The House of Representatives has launched an investigation into Family Homes Funds Limited over the controversial 500,000-unit housing project.
The decision followed a motion moved on Thursday by Edo lawmaker Esosa Iyawe, who highlighted issues with federal housing schemes.
Iyawe expressed concerns that failed projects have led to increasing slums and informal settlements around Nigeria’s major cities, affecting development.
He recalled that in 2018, the Federal Government allocated N1.5 trillion to Family Homes Funds Limited for affordable housing construction.
However, he noted that the company has failed to meet expectations, with few houses built in remote, unaffordable locations.
Iyawe warned that the stalled project has tied up public funds, which may lead to economic losses if not addressed soon.
In response, the House mandated its Committee on Public Assets to investigate and report findings within four weeks for further action.
