The Nigerians in Diaspora Commission (NiDCOM) and the Federal Mortgage Bank of Nigeria (FMBN) have assured Nigerians in the Diaspora that the diaspora mortgage scheme will become operational in the next three months.
This assurance was given during a strategic meeting between the Chairman/CEO, NiDCOM, Dr. Abike Dabiri-Erewa, and the new Managing Director and Chief Executive, FMBN, Mr. Shehu Usman Osidi, in Abuja, Nigeria.
The meeting drew out the 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 NiDCOM Chairman/CEO agreed with the MD of FMBN, 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 to get sufficiently acquainted with the project.
The MD FMBN 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 taken by the Federal Government in recognition of the Diaspora’s efforts for the country as key players in economic sustainability.
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He further said that this platform will result in job creation and a high patronage of Made-in-Nigeria products and services, bolstering Nigeria’s GDP.
Mr. Osidi added that although plans have been in place for the Launch before the first quarter of 2024, more test runs are 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 novel project.
Mr. Osidi commended the NiDCOM Chairman for building pragmatic relations with FMBN and expressed hope for future and stronger partnerships.
The Diaspora Mortgage Housing Scheme is primarily targeted at Nigerians in the Diaspora to become homeowners in their country and create credible investment opportunities for themselves and other Nigerians.
