• Thursday, May 23, 2024
businessday logo

BusinessDay

Infinity Trust Mortgage Bank appoints new directors

ITMB partners ICPC, Gefen to develop estate, offer finance

Infinity Trust Mortgage Bank Plc, a Nigerian-based financial institution, has announced the appointment of new directors.

The appointment of Abubakar Muhammad, Eniola Bibilari, and James Odegwai Ahmed, followed the retirement of Tunde Olaleke, Akin Arikawe, and Dada Ademokoya, according to a statement.

Read also: Infinity Trust Mortgage Bank posts N847m profit

“The Board of Directors of Infinity Trust Mortgage Bank Plc (the “Bank”) hereby notify the Nigeria Exchange Limited and members of the public, particularly the Shareholders of Infinity Trust Mortgage Bank Plc, of the approval of the appointment of the following Directors by the Central Bank of Nigeria: Abubakar Muhammad (Non-Executive Director), Eniola Bibilari (Non-Executive Director) and James Odegwai Ahmed (Independent Director),” the statement said.

It added that the new directors will replace Tunde Olaleke, Akin Arikawe, and Dada Ademokoya; who retired as Directors of the Bank, having completed their statutory tenure.

The statement said, the bank is one of the leading primary mortgage Banks in Nigeria, has increased its shareholders’ funds from less than N50 million in 2003 to over N7.1 billion, and maintained an unbroken record of consistency in dividend payment to shareholders for 17 years running.

“Infinity Trust Mortgage Bank has wholly or partly financed no fewer than 20 modern estates in Abuja, Lagos, Nasarawa, and Ogun State, thereby providing decent and affordable accommodation to over 10,000 Nigerian families,” it added.