Tinubu appoints Shehu Osidi as Federal Mortgage Bank CEO

President Bola Tinubu has approved the appointment of  Shehu Osidi as the managing director and chief executive officer (CEO) of the Federal Mortgage Bank of Nigeria (FMBN).

This was disclosed in a statement on Thursday by Ajuri Ngelale, special adviser to the president on media and publicity. 

The appointment follows the plan of the federal government to reposition the national housing and urban development sector to meet the present and future needs of Nigerian families nationwide.

Tinubu also approved the appointment of Oyetunde Ojo as the managing director and CEO of Federal Housing Authority (FHA).

According to Ngelale, Osidi, is a banker with over 30 years of work experience, including 13 years of experience in mortgage banking.

He is an alumnus of Harvard University’s Kennedy School of Government as well as the University of Pennsylvania’s Wharton School of Housing Finance.

On the other hand, Ojo is a former member of the house of representatives with over a decade of work experience in the housing and hospitality industries.

He holds a master’s degree in Peace and Conflict Studies from the University of Greenwich, United Kingdom.

“In view of President Bola Tinubu’s historic approval of the establishment of Building Materials Hubs across all six of the nation’s geo-political zones; financing and establishment of a National Social Housing Fund for low income and vulnerable groups, and land reforms to collaboratively streamline access to land across all states,” Ngelale said.

“Also, to unlock nearly $300 billion of dead capital in the sector, his expectations are high that the above-named appointees will hit the ground running in the delivery of affordable housing for millions of Nigerians in need, while providing millions of new job opportunities for Nigeria’s talented youth population presently searching for work.”

Below is a list of the new appointees

FMBN

(1) Shehu Usman Osidi: managing director/CEO

(2) Ibidapo Odojukan: executive director (finance and corporate services)

(3) Muhammad Sani Abdu: executive director (loans and mortgage services)

(4) Chinenye Anosike: executive director (business development and portfolios)

FHA

(1) Oyetunde Oladimeji Ojo: managing director / CEO — Hon.

(2) Mathias Terwase Byuan: executive director (housing finance and accounts)

(3) Umar Dankane Abdullahi: executive director (business development)

(4) Oluremi Omowaiye: executive director (project implementation)

(5) Ezekiel Nya-Etok: executive director (estate services)