Following the announcement of leadership changes at the Federal Mortgage Bank of Nigeria (FMBN) by President Bola Ahmed Tinubu, newly appointed Managing Director/Chief Executive, Mr. Shehu Usman Osidi has pledged his commitment to an open, transparent, and accountable administration, in providing innovative solutions to the housing challenges in the country.

Mr. Osidi stated this during a Handover Ceremony held on Monday, February 19, 2024, at the Board Room of the Bank’s Head Office, as he took over from Mr. Madu Hamman, who steered the affairs of the Bank since April 2022, when he was appointed Managing Director/Chief Executive.

Reminiscing on his previous stint at the FMBN, the new MD noted that it was a homecoming for him, having served the Bank for 13 years before leaving for another assignment. He thanked the outgoing Management Team for their selfless service, commending them for doing remarkably well during their tenure.

Mr. Osidi further expressed appreciation to President Tinubu and the Honourable Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, for giving him and the incoming Executive Directors the opportunity to serve Nigerians in the provision of affordable housing solutions.

Other newly appointed Executives are Mr. Ibidapo Odojukan, Executive Director, Finance and Corporate Services, Mr. Muhammad Sani Abdu, Executive Director, Loans and Mortgage Services and Ms. Chinenye Anosike, Executive Director, Business Development and Portfolio Management. Osidi revealed that the new executives boast of many years of expertise in banking and other sectors and embody the perfect blend of technical expertise needed to move the institution forward.

While acknowledging the myriad challenges facing the housing sector, he assured of his readiness to hit the ground running, urging the Senior Management of the Bank and other staff to embrace teamwork, for the actualization of the Bank’s vision, which is linked to the Renewed Hope vision for the Housing Sector.

Presenting the handover notes, Mr. Hamman brought the new Executives up to speed on the Bank’s ongoing initiatives and engagements, urging them to consolidate on the efforts of the outgoing Executives, made up of himself as MD/CE, Mrs. Zubaida Umar as Executive Director, Finance and Corporate Services, Dr. Lukman Mustapha as Executive Director, Loans and Mortgage Services and Mr. Kingsley Chukwuma as Executive Director, Business Development and Portfolio Management.

He thanked President Tinubu for the opportunity to serve and congratulated the new Management, challenging them to think deep and come up with innovative ways to mobilize resources to meet the enormous housing demand of Nigerians.

He expressed confidence in the growth and development of the FMBN, emphasizing that “with Mr. Osidi’s proven track record of performance, I am confident that the Bank is in very capable hands. The future of mortgage banking is very bright with the new Team on board,” he said.

The Handover Ceremony evoked varying emotions, as the Senior Management Team members took turns to both appreciate the outgone Team members for their service to the Bank and to pledge their support to the new Team members, in their effort to propel the Bank to greater heights.