The House of Representatives Committee on Housing and Habitat has announced plans to commence a comprehensive investigation into the MOFI Real Estate Investment Fund (MREIF), a flagship housing initiative of President Bola Ahmed Tinubu aimed at expanding access to affordable home ownership for Nigerians.
Chairman of the Committee, Hon. Abdulmumin Jibrin, disclosed that the investigative session will begin on Tuesday, June 2, as part of the Committee’s oversight responsibility to ensure that the fund is being administered in line with its objectives and the expectations of the President.
Jibrin said the Committee will examine the activities, operations, and overall performance of MREIF, while also addressing multiple petitions received concerning the fund.
According to him, the investigation is intended to assess the effectiveness of the initiative and ensure transparency, accountability, and value delivery to Nigerians.
The Committee has summoned the Managing Director of MREIF and the entire management team to appear before it and provide relevant information regarding the administration of the fund.
MREIF was established to facilitate affordable housing finance and increase access to home ownership across the country through innovative real estate investment mechanisms.
The outcome of the investigation is expected to provide lawmakers with insights into the fund’s performance and help determine necessary measures to strengthen its operations.
