New leadership pledges to grow MBAN’s business size, promote collaboration

A new leadership of Mortgage Banking Association of Nigeria (MBAN) has just emerged, pledging to grow the sub-sector base and business size of the association, as well as promote collaboration among members.

MBAN is an umbrella body of primary mortgage banks licensed by the Central Bank of Nigeria (CBN), and registered mortgage brokerage companies. It is a self-regulatory organization dedicated to promoting the growth and development of mortgage banking and housing finance sub-sector in Nigeria.

A new set of executive officers making up the leadership of the association were elected recently at its Biennial General Meeting. Ayo Olowookere, the managing director of Imperial Homes Mortgage Bank, was elected president and chairman of the National Executive Council (NEC).

In addition to growing the association’s business size, and promoting collaboration, Olowookere also pledged that, along with his team, he will create a more efficient and effective Secretariat by re-tooling and restructuring it.

“We are small; so we need to collaborate rather than compete,” he said in a statement obtained by BusinessDay, adding that his leadership will foster inclusivity and a sense of belonging among members.

“We will commit to providing a unified and inclusive organization that delivers solutions and benefits to all corporate and individual members,” he assured, disclosing that the election of the new executives is part of efforts to “positively transform the mortgage sector of the economy.”

Olowookere is a seasoned finance executive with over 20 years in financial services, banking and real estate finance. He has a degree in Industrial Chemistry from the University of Lagos and MSc Finance from TIAS Business School. Before joining Imperial Homes as Managing Director in 2019, he was the managing director of Living Trust Mortgage Bank Plc from 2015 to 2019.

He started his career at KPMG and proceeded to ARM before transitioning to mortgage banking financial services sub-sector. Oloowokere is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an Alumnus of the Harvard Business School.

He was elected president of MBAN along with Adigwe Arinze, vice president and MD of Homebase Mortgage Bank and Ime Okon, deputy president, East of the council and managing director of Awka Savings.

Others are Bolaji Adewunmi, managing director of Abbey Mortgage Bank, Olumide Adedeji, managing director of Living Trust Mortgage Bank, as well as Joan Adenuga, Legal Adviser.

Mac-Yoroki, who is the immediate past president of the association and managing director of Citycode Mortgage Bank, is an ex-officio member of the national executive council.