Tinubu Appoints Son-in-Law New Head Of FHA, Osidi As FMBN CEO

President Bola Tinubu has approved the reconstitution of the executive management teams of parastatals under the Federal Ministry of Housing and Urban Development.

According to a statement by Presidential spokesman, Ajuri Ngelale, the decision was part of a holistic approach to repositioning the national housing and urban development sector to meet the present and future needs of Nigerian families nationwide.

The appointees are Shehu Usman Osidi as Managing Director/CEO of Federal Mortgage Bank of Nigeria (FMBN).

While Ibidapo Odojukan, Muhammad Sani Abdu and Ms. Chinenye Anosike are appointed as Executive Directors in charge of Finance & Corporate Services, Loans & Mortgage Services, and Business Development & Portfolios, respectively.

Also, for the Federal Housing Authority (FHA), a former lawmaker and son-in-law of the President, Hon. Oyetunde Oladimeji Ojo, has been appointed as Managing Director/CEO of the agency.

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While Mathias Terwase Byuan, Umar Dankane Abdullahi, Oluremi Omowaiye, and Ezekiel Nya-Etok are appointed as
Executive Directors in charge of Housing Finance & Accounts, Business Development, Project Implementation, and Estate Services, respectively.

Ngelale said the new FMBN CEO, Shehu 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.

“New FHA CEO, Hon. Oyetunde 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 and 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,” Ngelale added.