Nigerians living abroad were offered a clearer route to owning a home back home this week, as the Federal Mortgage Bank of Nigeria (FMBN) used the 9th Nigeria Diaspora Investment Summit (NDIS) in Abuja to promote a mortgage product worth up to N100 million. The two-day summit, which ended on Wednesday, was built around one idea: that Nigerians in the diaspora have the money and the interest to invest, but not enough trust in the systems meant to protect them.
A scaled-down summit with a single theme
The 2026 edition, held on 10 and 11 November, was organised by the Nigerians in Diaspora Commission (NiDCOM) with the Nigeria Diaspora Summit Initiative (NDSI) under the theme “Bridging the Trust Gap: Connecting Diaspora Capital with Credible Home-Based Opportunities”. According to ThisDay and Tribune, it ran in a hybrid format, mostly on Zoom with limited physical attendance at the Shehu Musa Yar’Adua Centre in Abuja.
NiDCOM said the physical event was deliberately reduced because of the ongoing national election campaign season. Organisers described this year’s sessions as groundwork for a full 10th-anniversary summit planned for 2027.
At a pre-summit briefing last week, NiDCOM said Nigeria could attract as much as $100 billion a year in diaspora investment if the financial and professional resources of Nigerians abroad were properly harnessed, ThisDay and AllAfrica reported.
How the FMBN diaspora mortgage works
Delivering a keynote address on Tuesday, FMBN Managing Director Shehu Usman Osidi said early interest in the bank’s Diaspora National Housing Fund (NHF) Mortgage Loan, launched in London on 7 August, showed that Nigerians abroad will invest in housing when the institutions involved are credible, BusinessDay reported.
Under the scheme, eligible Nigerians abroad aged 18 to 70 make monthly contributions in one of three tiers:
- Basic – $100 a month, eligible to apply for a loan after 24 months
- Classic – $200 a month, eligible after 18 months
- Premium – $300 a month, eligible after 12 months
Contributors can then apply for mortgages of up to N100 million, subject to affordability checks, with a 10 per cent equity contribution and repayment over up to 10 years. Reports at the August launch by Nairametrics and Daily Trust put the interest rate at 9 per cent. Applicants do not need to travel to Nigeria to apply.
Osidi said FMBN worked with the Central Bank of Nigeria (CBN) on regulatory approval, on choosing recognised international money transfer operators to carry contributions, and on a dedicated CBN account to hold the funds. The bank has also set up a separate unit to manage its diaspora business.
Why trust remains the sticking point
NiDCOM Chairman Abike Dabiri-Erewa told participants that many Nigerians abroad have lost money through informal channels, fraudulent schemes and projects that could not be verified. “Unlocking diaspora capital requires more than passion or patriotism,” she said, according to BusinessDay, calling for transparent institutions, regulatory safeguards and clear investor protection.
Osidi listed similar obstacles: disputed land titles, fraudulent property deals, abandoned projects, multiple approval requirements, exchange-rate swings and the cost of sending money home. He proposed a national repository of investment-ready projects that have passed due diligence, stronger land-title verification, regulation of property developers and intermediaries, and accessible ways to resolve disputes.
NDSI coordinator Mobolaji Lewis said the problem was not a lack of interest or money among Nigerians abroad but doubts about whether opportunities at home are transparent and reliable.
Regulators in the room
The summit brought diaspora investors face to face with the bodies that regulate Nigeria’s markets. Participants included the Securities and Exchange Commission, the CBN, Nigerian Exchange Group, the Ministry of Finance Incorporated, the Infrastructure Concession Regulatory Commission, the Nigerian Sovereign Investment Authority, the Corporate Affairs Commission, the Presidential Enabling Business Environment Council and the Nigerian Export Promotion Council.
Day one focused on the capital market, including available instruments, how to enter, and safeguards for investors. Day two turned to infrastructure, public-private partnerships, company registration and property documentation.
What happens next
For Nigerians in the UK, US, Canada and elsewhere, the practical message from the summit is to use regulated channels and verify any project before sending money. FMBN says it will keep refining the diaspora mortgage, while NiDCOM and the NDSI are preparing for a larger 10th-anniversary summit in 2027. Whether the push turns interest into large-scale investment will depend on whether the promised safeguards work in practice.
Sources: BusinessDay, ThisDay, Tribune, AllAfrica, Nairametrics, Daily Trust, Leadership.
