President Bola Tinubu has announced key leadership changes in the housing and urban development sector, appointing Oyetunde Ojo as the new Managing Director of the Federal Housing Authority (FHA) and Shehu Osiris as the Managing Director of the Federal Mortgage Bank of Nigeria (FMBN). Additionally, four executive directors have been appointed for FHA, and three for FMBN.
The executive directors at FHA include Mathias Byuan (Housing Finance and Accounts), Umar Abdullahi (Business Development), Oluremi Omowaiye (Project Implementation), and Ezekiel Nya-Etok (Estate Services). At FMBN, the appointed executive directors are Ibidapo Odojukan (Finance and Corporate Services), Muhammad Abdu (Loans and Mortgage Services), and Chinenye Anosike (Business Development and Portfolios).
Ajuri Ngelale, Special Adviser on Media and Publicity to President Tinubu, disclosed the appointments in a statement titled ‘President Tinubu approves leadership changes in the housing and urban development sector.’ The appointments, according to Ngelale, are part of a comprehensive strategy to reposition the national housing and urban development sector to meet the current and future needs of Nigerian families.
Oyetunde Ojo, the new FHA MD, is a former Member of the House of Representatives with extensive 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. Similarly, the new FMBN MD, Shehu Osiris, brings over 30 years of banking experience, including 13 years in mortgage banking. He is an alumnus of Harvard University’s Kennedy School of Government and the University of Pennsylvania’s Wharton School of Housing Finance.
The Presidency highlighted President Tinubu’s approval of initiatives such as Building Materials Hubs across all six geopolitical zones, the establishment of a National Social Housing Fund for low-income and vulnerable groups, and land reforms aimed at facilitating access to land and unlocking approximately $300 billion of dead capital in the sector.
President Tinubu expects the new leadership to swiftly embark on delivering affordable housing for millions of Nigerians and generating job opportunities for the country’s youth population. The appointments align with the government’s commitment to addressing housing challenges and advancing urban development in Nigeria.
