HX Africa Addresses Controversy Over Diaspora Mortgage Pre-Financing Facility
HX Africa, a leading PropTech company in Nigeria, has responded to a recent disclaimer issued by the Nigerians in Diaspora Commission (NiDCOM) and the Federal Mortgage Bank of Nigeria (FMBN).
The disclaimer referenced the company’s Diaspora Mortgage Pre-Financing (DMPF) Facility, an innovative product designed to help Nigerians at home and abroad build and finance their dream homes.
The company clarified that the facility, developed in collaboration with Nigerians in the diaspora through the Diaspora City project in Delta State, is still in its development phase.
HX Africa emphasized that it has not publicly promoted or marketed the product under the names of NiDCOM or FMBN, contrary to the claims implied in the disclaimer.
In a statement released on Thursday, HX Africa expressed regret over the misunderstanding, noting that a product information sheet used to gather market feedback may have been mistakenly interpreted as promotional material.
The company attributed the disclaimer to an abundance of caution on the part of the two government agencies, stressing that it remains committed to working collaboratively with all stakeholders.
“We choose to believe the disclaimer was made in good faith and for the protection of Nigerians,” HX Africa stated. “We are open to continued discussions with NiDCOM and are already in ongoing discussions with FMBN.”
The company also reaffirmed its dedication to addressing Nigeria’s housing deficit through innovative, affordable, and quality housing solutions.
Despite the controversy, HX Africa said it is encouraged by the support and affirmation it has received from Nigerians.
“As a company passionate about nation-building, we have decided not to respond in a way that could cause division. Instead, we are focusing on solving national problems and contributing to the growth of our dear country,” the statement read.
HX Africa’s Diaspora Mortgage Pre-Financing Facility aims to leverage technology to simplify home financing for Nigerians in the diaspora, making home ownership more accessible.
The company assured the public of its commitment to quality housing, adding, “Together, we will get it right. We owe it to our children.”
The company’s response comes amidst growing public interest in its innovative housing initiatives, as well as questions about the role of NiDCOM and FMBN in the project.
NiDCOM and FMBN have yet to release further clarifications on the matter.
