President Bola Tinubu has approved the reconstitution of the executive management teams of two parastatals under the Federal Ministry of Housing and Urban Development.
According to a statement on Thursday by his Special Adviser on Media and Publicity, Ajuri Ngelale, the parastatals involved are Federal Mortgage Bank of Nigeria (FMBN) and the Federal Housing Authority (FHA).
The statement said Mr. Shehu Usman Osidi is the new Managing Director / CEO of FMBN while Mr. Ibidapo Odojukan will serve as Executive Director (Finance & Corporate Services), Mr. Muhammad Sani Abdu will serve as Executive Director (Loans & Mortgage Services) and Ms. Chinenye Anosike will serve as Executive Director (Business Development & Portfolios)
For the FHA, Hon. Oyetunde Oladimeji Ojo is the new Managing Director/CEO while Mr. Mathias Terwase Byuan will serve as Executive Director (Housing Finance & Accounts), Mr. Umar Dankane Abdullahi will take the Executive Director (Business Development) position, Engr. Oluremi Omowaiye will be Executive Director (Project Implementation) and Arc. Ezekiel Nya-Etok will serve as Executive Director (Estate Services).
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The statement said the President’s approval was part of a holistic approach to repositioning the national housing and urban development sector to meet the present and future needs of families nationwide.
The statement explained: “The new FMBN CEO, Mr. 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.”
