The House of Representives will review the obsolete National Housing Fund Scheme Act of 1992 in line with the current economic reality in the country.
The Speaker of the House, Mr. Tajudeen Abbas stated this in Abuja while declaring open the investigative hearing organized by the House Ad-hoc Committee on the Non-remittance of Contributions to the National Housing Fund and Utilization of the Fund from 2011 to date.
Mr. Abbas who was representated by his Deputy, Mr. Benjamin Kalu, said that the Scheme which was designed to ensure that Nigerians have access to affordable housing has become obsolete hence the need for the review.
According to him, “The National Housing Fund, NHF, represents a commitment to addressing one of the most fundamental needs of our citizens–affordable housing. Established by the NHF Act of 1992, this scheme which was designed to ensure that Nigerians have access to affordable housing mandates all employers in both the private and public sectors to contribute 2.5% of their workers’ monthly earnings into this Fund.
He said that the House was alarmed to receive allegations of non-remittance by employers and in other cases, mismanagement and misappropriation of the hard-earned salaries of Nigerian workers, by the administering institution.
Abbas pointed out that it was within this context that the House resolved to investigate the alleged non-remittance to the National Fund and critically review the utilization of the Fund from 2011 to date.
“The allegations of non-remittance are grievous, and we must uncover the truth, in order to hold those responsible accountable, and safeguard the interests of those who have diligently contributed to this Fund”.
He implored the Committee to embark on the investigation with a profound sense of responsibility, “bearing in mind that the National Housing Fund holds the potential to transform the lives of countless hardworking Nigerians by providing them with the opportunity to secure affordable housing”.
He advised the Members of the Committee that as the investigative hearing Commenced they should be guided by principles of fairness, equity, and diligence, saying “Our mission is not only to uncover any irregularities but also to propose solutions that will strengthen the NHF and ensure it serves its intended purpose, while also preventing a reoccurrence of these issues”.
In his opening remarks, the Chairman of the Committee, Datchung Bagos, urged stakeholders to be forthcoming in their presentations and submissions.
Oduyemi Odumade, Edited By Grace Namiji
Written by: Safiya Wada
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