The House of Representatives on Thursday directed its Housing and Finance, as well as Banking and Currency to conduct a public hearing to ascertain contributors to the National Housing Fund.
The committees are to ascertain the amount they have contributed and to find out whether or not employers remitted the same amount to the fund.
The House also mandated the committees to find out how much has been invested, management of the fund and compliance with the National Housing Act Cap.45.
The committees are to report back to the House in four weeks
Moving the motion, Rep. Innocent Tirsel ( PDP – Plateau ) noted with concern, the ‘’hydra headed’’ housing problems faced by Nigerians working in public and private sectors of the economy.
He recalled that there had been several resolutions and recommendations made in the past toward solving the acute housing problems in Nigeria.
“It was with a view to checkmating, ameliorating and or solving our housing problems that the Federal Housing Fund Act Cap.45 was enacted in 1992.’’
Tirse explained that the law compelled employers in both public and private sectors with? basic salary of N3,000 per annum, to contribute? 2.5 per cent of their salary to the fund.
He, however, expressed worry that where as employers had `religiously' made deductions from employers’ basic salary, ‘’ no visible and tangible result is seen”
The legislator noted that in spite of the development, housing problems had been on the rise with “unquantifiable hardship on Nigerians.''
He claimed that some unscrupulous employers had milked the fund dry to the tune of N100 billion, which he said, had adversely affected the fund.
Speaker Aminu Tambuwal referred the motion to the Committees on Housing and Habitat, Finance and Banking and Currency for further input.?