Tinubu targets $300b dead capital, with new housing sector appointments

..Names Osidi, CEO of FMBN
…As Ojo takes over at FHA

President Bola Tinubu, on Thursday, charged newly appointed officials of the Federal Mortgage Bank to unlock the over $300b dead capital in the housing sector.

Ajuri Ngelale, Presidential Spokesman, in a statement on Thursday, said the President, approved the appointment of Usman Osidi, as the Managing Director of the Federal Mortgage Bank of Nigeria (FMBN):

Read also: Pres. Bola Tinubu to deploy commercial electric buses to alleviate transportation pressure

The statement said the President also approved the appointment of Yetunde Ojo, as the Managing Director of the Federal Housing Authority FHA
The appointment, he said, is 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, as part of the reforms in the executive management teams of parastatals under the Federal Ministry of Housing and Urban Development:

Under the Federal Mortgage Bank, the President announced the appointment of Ibidapo Adojukan, as the Executive Director (Finance & Corporate Services), Dani Abdu, Executive Director (Loans & Mortgage Services) and Chinenye Anosike, as the Executive Director (Business Development & Portfolios)

The President also approved the appointment of Oyetunde Ojo, as the Managing Director / CEO, of the Federal Housing Authority (FHA)

Others include , Byuan Mathias, as Executive Director (Housing Finance & Accounts), Umar Abdullahi, as Executive Director (Business Development),

Others are Oluremi Omowaiye as Executive Director (Project Implementation) and Ezekiel Nya-Etok, xecutive Director (Estate Services)

Osidi, the new FMBN, CEO, 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.

Oyetunde Ojo, the new CEO of FHA, on the other hand, 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.

President Bola Tinubu had also approved 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.

Read also: I will not set up price control board Tinubu

The President also had approved land reforms to collaboratively streamline access to land across all states and unlock nearly $300 billion of dead capital in the sector.

Ngelale said the President’s 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.