In a surprising move, President Bola Tinubu has appointed his son-in-law, Oyetunde Ojo, as the new Managing Director of the Federal Housing Authority (FHA). Ojo, who is married to Tinubu’s eldest daughter, Folashade, will replace Gbenga Ashafa, who has led the FHA since 2020.
The announcement was made by Ajuri Ngelale, the President’s Special Adviser on Media and Publicity, who said that the appointments are part of a “holistic approach to repositioning the national housing and urban development sector to meet the present and future needs of Nigerian families nationwide.”
Ngelale added that President Tinubu has given his approval for the establishment of Building Materials Hubs across all six geo-political zones of the country, the creation of a National Social Housing Fund for low-income and vulnerable groups, and the implementation of land reforms to streamline access to land and unlock nearly $300 billion of dead capital in the sector.
“With these bold and visionary initiatives, President Tinubu expects the new appointees to hit the ground running in the delivery of affordable housing for millions of Nigerians in need, while providing millions of new job opportunities for Nigeria’s talented youth population presently searching for work,” Ngelale said.
Ojo, a former Member of the House of Representatives, has over a decade of work experience in the housing and hospitality industries. He holds a Master’s degree in Peace and Conflict Studies from the University of Greenwich, United Kingdom. He is also an alumnus of Harvard University’s Kennedy School of Government and the University of Pennsylvania’s Wharton School of Housing Finance.
Ojo will be joined by four other executive directors at the FHA: Mathias Byuan (Housing Finance and Accounts), Umar Abdullahi (Business Development), Oluremi Omowaiye (Project Implementation) and Ezekiel Nya-Etok (Estate Services).
In addition, President Tinubu has appointed Shehu Osiris as the new Managing Director of the Federal Mortgage Bank of Nigeria (FMBN), along with three executive directors: Ibidapo Odojukan (Finance and Corporate Services), Muhammad Abdu (Loans and Mortgage Services), and Chinenye Anosike (Business Development and Portfolios).
