House of Representatives has said it will review the National Housing Fund – NHF Act, in line with current realities in the country.
The speaker, Tajudeen Abbas, stated this, on Wednesday, while declaring an investigative hearing organised by House Ad-hoc Committee on the investigation of non-remittance of contributions to National Housing Fund ( NHF) and utilization of the fund from 2011 to date.
Abbas, who was represented by the deputy speaker, Benjamin Kalu, stated that the NHF represents a commitment by the government to address the housing needs of the citizens. However, the speaker noted that NHF Act, which was enacted in 1992 has become obsolete.
According to him, “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. As you are aware, offending sections 20 and 21 of this Act has convicts liable to both fine and imprisonment.
“The House will look into this law which is obsolete now. From 1992 till date calls for a review. There are other issues that the House will inject to make it fit for purpose.
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Source: Sunewsonline