AG Mortgage Bank Plc has unveiled a new Diaspora Home Ownership Scheme designed to provide Nigerians living abroad with easier, more secure pathways to owning property in the country.
Managing Director/Chief Executive Officer, Ngozi Anyogu, said the initiative responds to a growing demand among Nigerians overseas who, despite contributing significantly to the economy through remittances, remain underserved in the formal housing market.
According to him, more than 17 million Nigerians reside abroad, forming a vast pool of potential investors driven by cultural ties, long-term wealth planning, and a desire to maintain roots at home.
“The Nigerian Diaspora population contributes heavily to the economy through remittances over $19.55 billion in 2023, the highest in Africa. But beyond sending money, what next?” he said.
Anyogu explained that the scheme was developed to help diaspora families channel remittances into sustainable asset ownership. “We have created targeted home-ownership products to ensure Nigerians abroad can own affordable, livable homes in their preferred cities, regardless of where they live,” he said.
He noted that the initiative aligns with the bank’s longstanding mission of supporting lower- and middle-income households, adding that AG Mortgage Bank was established with a faith-based heritage to serve diverse stakeholders, including customers, communities, regulators and shareholders.
The bank is licensed by the Central Bank of Nigeria (CBN) and began operations in January 2005, with Assemblies of God Nigeria as a core investor.
Anyogu further stated that the Diaspora scheme forms a key component of the bank’s Environmental, Social and Governance (ESG) agenda by empowering Nigerians abroad to invest in local housing development, strengthen community ties and expand access to mortgages for first-time buyers and underserved groups.
The bank also maintains several ESG-driven projects across environmental sustainability, eco-friendly housing, health, education and financial inclusion.
AG Mortgage Bank’s board comprises directors with over 200 years of combined experience across real estate, finance, manufacturing, law and corporate advisory services in both local and multinational institutions.
The institution is currently rated by Augusto & Co and holds a BBB rating from DataPro Rating Agency.
