Buhari approves reconstitution of board of Federal Mortgage Bank

President Muhammadu Buhari has approved the reconstitution of the Board of the Federal Mortgage Bank of Nigeria, according to a statement by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu.

The statement said the president’s decision was with a view to repositioning the bank as a core banking institution with core competence in mortgage finance.

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 South-South zone.

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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.