For millions of Nigerians living overseas, the dream of owning a home back home has often been fraught with challenges—fraudulent transactions, abandoned projects, unreliable intermediaries, and a lack of secure financing channels. The Federal Mortgage Bank of Nigeria (FMBN) is now stepping in to change that narrative with the official launch of its **National Housing Fund (NHF) Diaspora Mortgage Loan**.
Unveiled in London on **August 7, 2026**, at an event attended by senior government officials, housing stakeholders, and representatives of the Nigerian diaspora community, the product provides a secure, institutional pathway for Nigerians abroad to invest in real estate without ever stepping foot in Nigeria.
How It Works
Under the new scheme, eligible Nigerians living abroad can register with the NHF Scheme, complete their Know-Your-Customer (KYC) requirements digitally, and make monthly contributions remotely—typically ranging from $100 to $200—for a minimum of 12 months to qualify. Once eligible, contributors can access up to **N100 million** in mortgage financing at a competitive **9% interest rate per annum**, with a maximum repayment tenor of **10 years**. The entire process, from registration to loan application and repayment, is designed to be completed digitally, making it accessible to Nigerians regardless of their location
A Strategic National Initiative
FMBN Managing Director and CEO, Shehu Usman Osidi, described the launch as more than just a new product: *"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 emphasised that the initiative would stimulate residential construction, support developers, create jobs, and increase foreign exchange inflows into the Nigerian economy.
The Minister of State for Housing and Urban Development, Yusuf Ata, urged Nigerians abroad to seize the opportunity, declaring: *"Register. Contribute. Participate. Invest. Own your home"*. NiDCOM Chairman Abike Dabiri-Erewa described the product as anchored on **"investment, belonging, and trust,"** calling on the diaspora community to take full advantage of this structured channel.
With diaspora remittances exceeding $20 billion annually, the FMBN's Diaspora Mortgage Loan represents a transformative opportunity to channel these funds into structured, secure investment—turning the dream of homeownership into a reality for Nigerians everywhere.