The appointment of Shehu Musa Osidi as the new Managing Director, Federal Mortgage Bank of Nigeria (FMBN) in February, was not only to the expectations of ordinary Nigerians, but putting the cat before the mouse to move the moribund organization forward.
This was a coincidence of experience, knowledge and exposure considering his resume of having worked as a seasoned Banker, staff of Federal Mortgage Bank over the years and his short stint as one of the aides of the current Minister of Housing and Urban Development, Arc Ahmed Musa Dangiwa who was at the mantle of leadership for consecutive eight years at FMBN.
With in-depth experience and conversant with the housing sector and mortgages, Osidi wealth of experience, on the job training and basic knowledge in the banking sector placed him higher among others to cling the new feat.
With huge and large resume, the new Managing Director, Chief Executive officer CEO of Federal Mortgage Bank of Nigeria FMBN was another opportunity to advance both private and public sector knowledge harnessed over the years to not only promote mortgages in the country, but ensured ordinary Nigerians own a house.
His appointment in February greeted by stakeholders as a good step by the government to promote Housing and mortgage development among many others in the country will advance partnerships, robust MOUs capable of delivering the 100,000 houses yearly.
Osidi also promised to revive the 46 housing projects abandoned across the 36 states to provide shelter through mortgages and NHF.
The project abandoned under an agreement with state government through provision of infrastructure while the Bank oblige other provision was been revived to meet Nigerians expectations.
With grand synergy with shelter Afrique Development Bank who will be investing about $25B spread across in the country meant for development finance, no doubt will be a good start for the FMBN.
The promise to think outside the box, will be an enabling environment to access all products in the sector that will promote not only housing development, but shelter to the people across the country in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu.
With Nigeria as the highest second contributors to Shelter Afrique Development Bank, no doubt wil have an unfettered access to funds to provide robust mortgages, NHF and the excitement in the new rent to own arrangements.
Osidi's determination and wealth of experience will herald the transformation and innovative template that will be expected of the new FMBN under his leadership.
All hands must be on deck to support the highly experienced administrator, technocrat and bureacrat with verse knowledge both from the private and public sector to deliver on the mandate of the current administration.
Written BY ABUBAKAR YUSUF on [email protected].
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