The Nigerians in Diaspora Commission has partnered with FirstBank to facilitate diaspora banking services for Nigerians abroad. The partnership led to the launch of the Diaspora Home and Abroad platform, designed to provide Nigerians living abroad with safe, reliable, and accessible housing options.

The Chairman of NiDCOM, Mrs Abike Dabiri-Erewa, emphasised the importance of optimising the contributions of the Nigerian diaspora toward national development, according to a statement on Friday.

“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,” she said.

The platform seeks to prevent fraud when purchasing property, thereby providing peace of mind for those seeking to invest in Nigeria.

The Chief Executive Officer of FirstBank Group, Mr Olusegun Alebiosu, represented by the Head of Brand Strategy and Financial Planning, Ms Abimbola Meshinoye, noted that the Nigerian diaspora has become an essential force in the national development journey.

“The Nigerian diaspora has become an essential force in our national development journey, contributing over $20bn in annual remittances and playing a pivotal role in enhancing our international reputation and deepening socio-economic ties with other nations,” Alebiosu said.

The Head of Technology, Transfer, Innovation, and Investment at NiDCOM, Abdulrahman Terab, noted that the primary challenge for the diaspora has been the lack of reliable platforms for housing access. “Many individuals have faced difficulties after sending money for housing, only to encounter scams, resulting in a loss of resources,” Terab said.

The initiative seeks to facilitate home purchases for Nigerians living abroad and foster confidence in Nigeria’s financial and transaction systems. With a diaspora population of around 70 million, the potential for direct investment is substantial.

Terab compared Nigeria’s appeal to that of other countries, noting that “while Senegal and Ghana have attracted some diaspora members, Nigeria is fundamentally the preferred destination for many African diasporas.”

The partnership between NiDCOM and FirstBank aims to establish a secure and streamlined process for diaspora members, encouraging them to invest back into their home country.