President Muhammadu Buhari President Muhammadu Buhari
President Muhammadu Buhari

Buhari approves reconstitution of Federal Mortgage Bank board

NEWS DIGEST – President Muhammadu Buhari has approved the reconstitution of the Board of the Federal Mortgage Bank of Nigeria.

This was contained in a statement by the Senior Special Assistant to the President, Garba Shehu.

According to the statement, the President’s decision is with a view to repositioning the bank as a core banking institution with core competence in mortgage finance.

President Buhari had, in January this year, appointed Mr Ayodeji Ariyo Gbeleyi, a Chartered Accountant and financial expert as Chairman of the Board.

On the new Board, Hamman Madu representing the Northeast zone with a background of over 30 years in the mortgage industry takes the position of  Managing Director/ Chief Executive Officer.

Other members are: Umar Zubaida, Executive Director, Finance and Corporate Services representing the Northwest zone; Chukwuma Kingsley, Executive Director, Business Development & Portfolio Management (BD&PM) representing the Southsouth zone;

Similarly, Mustapha Lukman Olayiwola, Executive Director, Loans & Mortgage Services (L&MS) represents the North-Central zone; Asein Abimbola from the South-West zone represents the Federal Ministry of Works and Housing; Ejezie Sandra Nkechi, South-East, represents the Public as well as two representatives of the Central Bank of Nigeria.

The appointment of the Board takes effect from April 13, 2022, with the exception of the Chairman, Mr Ayodeji Ariyo Gbeleyi whose appointment took effect from January 5, this year.

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