NAPS LAUDS FMBN MD/CEO, SHEHU USMAN OSIDI, FOR REMARKABLE REFORMS




By National Association of Polytechnic Students (NAPS)



The National Association of Polytechnic Students (NAPS) remains the umbrella body for over 28.1 million ND and HND students across Nigeria’s Polytechnics, Monotechnics, and Colleges of Technology. As Africa’s second-largest student movement, we don’t just learn, we watch, assess, and recognize leadership that produces results.


Since Mr. Shehu Usman Osidi, assumed office as Managing Director/CEO of the Federal Mortgage Bank of Nigeria (FMBN) in February 2024, we have been keen observers of his management and have witnessed what many would call a transformational journey.


Under his leadership, FMBN approved ₦71.5 billion in home loans in 2024, nearly double the ₦39.7 billion approved in 2023, a bold indicator of improved access to housing finance.


For the first time in over three decades, the Bank recorded a surplus of ₦11.6 billion in 2024, followed by another ₦6.5 billion in Q1 2025.


To reinforce institutional discipline, Mr. Osidi launched seven internal Recovery Task Teams, successfully recovering ₦18.9 billion in impaired loans within the same period.


Mr. Osidi spearheaded the reinstatement of Kano State civil servants into the NHF scheme after a 24-year hiatus—adding over 160,000 contributors and revitalizing worker participation in housing finance.


Furthermore, he made it known on FMBN Day at the just concluded Africa International Housing Show in Abuja on plans to roll out housing initiative with the delivery process to be exclusively undertaken by women.


He also introduced strategic, inclusive mortgage products:

• Diaspora Mortgage Loan (in partnership with NiDCOM and CBN)

• Rent Assistance Scheme

• Rent-to-Own Scheme

• Non‑Interest/ethical mortgage option

These products reflect a commitment to financial inclusion and creative housing finance solutions.


Under the MD/CEO Osidi’s leadership, the Bank advanced process automation via the deployment of a new Core Banking Application, vastly improving customer service delivery times and transparency.


Strategic partnerships with entities like Shelter Afrique, REDAN, NIDCOM, and FinTech/PropTech stakeholders have broadened FMBN’s reach and enhanced product innovation, including support for student hostel financing, Staff Quarters and rent‑to‑own schemes.


FMBN is no longer seen as bureaucratic or distant. Under Mr. Usman Osidi, it is reformed, citizen‑focused, and financially sound attributes that matter to the youth demographic NAPS represents.


By making homeownership more accessible, driving operational efficiency, and initiating inclusive finance, the MD/CEO is helping restore public confidence in government institutions especially through a lens many of us call “policy that works for people”.


NAPS extends profound gratitude and respect to Mr. Shehu Usman Osidi whose tenure is defined by performance, innovation, and a visible impact on Nigerians’ lives.


We have watched. We are encouraged. We are inspired.


Thank you President Bola Ahmed Tinubu GCFR, for giving us a visionary man who is turning housing policy into hope and opportunity.


Comrade Aliyu Omotayo Yusuf CNPS

Vice President,

National Association of Polytechnic Students (NAPS)




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