Diasporans remit bn to Nigeria

Diasporans remit $20bn to Nigeria  %Post Title

Diasporans remit $20bn to Nigeria  %Post Title

The Federal Authorities has concluded an association to launch a Diaspora Mortgage Mortgage Scheme for Nigerians residing overseas.

The Managing Director of the Federal Mortgage Financial institution, Hamman Madu, on Tuesday, mentioned the scheme can be launched earlier than the top of the 12 months.

In response to him, it is going to present alternatives for Nigerians residing overseas to personal property within the nation with out essentially coming again house bodily.

Madu spoke on the ongoing three-day fifth Nigeria Diaspora Funding Summit, with the theme, ‘Optimising funding alternatives for nationwide growth.’

He mentioned, “The Federal Mortgage Financial institution of Nigeria has recognised that Nigerians within the diaspora contribute considerably to their host communities and Nigeria economies.

“Cash remitted again house has helped to stabilise our nation.  In response to the Federal Authorities statistics, there are over 20 million Nigerians within the diaspora and the final one 12 months, cash remitted again house is in extra of $20bn.

“You put money into your loved ones, mates and the nation resulting in an enormous financial transformation. It’s in view of the foregoing and to be able to broaden its personal mandate of Federal Mortgage Financial institution of Nigeria, that we developed a nationwide housing fund product for Nigerians within the Diaspora.”

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