Nigerians in 31 countries sign up to FMBN diaspora mortgage scheme

The Federal Mortgage Bank of Nigeria says its NHF Diaspora Mortgage Product is attracting contributions from Nigerians in 31 countries across six continents.

The Federal Mortgage Bank of Nigeria (FMBN) says its National Housing Fund (NHF) Diaspora Mortgage Product is attracting contributions from Nigerians in 31 countries across six continents, Radio Nigeria reported. FMBN Managing Director Shehu Osidi said at the 2026 Nigeria Diaspora Investment Summit that the main obstacle was not a lack of opportunities but concerns over transparency, accountability and fraud. “The fundamental issue, therefore, is not the absence of opportunities or the willingness of Nigerians abroad to invest. It is the ability to connect available capital with credible, properly structured and verifiable opportunities,” he said.

Osidi said the product, launched in London on August 7, 2026, lets eligible Nigerians aged 18 to 70 contribute between 100 and 300 dollars monthly and qualify for mortgage financing after 12 to 24 months. Beneficiaries can also access loans of up to 100 million naira, with a 10 per cent equity contribution and repayment periods of up to 10 years, subject to eligibility requirements.