…To Address Multiple Petitions, Review Performance
The House of Representatives Committee on Housing and Habitat has summoned the Managing Director and management team of the MOFI Real Estate Investment Fund (MREIF) as it commences a comprehensive probe of the housing initiative on Tuesday, June 2.
MREIF, a flagship initiative of President Bola Ahmed Tinubu’s administration, was established to expand access to affordable home ownership for Nigerians through innovative housing finance mechanisms.
Chairman of the Committee, Hon. Abdulmumin Jibrin, said the investigation is aimed at ensuring that the administration, operations and performance of the fund align with the objectives and expectations of the President and the Nigerian people.
According to Jibrin, the Committee will undertake a thorough review of MREIF’s activities, implementation framework, funding structure and overall performance since its establishment.
He added that the lawmakers would also consider and address multiple petitions received by the Committee concerning the fund’s operations.
“The Committee is committed to ensuring transparency, accountability and efficiency in the management of initiatives designed to provide affordable housing for Nigerians,” Jibrin stated.
He disclosed that the Managing Director and the entire management team of MREIF have been directed to appear before the Committee during the investigative session and provide relevant documents and explanations regarding the fund’s activities.
The probe is expected to examine the extent to which the fund has delivered on its mandate of bridging Nigeria’s housing deficit and making home ownership more accessible to citizens.
Stakeholders within the housing sector are expected to closely monitor the proceedings as the Committee seeks to strengthen oversight of one of the Federal Government’s key housing interventions.