Nidcom boss assures diasporans their special mortgage scheme will be available within three months

NIGERIAN diasporans will be able to start reaping the benefits of the federal government's planned mortgage scheme within the next three months under plans being drawn up by the Nigerians in Diaspora Commission and the Federal Mortgage Bank of Nigeria (FMBN).

Under a plan put together by the Nidcom, diasporans will be allowed  to buy houses in Nigeria at favourable rates. Aimed at facilitating the return of diasporans to the country, the programme will involve allowing them to apply for FMBN mortgages online, using the bank's portal.

Yesterday, Hon Abike Dabiri-Erewa, the Nidcom chair, met with the new FMBN management in Abuja where she assured Nigerians that the diaspora mortgage scheme will be operational within the next three months. At a meeting with Shehu Usman Osidi,  the new FMBN managing director, the two agencies agreed in the next steps to take to get the project up and running.

Welcoming Mr Osidi and his team,  Hon Dabiri-Erewa agreed that an extended three-month test run will be done to avoid lapses on the portal in the long run and enable the new FMBN team to get sufficiently acquainted with the project. In return, Mr Osidi said he remains  confident  that the project will be launched as promised before the second half of the year.

Mr Osidi noted that providing a platform where diaspora Nigerians can access funding facilities for housing projects, is one of the pragmatic steps by the federal government to recognise them as key players in economic sustainability. He further said that having this platform will result in job creation and a high patronage in Made-in-Nigeria products and services which will bolster the country's gross domestic product.

According to the new FMBN boss, although plans have been in place for the launch before the first quarter of 2024, he agreed  to have  more test-runs done on the platform to ensure a seamless and user-friendly portal, for the next three months. To that effect, he presented an amended draft of the memorandum of understanding, while stating that a six-man technical party, consisting of  three members each from FMBN and Nidcom will spearhead the conclusion of the project.

Mr. Osidi also commended the Nidcom chair for building pragmatic relations with FMBN and said he hoped for future and stronger partnerships. Nigeria's Diaspora Mortgage Housing Scheme is targeted at diasporans with a view to enabling them become home owners in the country and also create investment opportunities for themselves and other Nigerians.