N40m mortgage scheme: FMBN denies partnership with HXAfrica

The Federal Mortgage Bank of Nigeria (FMBN) has dissociated itself from claims linking it to a N40 million mortgage pre-financing scheme promoted by Housing Exchange Africa (HXAfrica).

FMBN’s Group Head of Corporate Communications, Virginia Jang, clarified in an official disclaimer that the bank has no formal partnership or approval arrangement with HXAfrica concerning the alleged scheme.

“The management of the Federal Mortgage Bank of Nigeria wishes to disclaim reports in the media by HXAfrica (Housing Exchange Africa) on a purported N40 million mortgage pre-financing scheme, which referred to FMBN as a partner,” Jang stated. She further explained that while HXAfrica had applied for engagement with the bank, no approvals had been granted, and no formal agreements had been finalised.

Jang emphasised that FMBN remains committed to advancing housing initiatives, including the forthcoming Diaspora Mortgage Scheme, which is being developed in collaboration with the National Diaspora Commission (NIDCOM).

“While the FMBN and NIDCOM remain committed to the roll-out of the Diaspora Mortgage Scheme after obtaining the necessary regulatory approvals, we will endeavour to provide official information and updates on our respective websites and social media handles to prevent the public from being misled,” she added.

The statement also revealed that NIDCOM had issued a similar disclaimer regarding the HXAfrica scheme, urging the public to be cautious of unverified claims.

FMBN assured citizens that details of the official Diaspora Mortgage Scheme would be communicated through authorised channels once regulatory approvals are secured.

The bank reiterated its dedication to delivering credible housing solutions while encouraging the public to rely only on updates from its verified platforms.