Provide Houses for Workers with their NHF deductions Hon. Timehin Adelegbe tells FG ..If You can not build houses for them return their money

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The Member representating Owo/Ose Federal Constituency of Ondo State Honourable Timehin Adelegbe has called on the Federal government to ensure effective utilization of the monthly deductions from Workers Salaries into the  National Housing Fund.

The Law maker was speaking at a hearing by the house of Representatives Adhoc Committee investigating alleged Non-remittance to the National Housing Fund and utilisation of the said fund.

A motion on the floor of the House of Representatives on the 19th of July 2023 had observed that while some Organisations are defaulting in remitting to the National Housing Fund those who are complying are being shortchanged.

Honourable Timehin was passionate about the way and manner the fund is being managed to the detriment of the Nigerian worker who he said their meager salaries are further emaciated as a result of monthly deductions to NHF.

He took on the concerned agencies, particulaly IPPIS and the Federal Mortgage Bank of Nigeria describing the situation as unfair to the workers and vowed that as representative of the Nigerian people the 10th House of Representatives will unravel the quackmire surrounding the system.
” While you collect money from workers and the money they contributed can not even buy them a house or can not even get them a house yet these monies are contributed and giving to private mortgage bank to build houses that they can never buy.

To me it’s fraudulent, you collect money from small small workers of level 7, 3, 4, 5, 2.5 Percent you mop it all together give it to private mortgage bank that will be selling houses for 70, 80 million which worker will buy it.

So it’s better for them if they are unable to buy it return back their money, may be that’s the essence of this National Housing fund, because you are collecting from the poor people and giving to the rich people, It doesn’t make any sense to me.

At the investigative hearing the managing director of the federal mortgage bank of Nigeria Madu Hamman  said the bank has collected a total 591.5 billion Naira from both the formal and informal sectors between 2011 to 2023 while 66.6 billion has been refunded to 444,637 retirees.