Our attention has been drawn to a disclaimer issued by Nigerians in Diaspora Commission (NiDCOM) on behalf of the Federal Mortgage Bank of Nigeria (FMBN) labeling the Diaspora Mortgage Pre-Financing (DMPF) program as fraudulent.
It is contradictory for NIDCOM to acknowledge that HXAfrica has submitted an application to FMBN to be part of a proposed Mortgage scheme, meaning that the approval process is ongoing, and at the same time label the project fraudulent. This response seeks to set the record straight and address the baseless claims made in the publication.
Firstly, we want to thank NIDCOM for elevating the Diaspora City in Delta State – Diaspora Mortgage Pre-Financing (DMPF) program to national and international limelight. It is important to highlight that HXafrica is a real estate services firm which has a blockchain-powered platform through their tech arm that presents several solutions to the perennial problems that face the industry, one application of this is in Mortgage through its Mortgage Pre-financing Product which is duly registered in Nigeria. It is a credible entity with the most respected Nigerians serving in the Board. HXAfrica nor Diaspora City would never engage in any fraudulent activity but operates with integrity and transparency. Furthermore, the CEO of Diaspora City Project Hon. (Dr.) Kenneth Chibuogwu Gbandi is a distinguished Nigerian with a track record of exceptional leadership, serving as one of the longest Diaspora leaders with the passage of the NIDCOM Bill under his leadership legacy. Dr. Gbandi has served as a Senatorial candidate in the 2023 General Elections and currently holds the position of National Deputy Chairman (Diaspora Engagement) of the African Democratic Congress (ADC). With over 28 years of experience as a Diaspora leader representing over 20 million Nigerians abroad, he has championed numerous credible projects, including his work representing the African Community in the Hamburg Senate advisory council in Germany.
The Diaspora City project is not new, nor is it the exclusive property of NiDCOM or FMBN. The project in one form or another has been in existence since the establishment of the Nigerians in Diaspora Organization (NIDO) and has undergone several stages of conceptualization. Hon. Gbandi as Diaspora leader was a co-initiator of the Diaspora City initiative Abuja with Professor Al-Amin the former MD of, the Federal Housing Authority (FHA.) Unfortunately, despite its potential, has faced numerous setbacks just like all initiatives before it due to bureaucratic inefficiencies. The proposed Diaspora Mortgage Pre-Financing (DMPF) program, a product of HXAfrica, in collaboration with Diaspora City Management is a Counterpart Funding initiative to take advantage of FMBN mortgage facilities. Its purpose is to provide affordable and inclusive housing solutions for Nigerians in the Diaspora, ensuring they can invest securely in their homeland. Discussions regarding this initiative were thoroughly initiated and ongoing with FMBN and test campaigns were launched to assess its viability among target Diaspora audiences.
It is deeply concerning that NiDCOM rushed to issue a disclaimer on behalf of FMBN without proper due diligence. Such hasty actions undermine the credibility of both institutions and raise questions about NIDCOM true motives of disclaimer. This is not the first time that NiDCOM has prematurely discredited a legitimate Diaspora initiative. For instance, the Commission previously issued a disclaimer against Diaspora City in Delta State, which was later proven to be unfounded. Similarly, the $2.3 billion humanitarian Diaspora Housing initiative, vetted by SFG and Family Home Fund, was also wrongly labeled fraudulent.
It is essential to emphasize that Diaspora projects are not and must not be monopolized by NiDCOM or any other institution. The idea that only a specific body can lead or approve individual-initiated projects for Nigerians abroad is counterproductive and detrimental to national development. Diaspora City in Delta State is a project by group of Nigerians in Diaspora whose time has come, and no amount of baseless disclaimers will derail its vision. Diasporans interested in owning their dream homes or investing in real estate should keep the faith considering the led individuals involved in the project. They are welcome to do personal due diligence and take their investment destiny and the dream of a personal into their hands.
We urge NiDCOM to exercise caution and professionalism in their public communications regarding individual Diaspora projects. They should focus on fostering collaboration and supporting credible initiatives rather than engaging in activities that tarnish the reputation of individuals and organizations working towards national development. No one should be afraid of Diaspora City in Delta State, as it represents a long-overdue opportunity to harness the immense potential of Nigerians in the Diaspora for the benefit of our nation.
Signed,
Joseph Adione (BSc, MSc), SA Political to Hon. Kenneth Gbandi, Office Project Manager Diaspora City Initiative
