‎The Managing Director/Chief Executive of the Federal Mortgage Bank of Nigeria (FMBN), Shehu Usman Osidi, has called for direct engagement and collaborative problem-solving in addressing mortgage related challenges, stressing that such an approach is more effective than prolonged correspondence.

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‎Osidi stated this when he received the management of Abuja Property Development Company (APDC) Ltd., led by its Acting Managing Director, Akeem Kolawole Aderogba, during a courtesy visit to the Bank's Management at its head office in Abuja on Thursday, September 3, 2026.

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‎APDC had visited the Bank to discuss outstanding issues affecting the disbursement of funds to some of its subscribers, seek FMBN’s intervention in resolving related legal and documentation matters, and explore ways of strengthening the longstanding partnership between both organisations.

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‎In his response to the requests advanced by the delegation, Osidi assured that FMBN would take immediate steps to address the issues raised, directing the establishment of a technical committee comprising relevant officials of the Bank and representatives of APDC to review the outstanding matters and agree on practical steps towards their resolution.

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‎On the delayed disbursements, Osidi directed that the affected cases be identified and the specific causes of the delays established for prompt resolution. He noted that such delays could arise from documentation gaps, outstanding requirements, verification issues or matters relating to the status and operations of some PMBs, among other transaction-specific issues. 

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He also called for a framework to address delays in the retrieval of relevant documents, noting that establishing the specific cause in each case would facilitate appropriate action.

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‎Addressing the issue of moribund PMBs, Osidi explained that FMBN had introduced the NHF Direct initiative to protect the interests of NHF subscribers where a PMB becomes inactive or ceases operations. Under the initiative, affected subscribers are identified and engaged directly by the Bank, enabling them to make payments directly to FMBN.

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‎Osidi further commended APDC for its longstanding relationship with the Bank, describing the partnership as mutually beneficial and expressing the Bank’s readiness to strengthen the relationship.

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‎Speaking earlier, Mr. Aderogba highlighted APDC’s longstanding partnership with FMBN, noting that the relationship dates back to 2013. He recalled that FMBN approved an Estate Development Loan of ₦1.5 billion for the company, out of which ₦260 million was disbursed, with the facility fully repaid in 2019.

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‎The APDC Acting Managing Director further invited the FMBN MD/CE to the company’s 20th anniversary celebration scheduled for October. The anniversary, themed “From Foundation to Landmark: Building Communities and Enriching Them,” will celebrate APDC’s two decades of operations and its contribution to community development.

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‎The engagement ended with an agreement for a technical team composed of members from both organisations to work together towards resolving the outstanding issues and strengthening the framework for future collaboration.

In attendance at the meeting were the Bank's Executive Directors of Loans and Mortgage Services, Dr. Muhammad Sani Abdu and Business Development and Portfolio Management, Mrs. Chinenye Chinedu Anosike.

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