The Federal Mortgage Bank of Nigeria (FMBN) has introduced a N100 million mortgage for Nigerians living abroad.
The new scheme offers eligible Nigerians a chance to buy homes in Nigeria at a 9 per cent annual interest rate.
FMBN unveiled the mortgage product in London on Friday, August 7, 2026.
The scheme targets Nigerians in the diaspora who want to own property in Nigeria through a formal mortgage system.
The new FMBN mortgage allows qualified Nigerians abroad to access up to N100 million.
The loan comes with a 9 per cent interest rate per year.
Applicants can also repay the mortgage over a period of up to 10 years.
However, FMBN will determine the approved amount based on the applicant’s income and repayment ability.
The bank said applicants can begin the process without travelling to Nigeria.
The mortgage scheme also allows Nigerians abroad to join the National Housing Fund (NHF) scheme.
Applicants can complete their registration and Know Your Customer (KYC) requirements online.
They can also make NHF contributions from their countries of residence.
FMBN said the digital process will make it easier for Nigerians abroad to access housing finance.
The bank also wants the scheme to create a safer way for Nigerians abroad to invest in property.
FMBN Managing Director and Chief Executive, Shehu Usman Osidi, said the scheme will expand access to homeownership.
He said it could also support housing construction and create jobs in Nigeria.
The initiative may also help increase mortgage access in the country.
FMBN expects more Nigerians abroad to use the scheme to invest in homes and other residential properties.
The Minister of State for Housing and Urban Development, Yusuf Ata, said the scheme addresses problems faced by Nigerians abroad.
Many Nigerians in the diaspora have faced property fraud and unreliable agents.
Some have also lost money through abandoned housing projects.
The new mortgage scheme provides a regulated channel for property investment.
NiDCOM Chairman and Chief Executive, Abike Dabiri-Erewa, also encouraged Nigerians abroad to use the initiative.
She said the scheme provides another opportunity for Nigerians in the diaspora to invest in the country’s housing sector.
The FMBN N100 million mortgage gives Nigerians abroad another option for buying homes in Nigeria.
The 9 per cent interest rate could make formal mortgage financing more accessible to eligible applicants.
The 10-year repayment period also gives borrowers more time to repay the loan.
With digital registration and remote NHF contributions, applicants can complete key parts of the process from abroad.
FMBN hopes the initiative will increase diaspora investment and strengthen Nigeria’s housing market.
