FMBN to Launch Diaspora NHF Mortgage Loan for Nigerians Abroad on August 7
Nigerians Abroad to Access NHF Mortgage Loans as FMBN Launches Diaspora Scheme
The Federal Mortgage Bank of Nigeria (FMBN) will officially launch its Diaspora National Housing Fund (NHF) Mortgage Loan on 7 August 2026 in London, creating a new pathway for eligible Nigerians living abroad to access affordable mortgage finance for residential property in Nigeria. The initiative is expected to deepen diaspora participation in the housing sector, expand mortgage access and attract fresh investment into residential development.
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The announcement was made by FMBN Managing Director and Chief Executive Officer, Shehu Usman Osidi, during the 2026 National Diaspora Day celebration in Abuja. According to the bank, the product is designed to enable Nigerians in the diaspora to contribute to the National Housing Fund Scheme and obtain mortgage financing without having to return home to begin the process.
Expanding access to affordable housing finance
The Diaspora NHF Mortgage Loan forms part of FMBN's broader strategy to broaden homeownership opportunities beyond Nigeria's borders and leverage diaspora remittances to support housing development.
Under the scheme, eligible Nigerians abroad will be able to register for the National Housing Fund, make the required monthly contributions and subsequently apply for mortgage financing to purchase homes in Nigeria. The programme is expected to improve access to long-term, single-digit mortgage financing while creating a structured and regulated channel for diaspora investment in the housing market.
According to the programme guidelines published by the Nigerians in Diaspora Commission (NiDCOM), applicants must contribute to the NHF for at least 12 months before becoming eligible for the loan. The scheme offers mortgage loans of up to ₦50 million, with a maximum tenor of 15 years, subject to eligibility and repayment capacity.
Boosting diaspora investment in Nigeria's housing sector
Nigeria remains one of Africa's largest recipients of diaspora remittances, and policymakers have increasingly identified these inflows as a potential source of long-term housing finance.
FMBN expects the new mortgage product to channel a greater share of diaspora funds into formal residential development, helping to stimulate housing construction, create employment across the building value chain and strengthen confidence in Nigeria's mortgage finance system.
The initiative also provides Nigerians abroad with a regulated mechanism for acquiring property, addressing longstanding concerns around fraudulent land transactions, project delivery risks and limited access to affordable mortgage products from overseas.
Supporting the Federal Government's housing agenda
The launch aligns with the Federal Government's broader efforts to expand access to mortgage finance and increase private investment in the housing sector.
In recent months, FMBN has introduced several new mortgage products targeting different categories of borrowers, including non-interest mortgage financing, rent assistance loans and home renovation loans. The addition of the Diaspora NHF Mortgage Loan further diversifies the bank's product portfolio while supporting the government's objective of reducing Nigeria's housing deficit through innovative financing solutions.
Industry stakeholders have consistently identified access to affordable long-term finance as one of the biggest constraints to housing delivery. By extending NHF-backed mortgage products to Nigerians abroad, FMBN hopes to mobilise additional capital that can support residential construction and deepen the country's mortgage market.
What the scheme offers
According to the programme framework, participants will be able to:
Register for the National Housing Fund while living abroad.
Make monthly NHF contributions electronically.
Apply for mortgage financing through accredited Primary Mortgage Banks after meeting contribution requirements.
Access mortgage loans of up to ₦50 million, subject to eligibility.
Purchase approved residential properties in Nigeria through a regulated financing process.
The property financed under the scheme will serve as collateral for the mortgage, while applicants will be required to provide proof of income, residency status in their country of residence and other supporting documentation.
Outlook
The launch of the Diaspora NHF Mortgage Loan represents a significant step in expanding Nigeria's housing finance ecosystem beyond domestic borrowers. If widely adopted, the initiative could unlock new sources of investment for residential development, strengthen mortgage penetration and increase diaspora participation in addressing the country's housing deficit.
For developers, lenders and policymakers, the scheme offers an opportunity to harness diaspora capital through a regulated mortgage framework that supports sustainable housing delivery and long-term sector growth.
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