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HDAN protests 40% housing fund withdrawal

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By Okunloye Abiodun

Money contributed by Nigerian workers has been withdrawn by the government.

The Federal Government of Nigeria has been accused by the Housing Development Advocacy Network (HDAN) of illegally taking 40 percent of the National Housing Fund (NHF) that was initially contributed by workers. Festus Adebayo, the director of HDAN, revealed this information in an interview with reporters in Abuja. Adebayo said that the NHF, which is kept at the Central Bank of Nigeria (CBN), is intended to make contributions to good living places, but he lamented that the government, whose duty it is to defend the rights of the people, has changed the narrative.

According to him, the federal government has until the end of the month to reimburse all deductions or risk lawsuits from HDAN. They are making these claims in an effort to expose wrongdoing on the part of the government. They battled for NHF to be successful, and they supported their sacrifice. Nothing that the government will do will persuade an employee to stop contributing to the National Housing Fund, but we’ll make sure their funds are never taken without their consent.

NHF is made up of 2.5% of workers’ monthly salary.

HDAN strongly disagrees with the federal government’s decision to remove 40% of the NHF money kept in the CBN’s rental account. An executive order mandated the establishment of the National Housing Fund, to which all citizens of Nigeria are required to pay 2.5% of their monthly salary. Workers with 20 or more years of service are ineligible for this fund. There has been a lot of work put into getting a lot of states engaged, but according to the information you have, the federal government of Nigeria is already deducting 40% of the fund.

The protection of citizens and their possessions are, in their view, the government’s most important function. The only organization in the country is the government that is able to offer homes at a price that is reasonable given the current condition in the country, in which the cost of construction materials and other items have increased. The group lamented that the government of Nigeria, which is responsible for providing social housing, should not be taking 40% of the money that low-income employees in the country pay into a housing fund.

Government has failed in its duty of protecting the people – Adebayo.

Adebayo slammed the government led by President Muhammadu Buhari for ignoring its main job of protecting citizens in order to take advantage of them. He said that people usually look to it for comfort. He said that what people anticipate from the government is a strategy for providing low-income individuals homes, not a cunning plan to exploit money from them. This is not acceptable. According to him, HDAN has solid information that the money was borrowed to finance infrastructure development.

They were informed that the government collected most of the pension funds for infrastructure. He noted that their NHF funds are for people who want to acquire houses rather than for borrowing. Adebayo said it’s hard to estimate the fund’s total withdrawals because those in the know are on the run. He said 40% is debited, but the people who should pay the amount back are yet to respond. They recently reported that they withdrew 45% but later called to tell them that it is 40%.

All government agencies were ordered to have an account with CBN.

Therefore, the organization has requested that the government repay the Federal Mortgage Bank so that it may fulfil its role in ensuring that these individuals have access to housing through the National Housing Fund. The NHF was kept in various Money Deposit Banks (MDBs) until the federal government mandated that all government agencies have Central Bank of Nigeria accounts. Because of this, the CBN is currently in charge of that money. However, the government should refrain from borrowing or taking it as the money’s objective is so important. The individuals who contribute to it are struggling and need government assistance.


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Ask Nigeria
Admin
1 year ago

HDAN protests 40% housing fund withdrawal – Money contributed by Nigerian workers has been withdrawn by the government. – Express your point of view.

Adeolastan
Adeolastan
Member
1 year ago

It is very sad to be hearing this type of information.A government worker which collect nineteen thousand naira as minimum wage every month and contributed money with the hope of getting cover on his/her head later in life,wake up one day and someone announced that all the contribution in no where to be found again.This is a very big shame.

jdpumping
Member
1 year ago

Nigeria government can’t just seem to amaze me with news one gets from them daily imagine money deducted from workers salary for housing scheme been removed by the government without fulfilling it’s purpose.

Abusi
Abusi
Member
1 year ago

I don’t understand how and why the government will be taking funds from it’s people on housing projects which can be free. The government is just non existent to societal issues and that’s appalling.

Tolaniiii
Tolaniiii
Member
1 year ago

In lieu of loans, the National Housing Fund provides grants to those who are interested in home ownership.

Bola12
Bola12
Member
1 year ago

As a result of the flight of the insiders, it is difficult to predict how much money has been taken out of the fund. He stated 40% has been deducted, but those responsible for making the repayment have not yet stepped forward.

Christiana
Christiana
Member
1 year ago

People are looking to the government for a plan that will help them obtain housing, not a devious scheme to steal money from those with modest incomes. This cannot be tolerated in any way.

Tonerol10
Tonerol10
Member
1 year ago

HDAN protests 40% housing fund withdrawal. Imagine this Nigeria government, they are not keeping to their promises.

Nwachukwu Kingsley
Nwachukwu Kingsley
Member
1 year ago

Housing Development Advocacy Network (HDAN) alleges that the Federal Government of Nigeria unjustly appropriated 40% of the National Housing Fund that was previously provided by workers.

Godsewill Ifeanyi
Godsewill Ifeanyi
Member
1 year ago

It is the goal of the National Housing Fund (NHF), which is housed at the Central Bank of Nigeria (CBN), to make a positive impact on the quality of life in Nigeria.

Hassan Isa
Hassan Isa
Member
1 year ago

In order to avoid legal action from HDAN, the federal government has until the end of the month to repay all of the deductions.

Adesanyaj72
Adesanyaj72
Member
1 year ago

It is unfair for the Nigerian government, which is responsible for establishing social housing, to deduct 40% of the money low-income workers in the country contribute to a housing fund.

Kazeem1
Kazeem1
Member
1 year ago

In order to fulfill its responsibility to guarantee these people access to home through the National Housing Fund, the organization has asked the government for reimbursement from the Federal Mortgage Bank.

Chibuzor
Chibuzor
Member
1 year ago

Their NHF funds are more for those who want to buy properties than they are for people who want to borrow money.

Taiwoo
Taiwoo
Member
1 year ago

When it comes to housing developments, I don’t see how or why the government should be allowed to take money from its citizens.

theApr
theApr
Member
1 year ago

People are looking to the government for a strategy to assist them in obtaining housing, not a cunning plan to defraud those with low means. This is intolerable in every manner. The National Housing Fund offers subsidies to people who are interested in home ownership instead of loans.

Haykaylyon26
Member
1 year ago

This is a very bad new how can the government will be taking funds from it’s people on housing projects without do it purpose this kind of this supposed to be free till else people sweat money were taking and nothing was gain is so sad

Iyanu12345ogg
Iyanu12345ogg
Member
1 year ago

It is unfair for the Nigerian government, which is responsible for establishing social housing, to deduct 40% of the money low-income workers in the country contribute to a housing fund.

Ultra0711
Ultra0711
Member
1 year ago

The public expects the government to provide a strategy to assist individuals on lower incomes in securing homes, not a cunning plot to swindle them out of their savings. The least we can say is that this is intolerable.

Remi1
Remi1
Member
1 year ago

The Nigerian government, which is in charge of constructing social housing, should not be allowed to keep 40% of the money that low-income employees in the nation give to a housing fund.

DimOla
DimOla
Member
1 year ago

This current administration has displayed there incompetency by withdrawaling the HDAN money that was deducted from the civil servants salary meant for housing for the workers.