The Federal Mortgage Bank of Nigeria (FMBN) officially launched the National Housing Fund (NHF) Diaspora Mortgage Loan on Friday, August 7, 2026, in London, United Kingdom. https://share.google/aimode/o8JjFqvMdHuTHZ0ls
This scheme provides a secure and structured way for Nigerians living overseas to finance and purchase residential properties back home.
Key Features of the Loan
- Maximum Loan Limit: Borrowers can access up to ₦100 million in home loans.
- Interest Rate: The facility features a single-digit interest rate of 9%.
- Digital Integration: Applicants can complete their Know-Your-Customer (KYC) requirements digitally, register for the NHF scheme, and make monthly contributions remotely.
- Repayment Plan: The repayment period spans up to 10 years.
Available Options
Diaspora participants can access funding through three main avenues:
- Direct NHF Loans: Traditional mortgage path for purchasing ready-built houses.
- Rent-to-Own: Moving into an FMBN-backed property while paying towards total ownership.
- Individual Construction: Funding to build personal residential properties on owned land.
Why it was Launched
The initiative, spearheaded by FMBN Managing Director Shehu Usman Osidi alongside the Nigerians in Diaspora Commission (NiDCOM), aims to eliminate the issue of third-party fraud. It bypasses reliance on friends or relatives to construct homes by letting individuals deal directly with the apex mortgage bank. The Central Bank of Nigeria (CBN) also co-developed the risk management framework to ensure project credibility and financial sustainability.
If you would like to know more, tell me:
- Your current country of residence
- If you want the step-by-step registration guidelines for the diaspora NHF portal
- Whether you prefer buying a ready-built house or constructing one
AI responses may include mistakes. For financial advice, consult a professional.