The Federal Mortgage Bank of Nigeria (FMBN) has refuted claims linking it to a N40 million mortgage pre-financing scheme purportedly offered by Housing Exchange Africa (HXAfrica).
In a formal statement issued on Saturday, FMBN’s Group Head of Corporate Communications, Virginia Jang, clarified that the bank had neither approved nor partnered with HXAfrica on the alleged mortgage initiative.
Jang addressed the media reports suggesting a collaboration, stating, “The management of the Federal Mortgage Bank of Nigeria wishes to disclaim reports in the media by HXAfrica regarding the purported N40 million mortgage pre-financing scheme, which referred to FMBN as a partner.” She explained that although HXAfrica had applied for engagement with the bank, no formal arrangement had been approved.
The bank reiterated its commitment to supporting Nigerians in the diaspora through its upcoming Diaspora Mortgage Scheme, which is still pending regulatory approval. Jang emphasized that any collaboration with external organizations would be subject to proper vetting and official approval.
Additionally, the National Diaspora Commission (NIDCOM) issued a similar disclaimer regarding the scheme. Both FMBN and NIDCOM urged the public to rely on official channels for updates on the Diaspora Mortgage Scheme once the necessary approvals are in place.
