Federal Mortgage Bank of Nigeria launches diaspora mortgage loan

National Housing Fund diaspora mortgage affordable housing real estate investment FMBN

The Federal Mortgage Bank of Nigeria (FMBN) has launched the National Housing Fund (NHF) Diaspora Mortgage Loan, a new initiative designed to allow Nigerians living abroad to invest in and own property within Nigeria.

The product was unveiled in London by the Minister of Housing and Urban Development, Dr. Muttaqha Darma, represented by the Minister of State, Yusuf Ata. The initiative aims to provide a secure, institutional pathway for the diaspora, addressing previous challenges such as fraudulent transactions, unreliable intermediaries, and inadequate financing.

Under this new scheme, eligible Nigerians living abroad can register, make contributions, and complete requirements digitally. This allows participants to access mortgage financing without the need to travel to Nigeria. FMBN Managing Director Shehu Osidi noted that the expansion seeks to mobilize long-term investment into the national housing sector and strengthen the bond between Nigeria and its citizens abroad.

Entities

Federal Mortgage Bank of Nigeria · London · Muttaqha Darma · Nigeria · Shehu Osidi

Sources

FMBN opens a pathway for Nigerians abroad to own homes in Nigeria, launches diaspora mortgage product [championnews.com.ng]

12 days ago

Nigeria Opens a New Housing Bridge to Its Diaspora With FMBN and Co - Ben Television | Breaking - Nigeria, Africa and World Top News. [bentelevision.com]

12 days ago

FMBN Inaugurates NHF Diaspora Mortgage Loan [dmarketforces.com]

13 days ago

Nigeria: FMBN opens secure pathway for diasporan with launch of diaspora mortgage product - Blueprint Newspapers Limited [blueprint.ng]

12 days ago