Key Takeaways
- • The House of Representatives Committee on Housing and Habitat has initiated a comprehensive investigation into the MOFI Real Estate Investment Fund (MREIF), a ₦250 billion Federal Government housing finance initiative, with mandatory management testimony scheduled to commence June 3, 2026.
- • Committee Chairman Abdulmumin Jibrin stated the probe will conduct detailed reviews of MREIF's operations, governance structure, financing model, and overall performance while addressing multiple stakeholder petitions regarding fund activities.
- • The investigation represents the National Assembly's statutory oversight function, with lawmakers emphasizing commitment to transparency, accountability, and effective delivery of public housing initiatives aligned with presidential housing agenda objectives.
- • MREIF was established under the Ministry of Finance Incorporated to address Nigeria's multi-million-unit housing deficit and deepen long-term financing for the real estate sector.
Summary
The House of Representatives Committee on Housing and Habitat has launched a formal investigation into the MOFI Real Estate Investment Fund (MREIF), a ₦250 billion Federal Government housing finance vehicle designed to expand affordable homeownership access across Nigeria. The investigative hearing commenced on June 3, 2026, with mandatory appearances from the fund's Managing Director and entire management team before the committee.
Committee Chairman Abdulmumin Jibrin characterized the inquiry as a core component of the National Assembly's oversight responsibilities, stating that the exercise aims to ensure MREIF's implementation and performance align with Federal Government housing policy objectives. The investigation will encompass a detailed examination of the fund's operations, internal governance structure, financing mechanisms, and performance metrics across its portfolio.
The probe was initiated following multiple petitions from stakeholders raising concerns regarding MREIF's activities and fund administration. Jibrin emphasized that the committee's mandate includes addressing these grievances while maintaining pressure on institutional transparency and accountability standards. He stated that "the committee is embarking on this exercise to ensure that the administration and performance of MREIF meet the expectations of the President and the aspirations of Nigerians seeking affordable housing opportunities."
MREIF was established under the Ministry of Finance Incorporated framework as part of the Federal Government's broader strategy to address Nigeria's substantial housing deficit and facilitate long-term financing infrastructure for the real estate sector. The fund represents a key institutional mechanism within the national housing agenda, making its governance and operational transparency critical to the administration's policy credibility and housing delivery targets.
The mandatory nature of management attendance underscores the committee's determination to conduct a rigorous examination, with lawmakers signaling that non-compliance or evasion would not be tolerated in what has become a high-profile oversight matter within Nigeria's housing finance ecosystem.
Committee Chairman Abdulmumin Jibrin characterized the inquiry as a core component of the National Assembly's oversight responsibilities, stating that the exercise aims to ensure MREIF's implementation and performance align with Federal Government housing policy objectives. The investigation will encompass a detailed examination of the fund's operations, internal governance structure, financing mechanisms, and performance metrics across its portfolio.
The probe was initiated following multiple petitions from stakeholders raising concerns regarding MREIF's activities and fund administration. Jibrin emphasized that the committee's mandate includes addressing these grievances while maintaining pressure on institutional transparency and accountability standards. He stated that "the committee is embarking on this exercise to ensure that the administration and performance of MREIF meet the expectations of the President and the aspirations of Nigerians seeking affordable housing opportunities."
MREIF was established under the Ministry of Finance Incorporated framework as part of the Federal Government's broader strategy to address Nigeria's substantial housing deficit and facilitate long-term financing infrastructure for the real estate sector. The fund represents a key institutional mechanism within the national housing agenda, making its governance and operational transparency critical to the administration's policy credibility and housing delivery targets.
The mandatory nature of management attendance underscores the committee's determination to conduct a rigorous examination, with lawmakers signaling that non-compliance or evasion would not be tolerated in what has become a high-profile oversight matter within Nigeria's housing finance ecosystem.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.