Fraud, weak investor safety threaten diaspora investments – NiDCOM

The Nigerians in Diaspora Commission (NiDCOM) has recognized fraudulent funding schemes, unverified funding channels and weak investor safety as main threats to attracting investments from Nigerians dwelling overseas.

The Chairman and Chief Executive Officer of NiDCOM, Abike Dabiri-Erewa, raised the considerations on the opening of the ninth Nigeria Diaspora Investment Summit 2026 in Abuja.

She mentioned the challenges had created a belief deficit that continued to discourage Nigerians within the diaspora from committing their assets to funding alternatives in Nigeria.

The summit, organised in collaboration with the Nigeria Diaspora Summit Initiative, has the theme, “Bridging the Trust Gap: Connecting Diaspora Capital with Credible Home-based Opportunities.”

Dabiri-Erewa mentioned Nigerians dwelling overseas represented a serious financial drive whose monetary assets, experience, expertise and worldwide networks may contribute considerably to the nation’s ambition of constructing a $1tn financial system.

She, nevertheless, warned that persistent considerations about transparency, fraudulent funding schemes and unreliable funding platforms may undermine efforts to mobilise diaspora capital for nationwide growth.

She referred to as for stronger regulatory safeguards, clear funding processes and credible platforms by which Nigerians overseas may independently assess funding alternatives earlier than committing their funds.

Trust deficit threatening diaspora capital

Dabiri-Erewa mentioned restoring confidence amongst Nigerians within the diaspora needs to be handled as a precedence if the nation was to totally harness the funding potential of its residents overseas.

According to her, diaspora traders wanted assurances that their investments could be protected and that they’d have entry to dependable data earlier than making monetary commitments.

She mentioned credible establishments and clear processes have been important to closing the hole between Nigerians overseas and legit funding alternatives at residence.

The NiDCOM boss harassed that Nigerians within the diaspora ought to be capable to spend money on Nigeria with out being uncovered to fraudulent schemes or uncertainty over the safety of their funds.

FMBN seeks stronger funding safeguards

In his keynote tackle, the Managing Director and Chief Executive Officer of the Federal Mortgage Bank of Nigeria (FMBN), Shehu Usman Osidi, mentioned the nation should transfer past merely interesting to Nigerians overseas to speculate.

Osidi mentioned Nigeria wanted to create an atmosphere the place diaspora traders may independently confirm, entry and monitor funding alternatives from their respective places.

He recognized fraudulent property transactions, disputed land titles, deserted tasks, unfulfilled contractual obligations and mismanagement of funding funds as a few of the points eroding confidence amongst diaspora traders.

The FMBN chief government referred to as for stronger collaboration between authorities companies, regulators and private-sector operators to advertise transparency and make sure that Nigerians overseas have been adequately protected when investing within the nation.

He mentioned the accountability for rebuilding belief mustn’t relaxation on one establishment alone, including that efficient cooperation amongst related stakeholders was required to create a safer funding atmosphere.

National Diaspora Policy

Osidi mentioned the Federal Government had taken steps to strengthen engagement with Nigerians overseas by the institution of NiDCOM and the adoption of the National Diaspora Policy.

According to him, the coverage gives a framework for mobilising diaspora assets by funding, commerce, entrepreneurship, public-private partnerships and information switch.

He additionally cited ongoing reforms beneath President Bola Tinubu’s administration, significantly initiatives being pursued by the Presidential Enabling Business Environment Council, chaired by Vice-President Kashim Shettima.

Osidi mentioned such reforms have been vital in bettering the convenience of doing enterprise and making a extra engaging atmosphere for Nigerians overseas and different traders.

FMBN launches diaspora mortgage product

Speaking on efforts to handle challenges within the housing sector, Osidi disclosed that FMBN had launched the National Housing Fund Diaspora Mortgage Product.

He mentioned the product was launched in London on August 7, 2026, to handle a few of the difficulties Nigerians dwelling overseas face in accessing mortgage amenities and buying property in Nigeria.

According to him, the initiative was designed to supply a structured pathway for Nigerians overseas to take part within the nation’s housing market whereas accessing mortgage financing.

He added that the financial institution had established a devoted Global Business Strategic Unit to coordinate its diaspora operations and enhance buyer engagement and repair supply.

Under the mortgage scheme, eligible Nigerians aged between 18 and 70 years dwelling overseas could make month-to-month contributions of $100, $200 or $300 beneath the Basic, Classic and Premium classes respectively.

Osidi, nevertheless, harassed that offering mortgage amenities alone wouldn’t resolve the belief deficit confronting diaspora traders.

He mentioned collaboration with regulators, state governments, property builders and mortgage establishments remained essential to make sure the authenticity of property titles, high quality development and well timed completion of tasks.

According to him, traders will need to have confidence that properties they pay for exist, have legitimate titles and shall be delivered based on agreed contractual phrases.

2026 summit prepares for 2027 anniversary

Earlier, the Chairman of the Summit Organising Committee and Coordinator of the Nigeria Diaspora Summit Initiative, Mobolaji Lewis, mentioned the 2026 digital engagement was organised to maintain discussions on diaspora funding regardless of the choice to scale down the bodily summit due to the nationwide election marketing campaign season.

Lewis mentioned the engagement was geared toward offering potential traders with sensible data on the best way to establish, confirm and assess credible funding alternatives in Nigeria.

He mentioned the summit would additionally create a platform for stakeholders to debate the challenges confronting diaspora traders and establish sensible measures for rebuilding confidence.

Lewis added that the digital engagement would lay the groundwork for the tenth anniversary version of the Nigeria Diaspora Investment Summit scheduled for 2027.

He mentioned sustained engagement with Nigerians overseas remained essential to unlocking diaspora capital and experience for financial growth, including that addressing fraud and weak investor safety could be crucial to attaining that goal.