The House of Representatives has mandated that its Committee on Housing and Habitat must investigate the “unnecessary delays and non-refund” of retirees’ contributions to the National Housing Fund (NHF) by both the Federal Mortgage Bank (FMB) and the National Housing Fund.
The committee is also to probe into the activities of the FMB and the NHF “with respect to contributions, remittances from ministries, departments and agencies,” and report back within four weeks for further legislative action.
A member of the House, Eta Mbora, had moved a motion titled ‘Need to investigate the non-refund of contributions to beneficiaries by the National Housing Fund,’ which the lawmakers unanimously adopted in plenary on Tuesday.
Mbora, while moving the motion, noted that the NHF was established to mobilize funds to facilitate the provision of affordable housing for employed Nigerians.
According to him, the core mandate of the NHF is to facilitate the mobilization of funds for the provision of houses for Nigerians at affordable prices, ensure easy access to loan facilities to Nigerians for building, purchasing of improvement of residential houses, provide incentives for capital markets to invest in property development and provide long-term loans to mortgage institutions for lending to contributors to the fund.
