Infinity Trust names Luqman Bakare new managing director

Infinity Trust Mortgage Bank Plc has appointed Luqman Bakare as its substantive managing director and chief executive officer, marking a new phase in the bank’s growth and digital transformation agenda.

 

According to a statement by the bank, the appointment, which took effect on June 8, 2026, is subject to the requisite approval of the Central Bank of Nigeria (CBN).

 

Bakare succeeds Ngozi Chukwu, who had been serving as the bank’s acting managing director and chief executive officer.

 

The new MD brings more than 35 years of experience in Nigeria’s banking, manufacturing, and oil and gas sectors. Before his appointment, he served as general manager and regional executive (Lagos) at First Trust Mortgage Bank Plc, where he played a key role in business development and strategic operations.

 

An alumnus of the University of Ibadan, Bakare holds both Bachelor of Science and Master of Science degrees in Economics, with specialisations in Monetary, Energy and Petroleum Studies.

 

He has also attended several professional courses within and outside Nigeria and is an Honorary Member of the Chartered Institute of Bankers of Nigeria as well as a Fellow of the Institute of Credit Administration.

 

Founded in 2002, Infinity Trust Mortgage Bank has grown from a regional mortgage institution headquartered in Abuja into one of Nigeria’s leading national primary mortgage banks, with a focus on expanding access to affordable housing.

 

The leadership transition comes as the bank pursues an ambitious transformation strategy aimed at strengthening its market position. As part of the plan, Infinity Trust Mortgage Bank announced its intention to raise N50 billion in fresh capital to support its transition into a full-fledged digital commercial bank, with a focus on serving underserved micro, small and medium enterprises (MSMEs) and the unbanked population.

 

The bank has also made significant contributions to Nigeria’s housing sector, having financed more than 20 modern housing estates and facilitated homeownership for over 10,000 families across the country.

 

Bakare’s extensive experience in financial services and strategic management is expected to support the bank’s expansion plans and drive its next phase of growth.