FMBN to launch Diaspora NHF mortgage loan for Nigerians abroad on August 7

The Federal Mortgage Bank of Nigeria (FMBN) will launch its Diaspora National Housing Fund (NHF) Mortgage Loan for eligible Nigerians living and working abroad on August 7, 2026, in London, United Kingdom.

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 on Monday by the bank’s Group Head of Corporate Communications, Joe Abuku.

The mortgage product is designed to provide Nigerians in the diaspora with a safe, transparent, and sustainable pathway to own homes in Nigeria while strengthening their economic and emotional ties to the country.

What they are saying

Osidi said the launch marks a major milestone in FMBN’s efforts to expand access to affordable housing finance for Nigerians regardless of where they reside.

He noted that the initiative fulfills the bank’s commitment to providing a trusted and credible platform through which Nigerians abroad can confidently pursue homeownership in Nigeria.

• “The Managing Director/Chief Executive of the Federal Mortgage Bank of Nigeria (FMBN), Shehu Usman Osidi, has announced that the Bank will officially launch its Diaspora NHF Mortgage Loan on August 7, 2026, in London, United Kingdom, marking a major milestone in extending affordable housing finance to eligible Nigerians living and working abroad,” the statement read in part.
• Osidi added that the mortgage product would enable eligible Nigerians in the diaspora to invest in homeownership, build long-term wealth, prepare for retirement in Nigeria, and contribute to the development of the country’s housing market.

He said the initiative is also expected to stimulate housing construction, create jobs, deepen mortgage penetration, promote greater formalization of housing transactions, strengthen confidence in Nigeria’s mortgage system, and attract more diaspora investment into the economy.

More insights

President Bola Tinubu, represented by the Secretary to the Government of the Federation, Senator George Akume, reiterated the Federal Government’s commitment to harnessing the expertise and resources of Nigerians in the diaspora to drive national development.

• Speaking on the event’s theme, which focused on strengthening Nigeria’s health sector through diaspora expertise, the President outlined key initiatives aimed at deepening diaspora engagement.
• The government will institutionalize the Diaspora Health Impact Initiative.
• It will expand diaspora medical missions and strengthen partnerships between diaspora professionals and Nigerian teaching hospitals.
• The administration plans to leverage telemedicine, encourage diaspora-led investments in hospitals and research centers, and introduce incentives for medical professionals abroad willing to return home to practice or invest.

NiDCOM Chairman and Chief Executive Officer, Abike Dabiri-Erewa, commended FMBN’s forthcoming Diaspora NHF Mortgage Loan, describing it as a significant step toward making affordable homeownership more accessible to Nigerians living abroad.

Dabiri-Erewa also highlighted NiDCOM’s ongoing efforts to protect the welfare of Nigerians overseas, facilitate humanitarian interventions, promote diaspora investment and remittances, and advance initiatives such as the proposed Diaspora Investment Fund, the National Diaspora Health Corps, and advocacy for diaspora voting.

Get up to speed

The Minister of Housing and Urban Development, Engr. Muttaqha Rabe Darma, recently announced measures to expand access to mortgage finance through the Federal Mortgage Bank of Nigeria. The reforms are expected to strengthen mortgage accessibility and increase homeownership opportunities for Nigerians.

• Mortgage disbursements will be increased, while the mortgage loan ceiling will rise to N85 million.
• FMBN is expected to facilitate at least 2,000 mortgages annually.
• National Housing Fund contributors will be able to access up to 25% of their Retirement Savings Accounts (RSA) as equity for homeownership.

The measures form part of the Federal Government’s broader efforts to improve access to affordable housing finance and deepen mortgage penetration across the country.

What you should know

The National Housing Fund (NHF) is Nigeria’s statutory housing finance scheme established to make mortgage loans more accessible and affordable for contributors.

• FMBN recorded a historic N152.4 billion in NHF collections in 2025, representing a 48% increase from the N103 billion generated in 2024.
• NHF refunds rose to N15.6 billion in 2025, benefiting 55,068 contributors, compared with N14.4 billion paid to 44,333 beneficiaries in 2024 and N13.2 billion paid to 40,426 beneficiaries in 2023.
• Loan approvals increased to N71.5 billion in 2024 from N39.7 billion in 2023, while the bank posted an operational surplus of N11.58 billion in its 2024 management accounts, its first in more than 30 years.

In 2024, FMBN registered 658 employer organisations and 178,619 employees under the NHF scheme, compared with 556 employers and 113,577 employees in 2023.

Osidi said the sustained improvement in collections, refunds, and loan approvals reflects ongoing reforms aimed at improving operational efficiency, reducing turnaround times, and expanding access to affordable housing finance for Nigerians.