The Federal Mortgage Bank of Nigeria (FMBN) has taken its mortgage services to the Nigerian diaspora in the United Kingdom, launching a new housing finance scheme that offers eligible Nigerians abroad access to loans of up to ₦100 million at an interest rate of 9 per cent.
The National Housing Fund (NHF) Diaspora Mortgage Loan was unveiled in London on August 7, 2026, as part of efforts by the Federal Government to make home ownership and property investment in Nigeria more accessible to Nigerians living outside the country.
Under the scheme, qualified Nigerians in the diaspora can obtain mortgage financing of up to ₦100 million, with a repayment period of up to 10 years, subject to the applicant’s eligibility and repayment capacity.
The initiative brings mortgage services closer to Nigerians abroad and eliminates the need for applicants to travel to Nigeria simply to begin the financing process.
Speaking at the launch, the Managing Director and Chief Executive Officer of FMBN, Shehu Usman Osidi, said key aspects of the process—including National Housing Fund registration, Know Your Customer (KYC) verification, NHF contributions and mortgage applications—can be undertaken remotely.
The move is particularly significant for Nigerians who have sought to acquire property in Nigeria but have faced challenges including fraudulent transactions, abandoned housing projects and unreliable agents or intermediaries.
The Minister of State for Housing and Urban Development, Yusuf Ata, said the initiative was designed to provide Nigerians in the diaspora with a more secure, transparent and structured pathway to home ownership and property investment in Nigeria.
The scheme is also expected to generate wider economic benefits by stimulating residential construction, supporting property developers, creating employment opportunities and attracting additional foreign exchange into the Nigerian economy through diaspora investment.
The initiative received support from the Nigerians in Diaspora Commission (NiDCOM), with its Chairman and Chief Executive Officer, Abike Dabiri-Erewa, encouraging Nigerians abroad to take advantage of the new mortgage facility.
For many Nigerians living overseas, purchasing property back home has remained an important form of investment and a means of maintaining a long-term connection with Nigeria. However, concerns over transparency, financing and property security have often discouraged potential buyers.
The FMBN’s diaspora mortgage initiative is therefore being positioned as an institutional response to some of these challenges, providing Nigerians abroad with access to formal mortgage financing while allowing them to manage much of the process from their country of residence.
With financing of up to ₦100 million at 9 per cent interest, the NHF Diaspora Mortgage Loan represents a significant opportunity for eligible Nigerians abroad seeking to build homes, acquire property or strengthen their investments in Nigeria.
The London launch marks the Federal Government’s latest effort to deepen engagement with the Nigerian diaspora and channel diaspora resources into Nigeria’s housing and real estate sector.
