The Association of African Development Finance Institutions (AADFI) has commended the Shehu Usman Osidi-led Management of the Federal Mortgage Bank of Nigeria (FMBN) for its sustained commitment to promoting development financing and inclusive housing development in Nigeria and Africa.

The Secretary General of AADFI, Mr. Cyril Okoye, gave the commendation during a courtesy visit of the Association’s top management to the Bank on Tuesday, July 9, 2024, at the Bank’s headquarters in Abuja.

Mr. Okoye acknowledged the consistent support of FMBN to AADFI’s efforts in improving Development Finance Institutions (DFIs) across Africa and praised the Bank for its leadership role.

“The Bank stands as one of our cases when we speak about certain sectors where we have Development Finance Institutions trailblazing,” he stated.

The Secretary General briefed the FMBN Management on AADFI’s programmes, noting that over the past four years, AADFI has focused on strengthening its member institutions. He emphasized that real development in Africa can only be achieved with strong, resilient and sustainable DFIs, highlighting the need to reinforce these institutions across the continent.

Mr. Okoye further introduced the Sustainability Standard Certification Initiative as a tool for strengthening DFIs and urged the FMBN Management to leverage the initiative to enhance the Bank’s development financing capacity.

He also noted that the association had established a Climate Finance Working Group to increase access to climate finance for DFIs and encouraged the Bank to engage with the group to explore areas of synergy.

Speaking about the upcoming CEO Forum in November 2024 in Mauritius, which will propel AADFI’s 50th Anniversary celebration in 2025, Mr. Okoye assured that the anniversary would provide an opportunity to showcase member institutions’ achievements and facilitate experience-sharing.

In his remarks, the Managing Director and Chief Executive of FMBN, Shehu Usman Osidi, highlighted the significance of the visit, affirming the strong bond and collaborative spirit between FMBN and AADFI.

Osidi noted that FMBN has been an active participant in AADFI’s programmes and conferences, recalling the significant benefits the Bank gained from the last peer review mechanism programme, in which it performed commendably.

He reiterated FMBN’s commitment to fostering sustainable development and improving the quality of life for Nigerians through affordable housing finance solutions.

Osidi further praised the Secretary General for his visionary leadership of AADFI. “Your leadership in promoting development finance as a catalyst for economic growth is commendable and aligns perfectly with the vision and values of FMBN,” he said.

Assuring AADFI of the Bank’s continued support for development initiatives, Osidi expressed hope for a brighter future for housing finance in Nigeria and Africa as a whole.