The National Housing Fund (NHF) is a Federal Government scheme which entitles all Nigerians above the age of 21 years in paid employment to a low interest, government-funded loan. To fund the scheme it is mandatory for all employees in the public sector and self-employed individuals and optional for employees in the private sector who earn the national minimum wage (currently NGN 70,000.00 per month) or more, to contribute 2.5% of their basic monthly salary to the fund through the Federal Mortgage Bank of Nigeria via the Mortgage Banking Association of Nigeria (MBAN) (Business Facilitation Act 2022, ss 45 and 46).
Employers must deduct this amount and pay it over to MBAN within
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Web page updated on 21 Mar 2025 09:46