The newly appointed Managing Director of the Federal Mortgage Bank of Nigeria (FMBN), Mr. Shehu Osidi, has pledged to uphold a transparent and open-door policy during his tenure.
In his inaugural address at the Handover Ceremony of the outgoing executive team to the incoming team in Abuja, Osidi emphasized the importance of cooperation and teamwork among staff members to fulfill the bank’s mandate.
Osidi, a former staff member of the bank, described his appointment as a homecoming and a call to serve. He acknowledged the weight of expectations placed on him, given his familiarity with the challenges faced by the bank. Osidi expressed his commitment to addressing these challenges responsibly alongside the new executive management team.
Recognizing the significance of teamwork in achieving organizational goals, Osidi stressed the need for open communication, transparency, and accountability within the bank. He emphasized fostering an environment where innovation, professionalism, excellence, and staff well-being are prioritized.
Osidi urged all staff members to recommit themselves to serving the bank with honesty and to refrain from negative attitudes. He underscored the importance of fulfilling the expectations of stakeholders and contributing positively to the provision of affordable housing finances.
In his remarks, the outgoing Managing Director, Mr. Madu Hamman, expressed gratitude to President Bola Tinubu for the opportunity to serve. He commended the incoming management team and advised them to explore innovative ways of raising funds beyond depending solely on deposits from the National Housing Fund (NHF).
Hamman highlighted some achievements during his tenure, including surpassing N100 billion in annual collections. He emphasized the need to categorize the bank as a dividend-paying institution to enhance its effectiveness.
Mrs. Zubaida Umar, the outgoing Executive Director of Finance, welcomed the new management team and assured them of the staff’s unwavering commitment and dedication.
The appointment of Mr. Shehu Osidi as Managing Director signals a new chapter for the Federal Mortgage Bank of Nigeria, characterized by transparency, collaboration, and a renewed focus on fulfilling its mandate of providing affordable housing finance to Nigerians.
