The Federal Mortgage Bank of Nigeria (FMBN) has launched a dedicated mortgage product for Nigerians living abroad, offering eligible applicants access to up to N100 million in housing finance at an interest rate of 9 per cent per annum.
The National Housing Fund (NHF) Diaspora Mortgage Loan allows eligible Nigerians abroad to register under the NHF Scheme, complete Know Your Customer (KYC) requirements digitally, make contributions remotely and apply for mortgage financing without travelling to Nigeria.
The product was unveiled in London on Friday, August 7, 2026, at an event attended by government officials, housing and mortgage finance stakeholders, and members of the Nigerian diaspora community in the United Kingdom.
Under the scheme, eligible applicants can access up to N100 million, subject to affordability and other applicable requirements, with a maximum repayment period of 10 years.
Shehu Usman Osidi, FMBN Managing Director and Chief Executive Officer, said the initiative was designed to extend affordable homeownership opportunities to Nigerians regardless of where they live.
“Today, we are not merely unveiling another mortgage product. We are opening a new chapter in Nigeria’s housing finance landscape, a chapter that extends the opportunity of affordable homeownership beyond our borders and strengthens the enduring bond between Nigeria and her citizens across the world,” he said.
Osidi said the initiative would go beyond helping Nigerians abroad acquire homes, arguing that it could stimulate residential construction, support property developers, create jobs, deepen mortgage penetration and increase foreign exchange inflows.
“This is not simply a Diaspora product. It is a national housing finance strategy under the Renewed Hope Housing Agenda of President Bola Ahmed Tinubu and is designed to leverage the enormous potential of Nigerians abroad for the benefit of the entire country,” he added.
Yusuf Ata, Minister of State for Housing and Urban Development, who represented the substantive minister at the launch, said the product was designed to address some of the longstanding challenges faced by Nigerians abroad seeking to invest in property in Nigeria.
These challenges include fraudulent transactions, abandoned housing projects and unreliable intermediaries.
According to Ata, the NHF Diaspora Mortgage Loan is intended to restore confidence in the Nigerian housing market through credible institutions, transparent processes and secure financing.
NiDCOM Chairman and CEO, Abike Dabiri-Erewa, also urged Nigerians in the diaspora to take advantage of the structured financing channel, describing the initiative as being built around investment, belonging and trust.
Under the new product, eligible Nigerians living abroad can:
- Register under the National Housing Fund Scheme.
- Complete KYC requirements digitally.
- Make NHF contributions remotely.
- Apply for mortgage financing without travelling to Nigeria.
- Access up to N100 million, subject to affordability and other applicable requirements.
- Repay the mortgage over a maximum period of 10 years.
The initiative is expected to provide a more structured route for Nigerians abroad who want to acquire residential property in Nigeria while reducing their exposure to informal and potentially risky property transactions.
