FMBN to launch diaspora housing scheme in partnership with NiDCOM

The Federal Mortgage Bank (FMBN) has announced it is set to launch a diaspora housing scheme, in partnership with the Nigerian in Diaspora Commission (NiDCOM).

This was disclosed in a meeting between the Chairman of NiDCOM Mrs Abike Dabiri-Erewa and the FMBN’s Managing Director, Mr Madu Hamman in Abuja on Tuesday.

The housing scheme will enable Nigerians in the diaspora own homes in Nigeria without relying on middlemen builders.

What they are saying

Mrs Dabiri-Erewa stated that NiDCOM had reached its final preparatory stage of the housing scheme programme for Nigerians in the diaspora to benefit from.

“The partnership with the FMBN would help in cutting off any middleman that would pose any challenge to Nigerians Diaspora that wish to own a home in Nigeria,” she said, citing high remittances by Nigerians in diaspora, which could fund such schemes.

“We have created the housing scheme platform where we now have about 1,700 interested diasporans wanting to enrol.

“So, where we are now is to commence the launch which was delayed by the handing over of the new Management team of the FMBN in March,“ she added.

MD of FMBN, Mr Hamman said the delay in launching the scheme was due to the change in leadership at the bank.

“This platform will be of immense value to Nigerians both home and in the Diaspora. Before the end of May, we will have a date for the launch.

“The committees set for the arrangement will begin work to expedite the launch and then the venue and other logistics with the approval will be communicated at the end of the month,” he said.

In case you missed it

  • Nairametrics reported recently that the Federal Mortgage Bank of Nigeria (FMBN) revealed that between 1992 and 2022, the sum of N394.575 billion has been disbursed to beneficiaries of the National Housing Fund.
  • We also reported that the outgoing Managing Director, Mr Ahmed Dangiwa stated that the bank mobilised N294.1billion in additional contributions to the NHF scheme, at an average of N58.8 billion per annum.

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