The Avenue, a new estate development project in Ogudu, Lagos. It's the dream of Nigerians living abroad to own a home at home/Photo: TheAvenue

Bank offers loans to Nigerians living abroad to build homes in Nigeria

Nigerians in the diaspora have an opportunity to own houses in the country and also participate actively in money and capital markets, thanks to several investment packages rolled out by Ecobank.

Mrs. Olukorede Demola-Adeniyi, Head of Ecobank’s Consumer Banking, has said that the bank is offering mortgage loans to Nigerians living abroad to finance property ownership in the country. She said that the terms and conditions for the loans are flexible and they are easily accessible.

Mrs. Demola-Adeniyi, soaking in Lagos at the weekend, encouraged Nigerian Diasporans to open domiciliary accounts with the bank to access the various opportunities. The packages can also be accessed via Naira accounts.

She declared: “We offer loans for outright purchase of completed properties and refinancing of existing homes. Our financing solutions also provide access to a range of respected property vendors that they can choose from to achieve their desired accommodation. We allow up to 10 years tenor at highly competitive interest rates. However, the borrower must be a legal resident of the country they are applying from. As a bank, we want to eliminate the associated challenges faced by hardworking Nigerians who are interested in having properties of their own at home here.”

Mrs. Demola-Adeniyi added that Ecobank also helps Nigerians in the diaspora with resources for wealth management through investment in money market, capital market, real estate and treasury products at attractive and competitive interest rates on both foreign and  local currencies, stating that the bank offers financial planning advisory including information on stocks, bonds, real estates and insurance products, in addition to helping customers retrieve outstanding dividends and missing shares.

She advised them to open a multi-currency online accounts in Naira, Pound Sterling, US Dollar & EURO, via https://aop.ecobank.com. They can also  download the bank’s award-winning mobile banking app, Ecobank Mobile, which is available in app stores to enjoy real-time access to their accounts from the comfort of their home.

She further stated: “You can download the Rapidtransfer app to send money home and your beneficiary can pick up USD cash at any Ecobank branch nationwide or have it directly credited into  their Ecobank domiciliary account. You can also send money through any of our remittance partners such as Ria and Small World for cash pick up and direct credit.  Other partners such as Western Union and MoneyGram are available for cash pick up only. You can wire funds directly to your foreign currency account through our correspondent bank in USD, GBP and Euro.”

She disclosed that the bank is actively driving the Central Bank of Nigeria’s Naira for Dollar scheme which offers N5 on ever dollar received over the counter or into an account. Customers who wish to receive their funds into their account will get one opened automatically in a seamless manner. She encouraged Nigerians at home to inform their relatives and friends abroad to take advantage of this initiative so that they can earn extra cash on their remittances.

Epa Ogie Eboigbe

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