Nigeria-Mortgage-Bank

Mortgage bank moves to assist Nigerians abroad to own homes

APA-Abuja (Nigeria)

The Federal Mortgage Bank of Nigeria (FMBN) is developing a Diaspora mortgage housing scheme to assist Nigerians living abroad to own homes in Nigeria, the Managing Director, Mr. Ahmed Dangiwa, has said.

Dangiwa told Mrs. Abike Dabiri-Erewa, the Chairman of Nigerians in Diaspora Commission, who paid him a courtesy visit in Abuja on Thursday that the bank was currently managing Nigerians in the Diaspora on mortgage products developed for them.

He said that several presentations had been made on the subject at external engagements attended by the bank, particularly in the UK and the U.S.

He said the bank had received positive responses and visits as a result of some of the engagements.

“The Diaspora Mortgage is a special window developed for Nigerians living abroad to facilitate access to finance for residential housing development at home.

“The steps we took show that we have the interest of Nigerians in Diaspora,” Dangiwa said.

He said that the central focus of the bank’s strategic realignment was to strengthen its partnership and collaborate with stakeholders to promote mutual understanding to achieve the purpose of the National Housing Fund (NHF).

He said that the bank was established to provide affordable mortgages to drive home ownership among Nigerians, particularly low and medium income earners, through the NHF.

Dangiwa said Nigerian workers contributed 2.5 percent of their monthly income to the NHF scheme.

In her remarks, Dabiri-Erewa said the project would make the lives of Nigerians in Diaspora easier by enabling them to acquire their own houses.

She said that it would deal with the major challenges faced by Nigerians in Diaspora as many had been duped by friends and relatives.

She said that Dangiwa had made mortgage attractive as poor Nigerians could now own houses.

Dabiri-Erewa said it was important that something was done urgently to ensure that Nigerians in Diaspora owned houses in the country.

She assured that the staff of the commission would participate in the bank’s mortgage programme.

MM/GIK/APA

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