FHA MD Oyetunde Ojo Overcomes N12bn Deficit, Contributes N3bn

Hon Oyetunde Ojo, the Managing Director/Chief Executive of the Federal Housing Authority (FHA), announced that his leadership has successfully transformed the agency from a state of moribundity to a revenue-generating body. Upon assuming office two years ago, Ojo faced a debt burden exceeding N12 billion, with staff owed salaries and allowances.

Through resilience and anti-corruption initiatives, his team managed to eliminate the deficit within a year and contributed N3 billion to the federation account in July 2023, with expectations to increase this to N6 billion by December 2023. Ojo emphasized that the agency has been able to pay staff salaries regularly without federal government subventions and has also invested in staff training across Nigeria.

Professor Sheriff Ghali Ibrahim, the Provost of the Anti Corruption Academy of Nigeria (ACAN), presented Ojo with an award of excellence for his efforts in combating corruption within the FHA.