Three things to know:
Nigerians living abroad can access up to N100 million under FMBN’s new Diaspora Mortgage Loan.
The facility carries an interest rate of 9% per annum with repayment of up to 10 years.
Eligible Nigerians can register, complete KYC and contribute to the National Housing Fund remotely without travelling to Nigeria.
The Federal Mortgage Bank of Nigeria (FMBN) has introduced a dedicated mortgage facility for Nigerians living abroad, offering eligible diaspora contributors access to up to N100 million in housing finance at an interest rate of 9% per annum.
The National Housing Fund (NHF) Diaspora Mortgage Loan was officially unveiled in London on Friday, August 7, 2026, during an event attended by government officials, housing and mortgage finance stakeholders, as well as members of the Nigerian community in the United Kingdom. Read full article
Under the new scheme, eligible Nigerians residing abroad can register with the NHF, complete their Know Your Customer (KYC) requirements digitally and make their contributions remotely.
They can also apply for mortgage financing without being physically present in Nigeria.
The facility provides for a maximum repayment period of 10 years, subject to the applicant meeting the applicable requirements and demonstrating affordability.
FMBN explains new mortgage scheme
FMBN Managing Director and Chief Executive Officer, Shehu Usman Osidi, said the initiative was designed to expand access to homeownership beyond Nigeria and provide Nigerians abroad with a structured way to invest in property in the country.
Osidi said the scheme would go beyond helping Nigerians in the diaspora acquire homes, noting that it could also stimulate construction, support property developers, create employment and deepen Nigeria's mortgage sector.
He described the initiative as part of the government's broader housing strategy under President Bola Ahmed Tinubu's Renewed Hope Housing Agenda.
According to him, the programme is intended to harness the financial resources of Nigerians abroad while strengthening their connection with the country.
Government highlights benefits for Nigerians in diaspora
The Minister of State for Housing and Urban Development, Yusuf Ata, who represented the substantive minister at the event, said the new mortgage product was designed to tackle some of the difficulties Nigerians abroad face when trying to acquire property in Nigeria.
He identified issues including fraudulent property transactions, abandoned developments and unreliable intermediaries as some of the challenges that have discouraged diaspora Nigerians from investing in housing projects back home.
Ata said the NHF Diaspora Mortgage Loan would provide a more structured financing channel backed by formal institutions and transparent processes.
Meanwhile, the Chairman and Chief Executive Officer of the Nigerians in Diaspora Commission (NiDCOM), Abike Dabiri-Erewa, urged Nigerians abroad to take advantage of the scheme.
She described the initiative as being built around investment, belonging and trust, while encouraging the diaspora community to use the formal platform to invest in Nigerian real estate.
FMBN had announced scheme in July
FMBN had disclosed in July that it would launch the Diaspora NHF Mortgage Loan in London on August 7, 2026.
Osidi made the announcement during his goodwill message at the 2026 National Diaspora Day Celebration in Abuja.
At the time, the bank said the facility was being developed to give Nigerians living and working abroad a safer and more transparent route to homeownership in Nigeria.
FMBN said the initiative would also help strengthen the economic and emotional ties between Nigerians abroad and their home country.
FMBN set to complete 962 housing units in Abuja
The launch comes as FMBN moves to complete 962 housing units in Abuja following the recovery of a housing estate linked to a $65 million financing facility.
The project was formally handed over to FMBN by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) following a final forfeiture order issued by the Federal High Court.
The estate, located in the Kaba District of Abuja, forms part of a housing project initiated by FMBN in 2012.
The project was later abandoned after the funds allocated to it were allegedly diverted, prompting the ICPC to institute civil and criminal proceedings over the matter.
FMBN is now expected to continue work on the recovered project as part of efforts to increase the availability of housing units in the Federal Capital Territory.
