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Osidi: Garlands To A Housing Soldier

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By Musa Adamu, Esq

According to some data Nigeria housing deficit now stands at 28 million- it could be well more than that depending on one’s source of data, but definitely, not less.

As a government, the Renewed Hope of President Tinubu has through the Permanent Secretary, Federal Ministry of Works and Housing, Mahmuda Mamman, articulated its policy thrust on how it intends to address this challenge in the country.

Speaking at the 12th meeting of the National Council on Housing and Urban Development in Kaduna last year, where he revealed the government plans to assist vulnerable Nigerians to own houses.

To bring this into fruition, the government would look to the direction of the entities such as the FMBN and to ensure that the trust is well placed, the premier housing enabler in the country has to be manned or led by a technocrat with proven hands-on experiences.

To foot this bill, the government knew it needed that guy seasoned enough to navigate the delicate industry with minimal or no supervision at all to deliver on the mandate.

The employee must not be that who should first learn on the job. There won’t be enough time for that.

This explains the euphoria generated by the announcement on Thursday, February 15th, 2024 of the approval of the appointment of Shehu Usman Osidi to the position of the Managing Director/ Chief Executive Officer of the Federal Mortgage Bank (FMBN) by President Bola Tinubu.

THE MAN OSIDI:
Before joining FMBN in 2010 as Assistant General Manager, Osidi had been in the banking industry since 1990 having cut his teeth at the now defunct Lion Bank of Nigeria, PLC (1990- 2005).

He moved to the Diamond Bank Plc (2005 to 2006), Intercontinental Bank Plc (2006 to 2007) and Afribank Nigeria Plc (2007 to 2010).

Osidi voluntarily retired from the services of the FMBN on 4th September, 2023 as a General Manager (GM) to take up a Political Appointment as SA, Housing/Chief of Staff to the Honourable Minister of Housing & Urban Development, only to be plucked back as the head of the Bank to help drive the Renewed Hope Agenda of Mr President in the provision of housing to Nigerians.

Born in 1965 in the rural setting of Shafa Abakpa (Sofiyo), Toto Local Government Area of Nasarawa state, Osidi holds a Masters Degree in Business Administration (MBA) from the prestigious Bayero University, Kano in 2002.

He is an Associate Member of the Chartered Institute of Personnel Management of Nigeria (ACIPM); a full Member of the Nigerian Institute of Management (MNIM), an Honorary Senior Member of the Chartered Institute of Bankers of Nigeria (HCIB); a Fellow of the Institute of Credit Administration (FICA) and a Certified National Accountant (CNA).

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Osidi is also an alumnus of the prestigious Harvard Kennedy School of Government, Harvard University, Boston, USA as well as the Wharton School, University of Pennsylvania, USA.

HIS EXPLOITS/ FEATS WHILE AT FMBN:
As SA to the MD/CEO, Fed Mortgage Bank of Nigeria (2017 to 2022), he spearheaded the development and implementation of a 6-point Agenda for the new Management which assumed duty in April 2017, namely;
Promotion of sound Corporate Governance culture to ensure transparency and accountability;
Implementation of a robust Enterprise-wide Risk Management Framework;
Completion of on-going projects and creation of mortgages on the related housing units;
Aggressive Debt Recovery;
Cost-Containment;
Automation of the Bank’s Business Process.

It is worth mentioning that the implementation of the 6-points Agenda of the then MD/CEO led to the following results:
Preparation and updating of the Bank’s Annual Accounts which were in unacceptable arrears since 2013.

The efforts led to the clearance of the arrears and submission of the Accounts for 2013; 2014; 2015; 2016 and 2017. The Bank’s Accounts are now up to date.

Micro-management and completion of abandoned projects as a result of which 9 out of 26 such projects were redeemed and transferred from “lost” accounts to “active” accounts.

Deployment of a comprehensive Enterprise-wide Risk Management Framework to reduce the incidence of high Non-performing loan portfolio
Creation of additional mortgages of N5,398.

Creation of additional housing stock of 14,339 units.
Issuance of N9.5 billion Bankable Offtakers guarantee.

Reduction of equity contribution from 30% to 10% for loans of between N5m and N15m; and 0% for loans below N5 million, in order to enhance affordability and make homeownership more accessible to Nigerians.

Automation of the Bank’s processes through the deployment of Oracle 12c as well as the Core Banking Application software after approval by the Federal Executive Council.

In the same vein, Osidi as Group Head, Special Products, Federal Mortgage Bank of Nigeria (2012 to 2017), spearheaded the following campaigns and made gains:
He led the team which drove the Bank’s desire for financial inclusion.

He developed the Cooperative Housing Development Loan product which was intended to bring the Informal Sector into the housing finance system.

This led to the delivery of 3,540 housing units to Cooperative Societies across the country vide the disbursement of N22.082 billion.

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In order to further deepen FMBN’s market reach, he initiated the introduction of new products to address the needs of specific market segments.

Three (3) new products were his brain child in this regard, namely; The FMBN Home Renovation Loan, the Rent-to-Own, and the Nigerians in the Diaspora NHF Mortgage loan products.

While the Home Renovation loan was to facilitate access for Nigerians wishing to renovate their houses or completing same if they have built to some stage, the Rent to Own Scheme was to obviate the need for payment of equity which was a major challenge for Nigerians wishing to access mortgage loans.

The idea was to have them move into the houses as tenants while making payments towards ultimate ownership of the houses.

The Diaspora NHF Scheme on the other hand is to give Nigerians in the Diaspora opportunity to access mortgages and own houses back home while at the same time giving the Bank an opportunity to harvest diaspora remittances (in excess of $20 billion annually) to assist Government efforts towards housing development in Nigeria.

The Home Renovation and Rent to Own loan windows have achieved a total disbursement of N80.1billion to 77,575 beneficiaries and N1.14 billion to 76 beneficiaries respectively.

The Diaspora Housing Loan Scheme is awaiting CBN final approval for implementation.

He chaired the Committee which worked with other stakeholders to also develop a Rent to Own product paper under the Bank’s newly opened non-interest banking window.

This paper has been approved by the Board is now at the stage of implementation.

He initiated the development and implementation of the Housing Development for Nigerian Workers under the National Affordable Housing Development Scheme, which was a collaboration with the Labour Centers, namely; the Nigerian Labour Congress (NLC); the Trade Union Congress (TUC) and the Nigeria Employers Consultative Association (NECA).

This initiative led to the delivery of 1,800 houses across 16 States of the Federation in its first phase of implementation.

The second phase is to cover the remaining States.
In 2018/2019, he led the Bank’s “Think Tank” which was saddled with the responsibility of suggesting amendments to the FMBN and NHF Acts and engaging the National Assembly towards conducting Public Hearing and effecting those amendments.

The feat was successfully achieved under his leadership after constructive engagement with the National Assembly, with the passage of the Bills by the two chambers of the National Assembly which contained robust amendments that will help to revamp the housing sector in Nigeria. Only the Presidential Accent remains to be obtained.

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Not a stranger to delivering results when given a job, before his appointment to the present position, as SA to the Honourable Minister of Housing & Urban Development, Osidi had successfully led a Team to develop the Honourable Minister’s blueprint to align with President Tinubu’s Renewed Hope Agenda and Action Plan for housing under the Minister’s strategic actionable themes as follows:
Establishment of a credible, scientific and reliable housing data for planning and policy formulation;
Boosting institutional capacity of Agencies under the Ministry to deliver the Renewed Hope Vision for Housing;
Increasing supply of affordable housing;
Framework for implementing historic Land Reforms;
Establishing the National Social Housing Fund;
Establishing a building materials hub in each of the six geopolitical zones of the country;

HONOURS/ RECOGNITIONS:
While at Afribank Plc, he won award as the Most Outstanding Branch Manager for Abuja Region in 2009.

COURSES/ TRAININGS ATTENDED:
Osidi has so far attended the following courses, both locally and internationally, to wit:
1) Accessing Global & Financial Resources for Mass Housing, (Ashford & Mcguire Consulting) London, UK (2011);
2) Global Best Practices in Public Finance Management (J. K. Consulting Ltd) Dubai, United Arab Emirates (2012);
3) Workshop on Implementation of International Financial and Reporting Standard – IFRS (Fina Quest Training Ltd), London, UK (2013);
4) International Executive Communication/Project Management Workshop (Channelkoos Media Consult Ltd) Las Vegas, USA (2014);
5) Leadership Decision-Making: Optimizing Organizational Performance, Harvard Kennedy School of Government, Harvard University, USA (2014);
6) Conference on Diaspora Mortgages – Tour to New York and Maryland, USA and Paper presentation to Nigerians in the Diaspora, Office of Nigeria’s Permanent Representative to the United Nations, Washington DC, USA (2014);
7) International Housing Finance Course, Wharton School, University of Pennsylvania, Philadelphia, USA (2014);
8) Study Tour on Diaspora Mortgages to Ghana Home Loans, Accra Ghana (2015);
9) Annual General Meeting/Conference of Shelter Afrique, Kigali, Rwanda (2015);
10) African Union for Housing Finance Conference, Abidjan, Cote D’Ivoire (2018);
11) Annual Investment Summit, Dubai, UAE (2019);
12) Conference on Diaspora Investment Opportunities in Nigeria, London, UK (2019);
13) Annual General Assembly of Association of African Development Finance Institutions (AADFI), Malabo, Equatorial Guinea (2019);
14) Investment Opportunities for Housing Finance in Nigeria, Moscow, Russia (2019);
15) Annual General Meeting, African Union for Housing Finance (AUHF), Cape Town, South Africa (2019).

HOBBIES/ FAMILY:
The new MD/ CEO hobbies include reading, travelling and playing badminton. He is happily married with children.

Adamu wrote in from Keffi- Nasarawa state.

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Pan-African Student Movement Lauds Ogun State Police Leadership

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The Progressive Students Movement (PSM), a leading Pan-African student body, has commended the leadership of the Nigeria Police Force (NPF) in Ogun State under Commissioner of Police (CP) Lanre Ogunlowo, PhD, for its commitment to security and community engagement.

In a statement released on Thursday, the President of PSM Nigeria, Comrade Ambassador Okereafor Bestman, highlighted the CP’s efforts in strengthening collaboration between the police, stakeholders, and other security agencies to maintain peace and stability in the state.

“It is worthy of note that CP Lanre Ogunlowo, PhD, has further fostered a harmonious working synergy between the police, stakeholders, and other security agents aimed at ensuring peace and tranquility in Ogun State,” Okereafor said.

The student leader expressed confidence in CP Ogunlowo’s leadership, stating that Ogun State is on track to becoming one of the most peaceful states in Nigeria under his administration.

He also praised the professionalism and dedication of the Ogun State Police Command in tackling crime, regardless of its scale.

Additionally, PSM acknowledged the Ogun State government’s continued support for security agencies, particularly in providing mobility and logistics to enhance their operational efficiency.

The commendation comes at a time when security remains a top priority for residents and authorities in the state, with ongoing efforts to curb crime and ensure public safety.

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Opinion

UBEC: Synergising and Collaborating with Security Agencies to Promote Basic Education

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BY ABUBAKAR YUSUF

On assumption of duty in January, 2025 , the new Universal Basic Education Commission, UBEC, Boss and well grounded World Bank expert , Aisha Garba envisaged the need to reposition the Basic Education through interfacing with the critical stakeholders.

Amongst them is the office of the National Security Adviser , NSA, led by Malam Nuhu Ribadu whose achievements in the last few years in the area of security has become distinct and outstanding.

Therefore, seeking to cooperate and collaborate with the office became germane and needful particularly the protection of lives and properties of actors in the promotion of Basic Education ranging from the pupils , teachers , workers and facilitators to enable it drive the new wave to curb Out of School Children OOSC in the country.

Aside providing the basic security arrangements for schools , the need to engage the security apparatus at the level of National Security Adviser NSA became needful, so as to address the sophistry of security problems in the country, to nip in the bud any unforseen circumstances.

With the high rates of kidnappings, abduction , banditry, cattle rustling, ritual tendencies among many other vices, the idea of bringing on board , the security architecture of the country in all ramifications will assist the commission to consolidate the implementation of Basic Education policies and programs, also introduce new ones .

Since pupils at the Primary, Junior Secondary and Secondary Schools are prone to such ugly development and security issues , the need to be proactive on the part of the commission became timely and desiring.

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This led to the success story of the bilateral interface between the management of the commission and NSA, to streamline, perfect and chart a new course on the issue of security of actors in the Basic Education.

The visit described as timely and long overdue, discussed fruitfully the way forward and the immediate and long term intervention of both agencies in the area of collaboration.

According to the Executive Secretary, Universal Basic Education Commission UBEC, Dr Aisha Garba she stated by discussing” strategic initiatives aimed at enhancing educational access and security in Nigeria. ”

She further said” the engagement focused on strategies to address challenges such as the safety of schools, particularly in vulnerable regions, and the promotion of equitable education for all children.”

“the meeting highlighted the critical intersection between education and national security and the need for collaboration between UBEC and Office of the National Security Adviser (ONSA), on improving access to basic education and safety of safety schools across the nation. ”

“This collaboration underscores the government’s commitment to fostering a secure and inclusive learning environment as part of its broader agenda to strengthen the nation’s educational framework,” it added.

“UBEC boss had pledged to engage critical stakeholders to break down barriers to education and create inclusive learning opportunities for children across the six geopolitical regions of the country.”

“She said: “My goal is to deliver on this mandate which includes strengthening collaboration, partnerships and institutional learning for effective service delivery. ”

“Together, we will work to increase access, improve quality, provide conducive and safe learning environments, supply adequate teaching and learning materials, and adopt the concept of ‘best fit’ in addressing specific basic education challenges, state by state and region by region”.

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Highlights of the program which included the engagement of both bodies with a commitment to ensure the introduction of security architecture in schools in Nigeria is achievable.

Written BY ABUBAKAR YUSUF on yus.abubakar3@gmail.com.

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Opinion

Festus Adedayo’s Attack on Adewole Adebayo: When Bias Masquerades as Critique

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By Stephen Adewale

This rejoinder is a response to a column that graced the pages of the Nigerian Tribune on March 16, 2025, titled “Nasir El-Rufai and the Philosophy of Nothing.” The piece was penned by none other than Festus Adedayo, one of my cherished wordsmiths, a maestro of prose whose pen drips with both wit and wisdom.

Adedayo has long held a prime spot in my literary affections for reasons beyond mere admiration. First, we both hail from the illustrious Akure Oloyemekun, a shared heritage that makes his brilliance a source of personal pride. There is something uniquely gratifying about watching a kinsman wield the pen with such devastating elegance, weaving words as effortlessly as a bard conjuring magic. Second, in an era where original thinkers are as scarce as rain in the heart of harmattan, Adedayo stands tall as a relic of intellectual abundance. His columns have, for years, been my weekly ritual, a delectable dish of analysis served with just the right amount of audacity.

Regrettably, the unrelenting demands of academia had deprived me of Adedayo’s literary ambrosia for the past three weeks. Resolute in my quest for redemption, I consecrated my Sunday morning to devouring Adedayo’s recent columns, much like a parched wanderer stumbling upon an oasis of forbidden wisdom. And then, lo and behold, the last paragraph of the aforementioned column stopped me in my tracks. It was not just a paragraph; it was a gauntlet thrown, a provocation that demanded and commanded a response. And so, here I am, pen in hand, ready to engage.

In the preceding paragraphs, Adedayo took great pains to dissect El-Rufai’s defection to the SDP, wielding the philosophy of nothingness like a sculptor chiselling away at what he believed to be a futile political move. He argued, with the confidence of a man who has peered into the future, that El-Rufai’s new political adventure would amount to precisely nothing. Fair enough. He is entitled to his opinions, and I bear him no grudge for his gloomy prophecy. After all, time is the ultimate arbiter of political fortunes.

However, just when one thought the column was a masterclass in political critique, Adedayo took a reckless detour in the final paragraph, committing what can only be described as a literary felony. In one fell swoop, he attempted a hatchet job on the political integrity of SDP’s 2023 Presidential Candidate, Adewole Adebayo. Quoting him, he said ‘my excitement at the potentials of SDP as a viable opposition suffered a momentary halt almost immediately that same last week. Adewole Adebayo, 2023 presidential candidate…had come on an interview session on a national television. I had heard of his trumped up brilliance from journalists who earlier interviewed him.’

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To begin with, Adedayo’s statement exposes one of two possibilities; either he is woefully out of touch with the political landscape or he is deliberately peddling falsehoods in service of some unseen paymaster. Or how else can one explain his audacious claim that he had never encountered Adewole Adebayo’s interviews on national television before the week in question?

Adebayo has been a towering presence in the public space since January 2022, when he declared his presidential ambition. He has graced national television countless times, dissecting policies with the precision of a seasoned statesman, not merely critiquing but offering well-reasoned alternatives. His interviews have been clipped, shared, and dissected across social media, yet Festus Adedayo, an otherwise astute columnist, would have us believe that he only stumbled upon Adebayo’s rhetoric through second hand whispers from journalist friends. The claim is as implausible as it is suspicious, making one wonder if his sudden epiphany was less of an honest discovery and more of a scripted hit job.

Then he went on to claim that ‘at that interview session, gradually, Adebayo defrosted all those superlatives with which he was robed. By the time the interview session ended, in place of a huge turkey with huge feathers I expected to encounter, I was left with a species of hen Yoruba call “Adiye opipi”. This type of hen is known by a unique characteristic of featherless wings. Adebayo came across as this and much more. I saw a man who delights in a horse ride that takes place on the back of a cockroach. When you see such politicians, your mind races to a spent canister.’

There is a Yoruba adage that warns, “Ibi tó yẹ ká tíbá ọgbọ́n, a ò gbùdó bá àgò nbẹ,” meaning that where one expects wisdom, it would be a grave disappointment to find foolishness instead. Unfortunately, this perfectly captures the bewildering blunder committed by Festus Adedayo.

One would assume that a seasoned columnist of his caliber would back his scathing critique with substance. At least a direct quote or a reference to the supposedly underwhelming statement that shattered his lofty expectations of Adewole Adebayo would suffice. Yet, in a display of either intellectual laziness or calculated deception, Adedayo offers none.

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Since he conveniently avoids mentioning the specific interview that triggered his so-called disappointment, and given that Adebayo only appeared on Arise TV’s breakfast show during the week in question, it is clear that Adedayo was referring to that particular session. However, rather than provide any real context, he chose to shroud the event in ambiguity, hoping to mislead the unsuspecting public. Since he won’t do the honours, it is only right to offer a brief, unvarnished account of what truly transpired during the interview he so artfully distorted.

A few days before the said interview, Ayo of Arise TV blatantly misled viewers by falsely claiming that Adewole Adebayo had betrayed his supporters before the 2023 elections, endorsing President Tinubu and urging his followers to do the same. She went further, labelling him a politician devoid of principle.

When Adebayo finally appeared on Arise TV, he firmly set the record straight. He ran the race to the very end, never endorsed Tinubu, and never worked for the APC government, despite numerous inducements. He rightfully demanded an apology, but Ayo stood her ground. However, when the Arise TV crew presented what they called “evidence,” it backfired spectacularly, proving Adebayo right and exposing their deception. It was a textbook case of attempted character assassination gone embarrassingly wrong.

So, this was the interview that left Festus Adedayo “disappointed” in Adebayo, an interview where a man stood his ground against blatant falsehoods. When a self-proclaimed crusader of truth suddenly finds fault in someone defending himself against lies, perhaps it’s time to scrutinise the so-called champion of integrity. When a supposed high priest of truth suddenly takes issue with a man standing firm against lies, perhaps the high priest’s own altar is due for inspection.

Rather than call out Arise TV for their desperate attempt at character assassination, our esteemed “writer of truth” chose the path of deception by conveniently omitting the actual events. Instead of holding liars accountable, he doubled down, subtly trying to drag a principled man deeper into the mud. If this is what passes for truth-telling, then perhaps Festus Adedayo has been writing fiction all along.

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Festus Adedayo, in his infinite journalistic wisdom, managed to compress the entire essence of a man’s political ideology, years of intellectual engagement, and national contributions into the span of one interview. A man whose intellectual sagacity had only been whispered to him in passing by his journalist friends, yet he deemed himself qualified to pass a grand verdict!

His article, ostensibly about the SDP, quickly revealed itself as something else entirely; a well-tailored hit piece, stitched together with just enough cynicism to fulfill the desires of some lurking, unnamed paymaster. He spent paragraph after paragraph dismissing the SDP as an unworthy alternative, regardless of who joined, and then, as the grand finale, he wielded his last paragraph like a dagger to stab the reputation of the very man who has kept the party afloat since 2023. If there was ever a masterclass in agenda-driven writing disguised as political analysis, Adedayo just delivered it with the precision of a seasoned mercenary.

Criticism, when wielded with sincerity, serves as a scalpel, precise, constructive, and capable of refining its subject. But when used recklessly, it becomes a sledgehammer, destructive, indiscriminate, and serving no purpose beyond ruin. At a time when Nigeria teeters on the edge of existential crises, what we need are columnists who illuminate the path forward, not those who revel in the theatrics of demolition.

This is why it is profoundly disheartening to see Festus Adedayo, once a beacon in the murky waters of Nigerian columnists, take a detour into the alley of agenda-peddling. Nigeria is not merely in need of critics; it is in need of honest critics. It is in need of voices that challenge, correct, and inspire, not those who merely regurgitate the cynicism that has already poisoned our media space.

I have always admired Festus Adedayo, but his portrayal of Adewole Adebayo is a painful reminder that even the brightest stars can flicker. To watch someone we once held as a paragon of journalistic integrity stumble into the company of the ethically compromised is not just disappointing, it is a national tragedy. If even the ‘good ones’ can abandon sincerity for sensationalism, then truly, the night is darker than we feared.

*Stephen Adewale writes from the Department of History, Obafemi Awolowo University*

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