• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, August 26, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Shun Loan Defaulters, Fraudulent Developers In Housing Projects, FG Urged

by Jonathan Nda-Isaiah
9 months ago
in 2023 Elections, News, North Central, North East, North West, South East, South South, South West
Share on WhatsAppShare on FacebookShare on XTelegram

The Housing Development Advocacy Network (HDAN) has urged the Ministry of Finance Incorporated (MOFI) to prioritise transparency and professionalism in its housing initiatives, cautioning against partnerships with loan defaulters and fraudulent developers.

Advertisement

The advice was given during HDAN’s recent visit to MOFI, where the network expressed confidence in the Ministry’s readiness to address Nigeria’s housing deficit.

HDAN commended the federal government for its N250 million investment in tackling housing challenges, particularly through innovative financing mechanisms.

The organisation praised MOFI’s plans to leverage the capital market for funding large-scale housing projects, describing the approach as a long-overdue solution to the sector’s persistent challenges.

“We are happy that MOFI is ready to raise money from the capital market, which is one area that has not been tapped in Nigeria.

RELATED

Coup Calls Blamed On Criminals Losing Ground To Military

We Must Invest In Cyber Defence, Artificial Intelligence, Indigenous Military Technology – CDS

13 minutes ago
JUST-IN-: Protesters Set Palace, LG Secretariat Ablaze In Benue

Security Summit Seeks End To Killings In Benue

15 minutes ago
ADVERTISEMENT

We are hopeful that from 2025, the sector will witness significant development in financing affordable housing and mortgages,” HDAN stated.

Despite its optimism, HDAN cautioned MOFI to learn from previous government housing experiments.

“Deal only with professionals and estate developers with excellent records of delivery and performance. Those with loan defaulting records must be totally avoided,” the network warned.

ADVERTISEMENT

The executive director of HDAN, Festus Adebayo, emphasised the importance of collaboration with credible stakeholders to ensure the success of President Bola Ahmed Tinubu’s one million homes Initiative.

“We are pleased to observe that the Mortgage Bankers Association is already supporting MOFI. We call on honest estate developers to rally behind this transformative idea,” he said

Former chairman of the Federal Government Reform Committee on Land, Dr. Ugochukwu Chime,  highlighted the critical issue of land titling, describing it as a significant barrier to housing fund accessibility.

Similarly, Emmanuel Akinwumi, another stakeholder at the meeting, urged the government to review outdated housing and mortgage laws to enhance sector performance and support new initiatives.

MOFI’s plans include collaboration with key agencies such as Family Homes Funds Ltd. and the Federal Mortgage Bank of Nigeria.

The Ministry also pledged to support Primary Mortgage Institutions (PMIs) to improve their operational capacity in meeting the demand for affordable housing.

CEO of MOFI, Dr. Armstrong Takang, unveiled the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF) as a cornerstone of the housing initiative.

The fund aims to integrate pension resources and other financial tools to provide affordable mortgage options, particularly for pension account holders.

“The MREIF will operate as a market-driven framework, fostering transparency and efficiency. This will strengthen the mortgage market and create sustainable pathways to homeownership,” Takang stated.

Key financial experts, including Dr. Oluwatoyin Madein, Accountant General of the Federation, and executives like Wale Odutola of ARM Pensions and Funmi Ekundayo of STC Trustees, have been engaged to ensure the fund’s success.

Their expertise will shape its structure and deployment, broadening homeownership opportunities across Nigeria.

HDAN expressed optimism about the initiative but reiterated its call for strict oversight to eliminate fraudulent practices.

“Transparency, professionalism, and collaboration with credible partners will determine the success of this effort,” the network concluded.

With the federal government, MOFI, and other key stakeholders working in unison, HDAN believes Nigeria is poised for a significant transformation in its housing sector.

 

 


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


SendShare10170Tweet6356Share
ADVERTISEMENT
Previous Post

Zenith Bank’s Hackathon Finalists Receive N77.5m Cash Prize

Next Post

Adebayo Blames Hardship On Lapse In Governance

Jonathan Nda-Isaiah

Jonathan Nda-Isaiah

You May Like

Coup Calls Blamed On Criminals Losing Ground To Military
News

We Must Invest In Cyber Defence, Artificial Intelligence, Indigenous Military Technology – CDS

2025/08/26
JUST-IN-: Protesters Set Palace, LG Secretariat Ablaze In Benue
News

Security Summit Seeks End To Killings In Benue

2025/08/26
Cassava Key To Doubling Gombe’s Agricultural Yield — Gov Inuwa
News

Gombe Gov Signs Bill Creating 13 LCDA

2025/08/26
PremiumTrust Bank Reassures Stakeholders Of Strong Performance, Profitability
Business

PremiumTrust Bank Meets N200bn Capital Requirement For National Commercial Banks; Reinforcing Its Leadership As Nigeria’s Fastest-Growing Bank

2025/08/26
Flood Alert: Environmentalist Urges Proactive Actions
News

FG Issues Fresh Flood Alert To 9 Northern States

2025/08/26
Ag COAS Investigates Video Of Major General, Orderly Brutalising Motorist
News

We’ll Do More To Secure Katsina – COAS

2025/08/26
Leadership Conference advertisement

LATEST

We Must Invest In Cyber Defence, Artificial Intelligence, Indigenous Military Technology – CDS

Security Summit Seeks End To Killings In Benue

Gombe Gov Signs Bill Creating 13 LCDA

PremiumTrust Bank Meets N200bn Capital Requirement For National Commercial Banks; Reinforcing Its Leadership As Nigeria’s Fastest-Growing Bank

FG Issues Fresh Flood Alert To 9 Northern States

We’ll Do More To Secure Katsina – COAS

Parties Accept Mediation In Abia Land Dispute

PDP’s Zoning Of Presidential Ticket To South Sparks Comments

Oil Theft Nearly 100% Eliminated, Says NNPCL GCEO

FG Signs BASA Agreement For Direct Flights To Brazil

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.