Nigeria: NHF and the Stolen Billions

15 March 2012
editorial

The National Housing Fund (NHF), like other interventionist administering programmes, has become a subject of abuse and fraudulent practice. Recently, the managing director of the Federal Mortgage Bank of Nigeria (FMBN), Mr Gimba Ya'u Kumo, raised the alarm that those "unscrupulous employers" had milked the fund dry to the tune of N100 billion.

This was at a time when Senate president David Mark literally cursed pension fund managers, accusing them of living off blood money.

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