There’s a dispute between the Nigerian Labour Congress (NLC) and the Federal Mortgage Bank of Nigeria concerning the management of the contributory National Housing Fund (NHF). The NHF, established by the NHF Act of 1992, requires both public and private sector employers to make monthly contributions to provide affordable housing.
The NLC expressed dissatisfaction with the fund’s management and threatened to withdraw from it. NLC President Joe Ajaero alleged administrative obstacles led to corruption and voiced concerns at a House of Representatives hearing.
However, the Federal Mortgage Bank of Nigeria, represented by Group Head Mrs. Timan Elayo, countered NLC’s claims. She noted that while the FMBN received numerous NHF applications, funding constraints prevented meeting all requests. She clarified that eligibility criteria were upheld, and a significant number of applications were met within available resources.
The NLC’s National Secretary-General, Chris Onyeka, disagreed with FMBN’s assertion that workers were accessing NHF mortgages. Onyeka accused FMBN of not transparently accounting for the NHF funds, arguing that only a privileged few could access the funds. He emphasized that these funds should be accessible to the contributors without impediments.