The initiative, unveiled during a recent press briefing, is designed to resolve long-standing concerns around fraudulent property transactions that have often discouraged overseas Nigerians from investing in real estate back home.
A Strategic Move to Harness Diaspora Contributions
Speaking on the significance of the initiative, NiDCOM Chairperson Mrs. Abike Dabiri-Erewa emphasised the platform’s role in optimising the contributions of Nigerians in the diaspora, who continue to play a vital part in national development.
“The launch of a new platform, in partnership with FirstBank, aims to address common challenges faced by the diaspora, particularly in securing safe and credible housing investments,” Dabiri-Erewa stated.
She noted that the commission is committed to turning the Nigerian diaspora’s goodwill into tangible, sustainable development at home, starting with reliable housing infrastructure.
A Financial and National Asset
Echoing the sentiment, FirstBank Group CEO Olusegun Alebiosu, represented by Abimbola Meshinoye, Head of Brand Strategy and Financial Planning, described the diaspora as a powerful economic force.
“The Nigerian diaspora has become an essential force in our national development journey, contributing over $20 billion in annual remittances and playing a pivotal role in enhancing our international reputation,” Meshinoye said.
FirstBank’s involvement in the platform signals a renewed push for financial institutions to provide more robust and secure services tailored to the diaspora’s needs.
Combating Fraud with Trustworthy Solutions
For many diaspora Nigerians, housing investments have been marred by disappointing experiences—ranging from uncompleted projects to outright scams. According to Abdulrahman Terab, NiDCOM’s Head of Technology, Transfer, Innovation, and Investment, the lack of trustworthy intermediaries has long been a stumbling block.
“Many individuals have faced difficulties after sending money for housing, only to encounter scams, resulting in a loss of resources,” Terab explained.
The Diaspora Home and Abroad platform seeks to resolve this by establishing verified processes for property selection, payment, and ownership, all backed by credible financial and regulatory frameworks.
Tapping into a 70 Million–Strong Diaspora Base
With an estimated 70 million Nigerians living abroad, the potential for diaspora-led investment is enormous. Terab noted that while countries like Senegal and Ghana have made some inroads in attracting diaspora participation, Nigeria remains the top choice for most African diasporas.
“Nigeria is fundamentally the preferred destination for many African diasporas,” he added, citing cultural ties, population size, and economic opportunity.
Encouraging Confidence and Connection
At its core, the NiDCOM-FirstBank collaboration represents more than just a business initiative—it is a call to Nigerians abroad to reconnect with their roots through secure and impactful investments. By ensuring transparency and offering trusted channels for housing acquisition, the platform aims to strengthen the emotional and financial bond between the diaspora and the homeland.
As Nigeria continues to seek innovative pathways to national development, tapping into the resources and trust of its global citizens may prove to be one of its most strategic moves yet.