association’s support for the programme.
Part of Renewed Hope Housing Agenda
FMBN said the Diaspora Mortgage Loan forms part of President Bola Ahmed Tinubu’s Renewed Hope Housing Agenda, which seeks to expand access to affordable housing and mobilise investment into Nigeria’s housing ecosystem.
The bank’s official announcement said the initiative is intended to strengthen the connection between Nigerians abroad and the domestic housing market while creating additional channels for long-term investment.
With the new mortgage window, FMBN is seeking to turn the financial capacity of Nigerians in the diaspora into a more structured source of housing investment, while giving eligible contributors a digital pathway to homeownership without having to return to Nigeria to begin the process.
