National Housing Fund (NHF) Registration in Nigeria
Act 3 of 1992 established the National Housing Fund (NHF) with the aim of Mobilization of funds for the provision of affordable residential houses for Nigerians.
All Nigerians in employment, whether self-employed or in paid employment, are required by the NHF Act No.3 of 1992 to contribute 2.5% of their basic salary/income to the fund.
The procedure for registration is as follows:
- The Federal Mortgage Bank of Nigeria (FMBN) will supply Employer Registration Form (NHF1) to employers.
- Employers will complete form NHF1 and return to the nearest branch of the Federal Mortgage Bank of Nigeria.
- Federal Mortgage Bank of Nigeria will register the Employer and issue an employer’s registration number.
- Federal Mortgage Bank of Nigeria will issue form NHF2 to employers for completion by employees or directly to self-employed or individuals.
- An employee will complete the form NHF2 and return it to the employer.
- The employer or self-employed individuals will return the completed form NHF2 to the Federal Mortgage Bank of Nigeria.
- Federal Mortgage Bank of Nigeria will register Employees on Form NHF2 and allocate employees’ participation number to each employee/self-employed individual.
- Federal Mortgage Bank will issue a passbook to each of the registered employees, where the monthly deduction of his/her 2.5% basic salary will be posted by the employer
- At this point, an employee is now a registered participant of the National Housing Fund.
- Employer will commence deduction of contributions at source. Such deductions/contributions are remitted to the Federal Mortgage Bank of Nigeria with schedule of payment indicating the amount contributed by each employee and the period covered.
- Self–employed contributors will also commence monthly remittances of contributions to FMBN.
- Federal Mortgage Bank of Nigeria will accept contributions and issue receipts for payments.
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