FMBN Launches Diaspora Mortgage Loan in London

On Friday, the Federal Mortgage Bank of Nigeria (FMBN) launched its National Housing Fund (NHF) Diaspora Mortgage Loan in London, providing a secure pathway for Nigerians living abroad to own homes and invest in Nigeria's housing sector. The event featured Engr.

Dr. Muttaqha Rabe Darma, Minister of Housing and Urban Development, represented by Hon.

Yusuf Ata, Minister of State for Housing and Urban Development. Other attendees included Ambassador Amin Dalhatu, the Nigerian High Commissioner to the UK, and various stakeholders from the housing and mortgage finance sectors.

The Minister highlighted the initiative as a significant step in strengthening ties between Nigeria and its diaspora, addressing challenges like fraudulent transactions and inadequate financing. He encouraged Nigerians abroad to register and invest in the new mortgage product.

FMBN's Managing Director, Shehu Usman Osidi, acknowledged President Bola Ahmed Tinubu's commitment to affordable housing and praised collaborative efforts in developing this product, marking a new chapter in Nigeria's housing finance landscape.