FMBN Opens Mortgage Window for Nigerians Abroad to Get N100m to Buy Homes
- The Federal Mortgage Bank of Nigeria launched its NHF Diaspora Mortgage Loan in London on August 7, 2026
- Eligible Nigerians in the diaspora can apply remotely, completing KYC and NHF contributions without travelling to Nigeria
- The mortgage product carries a 9% annual interest rate with a maximum repayment period of 10 years
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Federal Mortgage Bank of Nigeria (FMBN) has launched its National Housing Fund (NHF) Diaspora Mortgage Loan to provide Nigerians living abroad with access to formal mortgage financing for homeownership in Nigeria.
The new mortgage product was officially launched in London on Friday, August 7, 2026, as part of efforts to expand access to housing finance and encourage Nigerians abroad to invest in the country's real estate sector.
Source: Getty Images
The initiative allows eligible Nigerians in the diaspora to participate in the NHF scheme remotely and access mortgage financing without travelling to Nigeria.
How Nigerians abroad can access FMBN's N100m mortgage
FMBN Managing Director and Chief Executive Officer, Shehu Usman Osidi, explained that the new product was designed to make it easier for Nigerians abroad to participate in the country's housing finance system.
1. Register under the NHF scheme
Eligible Nigerians living abroad are required to register under the National Housing Fund (NHF) scheme to participate in the mortgage programme.
The initiative provides a formal institutional channel for Nigerians abroad who want to own or invest in residential property in Nigeria.
2. Complete your KYC digitally
Applicants can complete their Know Your Customer (KYC) requirements digitally as part of the registration process.
This means Nigerians living abroad can complete key requirements remotely without having to travel to Nigeria.
3. Make NHF contributions remotely
Eligible Nigerians can make their National Housing Fund contributions remotely after registering under the scheme.
The contributions form part of the requirements for accessing mortgage financing under the NHF framework.
4. Access up to N100 million
Eligible contributors can access up to N100 million in mortgage financing under the diaspora mortgage product.
However, FMBN said the amount available to each applicant will depend on affordability and other applicable requirements.
5. Pay 9% interest
The mortgage facility carries an interest rate of 9% per annum.
The loan has a maximum repayment tenor of 10 years, allowing eligible borrowers to spread their repayments over the agreed period.
6. Own a home without travelling to Nigeria
One of the major features of the product is that eligible Nigerians abroad can participate remotely.
FMBN said applicants can register, complete their KYC requirements, make contributions and access mortgage financing without travelling to Nigeria.
FG explains why FMBN launched diaspora mortgage
The Minister of Housing and Urban Development, Engr. Dr. Muttaqha Rabe Darma, represented by the Minister of State for Housing and Urban Development, Hon. Yusuf Ata, said many Nigerians abroad had long wanted to own homes in Nigeria.
The minister noted that some members of the diaspora had encountered challenges including fraudulent property transactions, abandoned projects, unreliable intermediaries and inadequate financing arrangements.
He said the new mortgage product was designed to restore confidence by providing credible institutions, transparent processes and secure financing.
He said:
“The NHF Diaspora Mortgage Loan represents the Federal Government’s commitment to restoring confidence through credible institutions, transparent processes, and secure financing.”
The minister urged Nigerians abroad to take advantage of the opportunity, saying:
“Register. Contribute. Participate. Invest. Own your home.”
Source: Getty Images
FMBN says scheme will boost Nigeria's economy
FMBN's Osidi said the diaspora mortgage initiative was more than a homeownership product, describing it as part of a broader national housing finance strategy.
He said the scheme could stimulate residential construction, support property developers, create jobs, deepen mortgage and increase foreign exchange inflows into Nigeria.
He said:
“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."
FG opens portal for Nigerians to apply for N1m for laptops, phones
Earlier, Legit.ng reported that the federal government has released details of how Nigerians can apply for financing to acquire laptops, smartphones, tablets, and other digital devices through the C.L.I.C.K.D. Programme.
The initiative, implemented by the Nigerian Consumer Credit Corporation (CREDICORP), aims to make digital devices more accessible by offering eligible Nigerians consumer credit to purchase the equipment they need.
Source: Legit.ng
