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The Federal Mortgage Bank of Nigeria will launch its Diaspora National Housing Fund Mortgage Loan in London on August 7, opening a formal pathway for eligible Nigerians abroad to access affordable housing finance and invest in residential property back home.
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The initiative is expected to deepen mortgage penetration, attract diaspora investment into Nigeria’s housing sector, stimulate construction activities, create jobs and strengthen confidence in the country’s mortgage finance system.
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The launch comes as FMBN expands housing finance reforms, with plans to increase the mortgage ceiling to ₦85 million, facilitate at least 2,000 mortgages annually and improve access to affordable homeownership.
July 28, (THEWILL) — Nigeria’s housing finance drive will take a significant step beyond its borders next month as the Federal Mortgage Bank of Nigeria (FMBN) prepares to launch its Diaspora National Housing Fund (NHF) Mortgage Loan, a new financing product designed to enable eligible Nigerians living and working abroad to own homes in the country.
The mortgage product will be officially unveiled on August 7, 2026, in London, United Kingdom, marking the first time the bank is extending the National Housing Fund mortgage scheme specifically to Nigerians in the diaspora.
The announcement was made by the Managing Director and Chief Executive Officer of FMBN, Shehu Usman Osidi, during his goodwill message at the 2026 National Diaspora Day celebration in Abuja, according to a statement issued by the bank’s Group Head of Corporate Communications, Joe Abuku.
Diaspora homeownership takes centre stage
Osidi described the initiative as a major milestone in the bank’s efforts to broaden access to affordable housing finance beyond Nigeria’s borders.
According to him, the Diaspora NHF Mortgage Loan will provide a transparent and credible platform through which Nigerians abroad can invest in residential property, build long-term wealth, prepare for retirement and maintain stronger economic ties with the country.
“The launch marks a major milestone in extending affordable housing finance to eligible Nigerians living and working abroad”, Osidi said.
He added that beyond helping diaspora Nigerians own homes, the scheme is expected to stimulate housing construction, deepen mortgage penetration, formalise housing transactions and attract additional diaspora investment into the Nigerian economy.
Part of broader housing finance reforms
The launch complements ongoing reforms by the Federal Government aimed at expanding mortgage accessibility through FMBN.
Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, had recently announced measures to strengthen mortgage financing, including plans to increase the maximum mortgage loan ceiling to ₦85 million and facilitate at least 2,000 mortgages annually.
The reforms also allow eligible National Housing Fund contributors to utilise up to 25 percent of their Retirement Savings Account as equity contribution toward homeownership, a move expected to ease access to mortgage finance.
Industry stakeholders believe the new diaspora mortgage window could further widen FMBN’s reach by tapping into the significant remittance flows from Nigerians living overseas while supporting investment in the housing sector.
Building on stronger NHF performance
The proposed mortgage product comes as FMBN continues to report improved operational performance under ongoing reforms.
According to the bank, National Housing Fund collections reached a record ₦152.4 billion in 2025, representing a 48 per cent increase from ₦103 billion recorded in 2024.
NHF refunds also rose to ₦15.6 billion, benefiting 55,068 contributors during the year, while loan approvals increased to ₦71.5 billion from ₦39.7 billion in 2023.
FMBN also recorded an operational surplus of ₦11.58 billion in its 2024 management accounts, its first positive operational result in more than three decades.
Osidi said the improvements reflect reforms aimed at strengthening operational efficiency, reducing processing timelines and expanding access to affordable housing finance for Nigerians.
NiDCOM Chairman and Chief Executive Officer, Abike Dabiri-Erewa, welcomed the introduction of the Diaspora NHF Mortgage Loan, describing it as another important step toward making homeownership more accessible to Nigerians living abroad while encouraging greater diaspora participation in national development.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
