The Federal Mortgage Bank of Nigeria (FMBN) has officially launched the National Housing Fund (NHF) Diaspora Mortgage Loan, enabling Nigerians living abroad to access up to N100 million in mortgage financing for homes in Nigeria. The product, unveiled in London on August 7, 2026, allows eligible contributors to complete registration, Know Your Customer (KYC) verification, and NHF contributions remotely, without traveling to Nigeria.
How the Diaspora Mortgage Loan Works
Under the new scheme, eligible Nigerians in the diaspora must first register with the NHF scheme. The registration process is fully digital, allowing applicants to complete KYC requirements online. After registration, contributors can make NHF contributions remotely, which are mandatory for accessing the mortgage facility.
Successful applicants can borrow up to N100 million at an annual interest rate of 9%, with a maximum repayment period of 10 years. FMBN Managing Director and Chief Executive Officer, Shehu Usman Osidi, explained that the loan amount is determined by affordability and other applicable requirements, ensuring responsible lending.
Addressing Diaspora Homeownership Challenges
The initiative comes in response to long-standing difficulties faced by Nigerians abroad in purchasing property in Nigeria. Minister of State for Housing and Urban Development, Hon. Yusuf Ata, speaking on behalf of Minister Engr. Dr. Muttaqha Rabe Darma, noted that many diaspora Nigerians have encountered fraudulent property transactions, abandoned projects, unreliable intermediaries, and inadequate financing arrangements.
“The NHF Diaspora Mortgage Loan represents the Federal Government’s commitment to restoring confidence through credible institutions, transparent processes, and secure financing,” Ata said. He urged Nigerians abroad to “Register. Contribute. Participate. Invest. Own your home.”
Economic Impact and Strategic Vision
Beyond individual homeownership, FMBN’s Osidi emphasized the broader economic benefits. He stated that the scheme could stimulate residential construction, support property developers, create jobs, deepen the mortgage market, and increase foreign exchange inflows into Nigeria.
“This is therefore not simply a Diaspora product. It is a national housing finance strategy under the Renewed Hope Housing Agenda of President Bola Ahmed Tinubu, GCFR and is designed to leverage the enormous potential of Nigerians abroad for the benefit of the entire country,” Osidi said.
How to Apply
Interested Nigerians in the diaspora can register under the NHF scheme via the FMBN’s digital platforms. After completing KYC and making contributions, they can apply for the mortgage loan. The process is designed to be fully remote, eliminating the need for physical travel to Nigeria.
The FMBN’s launch in London marks a significant step in expanding housing finance accessibility, aligning with the federal government’s broader economic diversification and housing agenda.
