By Daniel Tyokua
The Federal Housing Authority (FHA) said it has remitted ₦3 billion to the Federation Account in the first half of 2026, marking what the agency described as a major financial turnaround after years of underperformance.
The Managing Director and Chief Executive Officer of the FHA, Oyetunde Ojo, disclosed this on Wednesday in Abuja at the Agency’s headquarters.
He said the Authority is projecting another ₦3 billion remittance before the end of the year, driven by over ₦500 billion in investments under its management following its exit from the Federal Government’s budgetary allocation system.
Ojo also revealed that he inherited about ₦12 billion in unpaid salary arrears and liabilities when he assumed office two years ago but said the debt has now been fully cleared through prudent financial management, due diligence and fiscal discipline.
According to him, the reforms have restored workers’ confidence and repositioned the Authority on a path of financial sustainability.
The FHA boss made the disclosures while receiving an Excellence Award from the Anti-Corruption Academy of Nigeria (ACAN) in recognition of the Authority’s commitment to accountability, transparency and institutional growth.
Ojo said he inherited an agency plagued by decay, low staff morale and operational inefficiency but insisted that difficult management decisions were necessary to reverse the trend.
Among the cost-cutting measures, he said, was the decision not to purchase official vehicles for the management and board, allowing scarce resources to be redirected towards institutional recovery.
He disclosed that the Authority now oversees assets valued at nearly ₦10 trillion, including investments estimated at over ₦500 billion, adding that the agency has also revived its football club as part of efforts to nurture young sporting talents while promoting staff welfare.
He noted that the anti-corruption award reflects the impact of reforms introduced by the current management.
“When I assumed office two years ago, I met an institution in dire straits. It had enormous potential but was grossly underperforming. We had highly skilled professionals who were poorly motivated,” he said.
“Today’s recognition confirms that our efforts are yielding results. We have recorded a significant decline in corruption-related allegations because of deliberate policy reforms, stronger internal systems and a culture of accountability within the Authority,” Ojo added.
Earlier, Provost of the Anti-Corruption Academy of Nigeria, Prof. Sheriff Ghali Ibrahim, said the award was conferred on the FHA Managing Director in recognition of his transformational leadership and commitment to institutional reforms.
He praised Ojo for sanitising the Authority, reducing litigation, strengthening transparency and fostering a culture of integrity.
According to Ibrahim, the FHA has become one of the agency’s strongest institutional partners in promoting anti-corruption values through staff training and capacity building.
He noted that the Authority regularly sponsors personnel to participate in programmes organised by the Academy, with many of the participants excelling during the training.
The provost said the collaboration demonstrates the FHA leadership’s commitment not only to housing delivery but also to building an institution anchored on ethics, accountability and good governance.
