What is the purpose of NHF contribution?
What is the purpose of NHF contribution? The Scheme provides housing loans at an affordable interest rate of 6% per annum. deducts any sum of money from the basic salaries of his employees for the purpose of the Fund and fails to remit the money so deducted to the bank, is guilty of an offence under this Act.
How does NHF work in Nigeria?
National Housing Fund (NHF) is a Federal Government scheme, which entitles all Nigerians above the age of 21years in paid employment to a low interest, government funded loan. Members of the scheme contribute 2.5% of their monthly salary to the fund through Federal Mortgage Bank of Nigeria.
Is NHF mandatory?
NHF contributions are applicable to Nigerian employees earning a minimum of NGN 3,000 per annum. The employer is required to deduct 2.5% of basic salary from employees earning more than NGN 3,000 per annum and remit it to the Federal Mortgage Bank of Nigeria within one month of deduction.
How do I check my NHF contributions?
How to Check NHF Monthly Contributions
- Dial *219# and send.
- Type 2 and send.
- Type 1 and send.
- Type the exact month i.e 1 to 12 and send.
How can I contribute to NHF?
NHF FREQUENTLY ASKED QUESTIONS
- Completed application form.
- Photocopy of title documents.
- Current valuation report on the proposed house to buy or bills of quantities (BOQ) for the house to build.
- Three years tax clearance certificate.
- Evidence of NHF participation.
- Copy of pay-slips for the previous three months.
How do I apply for NHF down payment assistance?
An important note: To apply for NHF down payment assistance, you need to work with a participating mortgage lender. You can find one in your area by asking your real estate agent, or by contacting the NFH at its toll-free number: (866) 643-4968.
How can I get money for a downpayment on a house?
Potential homeowners can come up with the down payment by getting a part-time job or borrowing from family. Downsizing to a smaller apartment—saving rent—can save thousands of dollars per year. Programs can help, such as the Federal Housing Administration (FHA), which offers mortgage loans through FHA-approved banks.
What is the full meaning of NHF in Nigeria?
The Nigerian Youth Investment Fund (NYIF) was set up as an initiative of the Federal Ministry of Youth and Sports Development (FMYSD) and funded by the Central Bank of Nigeria (CBN) to invest in youth ideas to build sustainable businesses that can activate enterprise and increase job opportunities in Nigeria.
How can I get my NHF number?
– Dial *219# USSD code and Send. – Type 3 and Send. – Your NHF number will be displayed.
How do I register for NHF?
FMBN DigitALL USER MANUAL
- Click on the “Register” icon.
- 2 Enter your NHF Number.
- 3 Enter your preferred password.
- 4 Confirm your preferred password.
- 5 Click on the “Submit” button.
- 6 Enter your Mobile Phone Number.
- 7 Enter your preferred email address.
- 8 Click on the “Submit” button to continue registration.
