PRESIDENT Bola Tinubu has appointed Oyetunde Ojo as the new Managing Director of the Federal Housing Authority, along with four executive directors.
Ojo takes over from Gbenga Ashafa, who led the FHA since 2020. Additionally, Shehu Osiris has been named as the new Managing Director of the Federal Mortgage Bank of Nigeria, with three executive directors also appointed.
The appointments were announced by Tinubu’s Special Adviser on Media and Publicity, Ajuri Ngelale, as part of a broader initiative to revitalize the housing and urban development sector.
The four executive directors at the FHA include: Mathias Byuan (Housing Finance and Accounts), Umar Abdullahi (Business Development), Oluremi Omowaiye (Project Implementation) and Ezekiel Nya-Etok (Estate Services).
At the FMBN Tinubu appointed Ibidapo Odojukan as Executive Director (Finance and Corporate Services), Muhammad Abdu (Loans and Mortgage Services), and Chinenye Anosike (Business Development and Portfolios).
Ojo, the new FHA MD, brings a wealth of experience in housing and hospitality, having previously served as a Member of the House of Representatives.
He holds a Master’s degree in Peace and Conflict Studies from the University of Greenwich, United Kingdom.
On the other hand, Osidi, the new FMBN MD, is a seasoned banker with over 30 years experience in mortgage banking and a strong educational background from reputable institutions (Harvard University’s Kennedy School of Government as well as the University of Pennsylvania’s Wharton School of Housing Finance).
The Presidency cited Tinubu’s 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 $300bn of dead capital in the sector.
Consequently, Tinubu’s administration aims to enhance the national housing sector by establishing Building Materials Hubs, creating a National Social Housing Fund, and implementing land reforms to facilitate access to land and unlock significant capital in the sector.
The new leadership is expected to swiftly address the housing needs of Nigerian families and generate employment opportunities for the youth.
