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Diaspora mortgage scheme operational in next three month



The Diaspora mortgage scheme will become operational in next three months.

This is even as Nigerians in Diaspora Commission (NiDCOM) and the Federal Mortgage Bank of Nigeria (FMBN) harmonised plans towards commencement of the scheme.

The Diaspora Mortgage Housing Scheme is primarily targeted at Nigerians in the Diaspora to become home owners in their country and create credible investment opportunities for themselves and other Nigerians.

Abike Dabiri-Erewa, Chairman/CEO, NiDCOM and the new leadership of the bank, under Mr. Shehu Usman Osidi, the new Managing Director and Chief Executive, FMBN according to a statement by Mr Gabriel Odu, Media, Public Relations and Protocol unit, NIDCOM met in Abuja to perfect the programme.

The meeting, Odu said drew out next steps on the continuity of the Diaspora Mortgage Housing Scheme Project, which had reached an advanced stage before the change in the management of the FMBN.

The statement reads in part: “The NiDCOM Chairman/CEO, agreed with the MD Mr Shehu Usman Osidi that an extended three-month test run will be done to avoid lapses on the portal in the long run and enable the new Head of FMBN gets sufficiently acquainted with the project.

“The new FMBN helmsman is confident that the project will be launched as promised before the second half of the year.

“Also, Mr Osidi noted that providing a platform where Diaspora Nigerians can access funding facilities for housing projects, is one of the pragmatic steps from the Federal Government in recognition of the Diaspora’s efforts to the country, as key players in economic sustainability.

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“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 Nigeria’s GDP.

“The new FMBN Chief Executive stated that though 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, FMB boss presented an amended draft of the Memorandum of agreement while stating that a six-man technical party, consisting of three members each from FMBN and NiDCOM, will spearhead the conclusion of the novel project.

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