Shehu Osidi: Tinubu Appoints New CEO of Federal Mortgage Bank

Feb 15, 2024 | Uncategorized

  • President Bola Tinubu has approved the appointment of a new CEO at the Federal Mortgage Bank of Nigeria (FMBN)
  • The president’s spokesperson, Anjuri Ngalale, announced the announcement on Thursday, February 15
  • As the announcement mentions, veteran banker Shehu Osidi will lead the revolution at the FMBN journalist Segun Adeyemi has over 9 years of experience covering political events, civil societies, courts, and metro

State House, Abuja – President Bola Tinubu has given the green light for Shehu Osidi to take on the role of managing director and chief executive officer (CEO) at the Federal Mortgage Bank of Nigeria (FMBN).

This announcement came through a statement released on Thursday, February 15, by Ajuri Ngelale, the president’s special adviser on media and publicity.

President Bola Tinubu has announced a new CEO for the FMBN
Shehu Osidi is a veteran banker with years of experience in the banking sector. Photo Credit: The Presidency Nigeria
Source: Facebook

The decision aligns with the government’s strategy to revitalise the national housing and urban development sector to address families’ current and future requirements across Nigeria.

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Tinubu has given the green light for Oyetunde Ojo to take the reins as the managing director and CEO of the Federal Housing Authority (FHA).

Who is Shehu Osidi?

Ngelale, Osidi, a seasoned banker with more than three decades of professional background, including 13 years specifically in mortgage banking, has been highlighted for this role.

Ngelale boasts educational credentials from prestigious institutions such as Harvard University’s Kennedy School of Government and the University of Pennsylvania’s Wharton School of Housing Finance.

On the flip side, Ojo, a former member of the House of Representatives, brings over ten years of expertise in both the housing and hospitality sectors.

Holding a master’s degree in Peace and Conflict Studies from the University of Greenwich, United Kingdom, Ojo’s diverse background positions him well for his new responsibilities.

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As quoted by The Cable, Ngelale said:

“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.

“Also, to 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.”

Below is a list of the new appointees:


(1) Shehu Usman Osidi: managing director/CEO

(2) Ibidapo Odojukan: executive director (finance and corporate services)

(3) Muhammad Sani Abdu: executive director (loans and mortgage services)

(4) Chinenye Anosike: executive director (business development and portfolios)

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(1) Oyetunde Oladimeji Ojo: managing director / CEO — Hon.

(2) Mathias Terwase Byuan: executive director (housing finance and accounts)

3) Umar Dankane Abdullahi: executive director (business development)

(4) Oluremi Omowaiye: executive director (project implementation)

(5) Ezekiel Nya-Etok: executive director (estate services)

Tinubu approves new appointments in NAFDAC

In another report, President Tinubu’s led federal government has approved leadership changes in the health and social welfare sector.

The president appointed new board chairpersons, CEOs, and a new director-general for the NCDC.

Ajuri Ngelale, special adviser to the president on media & publicity, confirmed the development in a statement issued on Thursday.


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