The Federal Mortgage Bank of Nigeria (FMBN) is courting Nigerians in the diaspora with a mortgage facility of up to N100 million.
FMBN is seeking to convert their financial resources into long-term investment in the country’s housing sector amid growing efforts to bridge the trust gap discouraging diaspora investment.
Shehu Usman Osidi, Managing Director and Chief Executive of FMBN, disclosed the figures while delivering a keynote address at the 9th Nigeria Diaspora Investment Summit (NDIS) 2026 Diaspora Engagement on Tuesday in Abuja.
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Osidi said the early response to the mortgage scheme, launched in London on August 7, 2026, demonstrated the willingness of Nigerians abroad to invest in the domestic housing sector when provided with credible institutions and structured financing arrangements.
The product allows eligible Nigerians living abroad, aged between 18 and 70 years, to make monthly contributions of $100, $200 or $300 under three categories: Basic, Classic and Premium.
Contributors under the Basic category become eligible to apply for mortgage financing after 24 months, while those in the Classic and Premium categories qualify after 18 months and 12 months, respectively.
Eligible contributors can access mortgage loans of up to N100 million, subject to applicable eligibility and affordability requirements, with a 10 per cent equity contribution and repayment periods of up to 10 years.
Osidi said the bank developed the product in response to the challenges confronting Nigerians abroad who want to own homes in the country but face difficulties accessing suitable mortgage arrangements, verifying property transactions and monitoring investments from a distance.
He explained that FMBN’s approach went beyond introducing another mortgage product to establishing institutional and financial structures that would make diaspora participation in the NHF more transparent, accessible and secure.
The bank engaged the Central Bank of Nigeria (CBN) to address regulatory and operational requirements for receiving and managing contributions from Nigerians abroad.
The engagement covered regulatory approval of the product, identification and recommendation of appropriate International Money Transfer Operators (IMTOs) to facilitate contributions through recognised channels, and arrangements for opening a dedicated account with the CBN to receive and warehouse the funds.
FMBN also established a dedicated Global Business Strategic Unit as an independent specialised business unit to oversee its diaspora operations and provide focused customer engagement, institutional oversight and service delivery throughout the contribution and mortgage application process.
The development comes as the Nigerians in Diaspora Commission (NiDCOM) seeks stronger institutional safeguards, transparent investment processes and credible investment opportunities to attract billions of dollars in diaspora capital annually into Nigeria’s economy.
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Abike Dabiri-Erewa, Chairman and Chief Executive of NiDCOM, said Nigeria’s diaspora community possessed enormous financial, professional, entrepreneurial and intellectual resources that could support the country’s ambition of building a $1 trillion economy if properly mobilised and protected.
Dabiri-Erewa said the commission was working to move diaspora engagement beyond remittances and general advocacy towards structured, secure and profitable investment opportunities across key sectors of the economy.
She described Nigerians abroad as a significant economic force whose investment potential extended beyond the billions of dollars they remit annually to support households and families in the country.
According to her, their financial resources, international business networks, professional expertise and entrepreneurial experience could be channelled into productive investments capable of stimulating economic growth, creating jobs and supporting national development.
However, she identified the knowledge gap and trust deficit as major obstacles preventing Nigeria from fully harnessing diaspora investment.
Dabiri-Erewa said many Nigerians abroad had suffered financial losses through informal investment channels, fraudulent schemes, opaque transactions and the absence of reliable information about projects seeking their capital.
She added that inadequate access to verifiable project data and uncertainty about the credibility of investment promoters had discouraged potential investors from committing funds to opportunities in Nigeria.
“Unlocking diaspora capital requires more than passion or patriotism; it demands institutional transparency, robust regulatory safeguards, verified service providers and clear investor protection frameworks,” she said.
The NiDCOM chief executive stressed that restoring confidence required government institutions, regulators, financial institutions and private sector operators to demonstrate transparency and accountability in their dealings with diaspora investors.
She said the 2026 summit was deliberately designed to provide Nigerians abroad with direct access to institutions responsible for regulating the country’s financial, capital and infrastructure markets.
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The two-day engagement focused on capital market opportunities, infrastructure investment and regulatory frameworks, with discussions covering regulated financial instruments, risk disclosures, entry procedures, public-private partnerships, business registration, anti-fraud safeguards and property documentation.
Institutions participating in the engagement included the Securities and Exchange Commission (SEC), CBN, Nigerian Exchange Group (NGX), Ministry of Finance Incorporated (MOFI), Infrastructure Concession Regulatory Commission (ICRC), Nigerian Sovereign Investment Authority (NSIA), Corporate Affairs Commission (CAC), Presidential Enabling Business Environment Council (PEBEC) and Nigerian Export Promotion Council (NEPC).
Dabiri-Erewa urged Nigerians abroad to move away from informal and unverified investment arrangements and take advantage of institutional channels provided by government agencies and regulated financial institutions.
She said the Federal Government, under President Bola Tinubu’s Renewed Hope Agenda, was committed to improving the investment environment and creating opportunities for Nigerians in the diaspora to participate more meaningfully in the country’s economic development.
She also called on participating regulatory agencies, financial institutions and vetted service providers to demonstrate the transparency required to rebuild investor confidence and establish credible channels for diaspora capital.
The NiDCOM boss explained that the 2026 edition was organised in a focused virtual and hybrid format because of the national election campaign season, with the engagement also serving as preparation for the 10th anniversary edition scheduled for 2027.
Osidi identified information asymmetry, weak investment governance, fraudulent property transactions, disputed land titles, abandoned projects and mismanagement of invested funds as major factors discouraging Nigerians abroad from committing their capital to domestic opportunities.
He said many prospective diaspora investors lacked access to independently verified information about investment opportunities, their financial viability and associated risks.
In some cases, investors relied on informal recommendations, family connections and intermediaries whose credentials and interests were difficult to establish, exposing them to potential financial losses.
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He also identified Nigeria’s complex regulatory and administrative environment, including multiple approval requirements, inconsistent documentation processes, taxation and uncertainty surrounding repatriation arrangements, as constraints affecting investment decisions.
Exchange-rate volatility and the cost of international money transfers, he added, further influenced the willingness of Nigerians abroad to invest in the country.
Osidi stressed that investors needed convenient and regulated channels for transferring funds, proper documentation, evidence of receipt and assurances that their money would be deployed strictly for the purposes for which it was provided.
He said the availability of credible mechanisms for accountability, enforcement and dispute resolution was equally important, noting that investors needed to know where to seek assistance when project promoters defaulted, or contractual obligations were not fulfilled.
“Trust is not created by patriotic appeals or investment promotion campaigns. It is built through institutions, transparent processes, regulatory assurance, effective supervision and demonstrable accountability,” he said.
The FMBN managing director said Nigeria’s challenge was no longer simply attracting diaspora capital but establishing the conditions that would make investments accessible, secure and sustainable.
He described Nigerians abroad as an important reservoir of capital, professional expertise, international business networks, technology, innovation and entrepreneurial experience capable of accelerating domestic investment, creating employment and supporting economic diversification.
He said investment opportunities extended beyond real estate to agriculture and agro-processing, manufacturing, infrastructure, renewable energy, transportation, healthcare, pharmaceuticals, education and technology.
Other opportunities included the capital market, government securities and structured investment vehicles.
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Osidi also acknowledged the Federal Government’s efforts to improve the investment climate through the Ease of Doing Business reforms coordinated by PEBEC, chaired by Vice President Kashim Shettima.
He said the reforms, including the Business Facilitation Act 2023, were aimed at removing bureaucratic bottlenecks, simplifying business registration and licensing, improving regulatory transparency and reducing the cost and time associated with doing business in Nigeria.
He highlighted the Nigerian Investment Promotion Commission’s One Stop Investment Centre, which brings together 17 government agencies to facilitate investor services and reduce the difficulties associated with navigating multiple government institutions.
“The ongoing implementation of the National Single Window initiative, alongside reforms in the foreign exchange market, also represented additional steps towards creating a more transparent and predictable investment environment”, he said.
However, he called for sustained implementation of the reforms and deliberate efforts to ensure that Nigerians in the diaspora benefit from the improvements.
He urged stakeholders to establish a coordinated national diaspora investment framework, with NiDCOM providing a central coordination platform and clearly defined responsibilities for ministries, departments and agencies, regulators, financial institutions and private sector operators.
He also proposed a credible national repository of investment-ready opportunities, where projects seeking diaspora capital would undergo due diligence before being presented to prospective investors.
Such a platform, he said, should provide independently verifiable information about project ownership, promoters, costs, funding requirements, expected returns, risks and implementation timelines.
On investor protection, he advocated stronger land administration and title verification systems, effective regulation of property developers and investment intermediaries, transparent contractual arrangements, enforceable project milestones and accessible dispute-resolution mechanisms.
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He further called for deeper collaboration among banks, IMTOs, capital market operators and other regulated institutions to make cross-border transfers more efficient, transparent and affordable.
Technology, he said, should also be deployed to eliminate physical barriers confronting diaspora investors through digital onboarding, electronic documentation, secure payment platforms, online project monitoring and responsive customer support.
He urged state governments to identify bankable projects within their jurisdictions and provide the necessary land, infrastructure, regulatory support and investment information to attract diaspora participation.
According to him, stronger partnerships involving state governments, credible private developers, institutional investors, professional associations and diaspora-owned businesses would help expand investment opportunities beyond Federal Government-led initiatives.
“The ultimate objective should be to create an environment in which a Nigerian living abroad can identify an opportunity, independently verify its credibility, invest through a recognised channel, monitor performance and obtain appropriate redress without being disadvantaged by distance,” he said.
Meanwhile, Mobolaji Lewis, Chairman of the Summit Organising Committee and coordinator of NDIS, called for stronger institutional collaboration, transparent investment processes and effective investor protection mechanisms to attract more capital from Nigerians abroad into the domestic economy.
Lewis said concerns over the credibility of investment opportunities, regulatory procedures, project execution and financial accountability continued to discourage Nigerians in the diaspora from investing in the country.
Speaking at the opening session of the summit, he said the challenge confronting diaspora investment was not necessarily a lack of interest or financial capacity among Nigerians living abroad, but concerns about the transparency and reliability of investment opportunities available in the country.
He said addressing these concerns required moving beyond the promotion of investment opportunities to establishing mechanisms that would enable prospective investors to identify, independently verify and participate in credible projects.
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Lewis noted that the annual summit had evolved into an important platform for connecting Nigerians abroad with domestic investment opportunities, government institutions, financial organisations and other stakeholders.
He explained that the two-day virtual engagement was adopted after organisers decided to scale down the physical summit because of the national election campaign season, stressing that it was important to sustain the momentum of diaspora investment promotion.
The programme, he said, was designed to provide direct access to relevant institutions and experts on investment pathways, project financing, public-private partnerships, regulatory compliance, due diligence, risk management and investor protection.
He said the participation of regulatory agencies and financial institutions was essential because rebuilding investor confidence required a coordinated institutional response.
“No single organisation can independently address all the concerns of prospective investors,” he said.
Lewis urged participating institutions and panellists to make their presentations practical, transparent and responsive to the concerns of Nigerians in the diaspora.
He also encouraged prospective investors to participate actively, ask questions, seek clarification and engage directly with institutions responsible for facilitating and regulating investments in Nigeria.
He said the success of the initiative should not be measured solely by the number of participants or presentations delivered, but by the quality of engagements established, the confidence generated and investment partnerships emerging from the discussions.
The NDSI coordinator added that the 2026 webinar would provide a foundation for the full Nigeria Diaspora Investment Summit in 2027, which will mark the 10th anniversary of the investment platform.
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The 9th NDIS, organised by the Nigeria Diaspora Summit Initiative in collaboration with NiDCOM, was themed, “Bridging the Trust Gap: Connecting Diaspora Capital with Credible Home-Based Opportunities.”
Osidi said FMBN would continue to improve its institutional arrangements and expand access to affordable housing finance through products such as the NHF Diaspora Mortgage Loan.
He maintained that unlocking diaspora investment required collective responsibility, with government providing policy consistency and effective regulation.
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