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AG Mortgage Bank Plc has launched a targeted initiative aimed at making home ownership in Nigeria accessible to diaspora Nigerians.
The Diaspora Home Ownership Scheme is designed to help Nigerians living abroad invest in sustainable, affordable and livable homes in their preferred Nigerian cities.
Commenting on the initiative, the Managing Director/Chief Executive Officer of AG Mortgage Bank Plc, Mr Ngozi Anyogu said, “over 17 million Nigerians live abroad. These Nigerians, motivated by cultural ties and long-term investment goals, represent a significant part of the underserved market in the real estate space in Nigeria. The Nigerian Diaspora population significantly contributes to the Nigerian economy through its huge home remittances, $19.550 million, the highest in Africa in 2023. But beyond money remittances, what next?”
He added, “To help Diasporians maximize return on their remittances on a sustainable basis, the bank had designed targeted products to meet these needs.”
The scheme is particularly focused on helping lower- and medium-income families achieve home ownership, regardless of their country of residence. AG Mortgage Bank was founded as a faith-based institution to serve the needs of a diverse range of stakeholders, including customers, communities, regulators, employees, and shareholders. The bank is a Central Bank of Nigeria-licensed mortgage institution with national accreditation and commenced operations in January 2005, with the Assemblies of God Nigeria as a core investor.
Mr Anyogu explained further, “AGMB Diaspora service offerings are a deliberate extension of the Bank’s ESG Programme by empowering Nigerians in the Diaspora to invest in the home country, supporting development in local communities, enhancing home ownership across demographics, particularly for first-time buyers, and providing mortgages to underserved markets to strengthen community ties.”
AG Mortgage Bank also emphasises wider Environmental, Social, and Governance (ESG) initiatives, including support for eco-friendly real estate projects, environmental sustainability schemes, and community programs in health, education, and financial inclusion.
The bank’s board of directors brings over 200 years of collective experience across sectors such as real estate, finance, manufacturing, law, and advisory services in both local and multinational institutions. AG Mortgage Bank Plc is rated by Augusto & Co. and holds a BBB rating from Data Pro Rating Agencies, reflecting its strong governance and operational standards.
Through the Diaspora Home Ownership Scheme, AG Mortgage Bank said it is positioning itself as a key facilitator for Nigerians abroad to turn their remittances into tangible assets while contributing to national development.
