FG launches N100m diaspora mortgage loan for Nigerians abroad

The Federal Mortgage Bank of Nigeria has launched the National Housing Fund Diaspora Mortgage Loan, giving Nigerians living abroad access to up to N100 million in housing finance without travelling home. The product was unveiled in London on Friday, August 7, 2026.

Eligible Nigerians in the diaspora can register under the NHF scheme, complete their Know Your Customer requirements digitally, make contributions remotely, and apply for mortgage financing from abroad. The loan carries a 9% annual interest rate with a maximum repayment period of 10 years.

What the loan offers

Eligible contributors can access up to N100 million in mortgage financing under the diaspora product. The Federal Mortgage Bank of Nigeria said the final amount available to each applicant will depend on affordability and other applicable requirements.

The facility is designed to provide a formal institutional channel for Nigerians abroad who want to own or invest in residential property in Nigeria. It also aims to address common challenges in the diaspora property market, including fraudulent transactions, abandoned projects, unreliable intermediaries and inadequate financing arrangements.

How it works

Interested Nigerians living abroad are required to register under the National Housing Fund scheme to participate. The process is fully remote, allowing applicants to complete KYC digitally and make NHF contributions without travelling to Nigeria.

FMBN Managing Director and Chief Executive Officer, Shehu Usman Osidi, said the product was designed to make it easier for Nigerians abroad to participate in the country's housing finance system.

Officials speak on the launch

Minister of Housing and Urban Development, Engr. Dr. Muttaqha Rabe Darma, was represented at the launch by Minister of State for Housing and Urban Development, Hon. Yusuf Ata.

Ata said many Nigerians abroad had long wanted to own homes in Nigeria but faced challenges such as fraudulent property deals and unreliable intermediaries. He said the new mortgage product was designed to restore confidence by providing credible institutions, transparent processes and secure financing.

“The NHF Diaspora Mortgage Loan represents the Federal Government’s commitment to restoring confidence through credible institutions, transparent processes, and secure financing,” he said.

He urged Nigerians abroad to take advantage of the opportunity, saying: “Register. Contribute. Participate. Invest. Own your home.”

Osidi described the initiative as more than a homeownership product, calling it part of a broader national housing finance strategy. He said the scheme could stimulate residential construction, support property developers, create jobs, deepen mortgage activity 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,” he said.

What it means for Nigeria

If the product gains traction, diaspora remittances could increasingly flow into formal mortgage financing and real estate development. That would help strengthen the housing market, support local construction jobs and improve foreign exchange inflows at a time when Nigeria needs more investment from its citizens abroad.