When Shehu Usman Osidi assumed leadership as the Managing Director/Chief Executive of the Federal Mortgage Bank of Nigeria (FMBN) in read more A year of transformation: Osidi’s leadership and FMBN’s journey towards affordable housing
Under Shehu Usman Osidi's leadership since February 2024, the FMBN has achieved significant progress, including recording its first operational surplus in 30 years (₦11.58 billion), increasing NHF collections by ₦3 billion (totaling ₦103 billion), and launching new mortgage products like the rent assistance loan. Digital transformation has reduced loan processing times. FMBN is collaborating with various organizations to expand affordable housing and has financed the completion of 1,044 housing units, with thousands more under construction. They also provided ₦100 billion in off-taker guarantees for housing units in Karsana, FCT, and funded thousands of home construction and microloans.
