STATE HOUSE PRESS RELEASE

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

Federal Mortgage Bank of Nigeria (FMBN):

(1) Managing Director / CEO — Mr. Shehu Usman Osidi

(2) Executive Director (Finance & Corporate Services) — Mr. Ibidapo Odojukan

(3) Executive Director (Loans & Mortgage Services) — Mr. Muhammad Sani Abdu

(4) Executive Director (Business Development & Portfolios) — Ms. Chinenye Anosike

Federal Housing Authority (FHA):

(1) Managing Director / CEO — Hon. Oyetunde Oladimeji Ojo

(2) Executive Director (Housing Finance & Accounts) — Mr. Mathias Terwase Byuan

(3) Executive Director (Business Development) — Mr. Umar Dankane Abdullahi

(4) Executive Director (Project Implementation) — Engr. Oluremi Omowaiye

(5) Executive Director (Estate Services) — Arc. Ezekiel Nya-Etok

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.

Chief Ajuri Ngelale

Special Adviser to the President

(Media & Publicity)

February 15, 2024