President Muhammadu Buhari on Thursday approved the reconstitution of the board of the Federal Mortgage Bank of Nigeria (FMBN).
A statement by the presidential spokesman, Garba Shehu, said the approval was with a view to repositioning the bank as a core banking institution with core competence in mortgage finance.
Recall that the president in January this year, appointed 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 was appointed as managing director/ chief executive officer.
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Other members of the board approved by the president include Umar Zubaida, executive director, finance and corporate services representing the North-west zone; Chukwuma Kingsley, executive director, business development and portfolio management (BD&PM) representing the South-south zone and Mustapha Olayiwola, executive director, loans & mortgage services (L&MS) representing the North-central zone.
Others include Asein Abimbola from the South-west zone, representing the federal ministry of works and housing; Ejezie Nkechi, South-east, representing the public as well as two representatives of the Central Bank of Nigeria (CBN).
The statement said the “appointment of the board takes effect from April 13, 2022, with the exception of the chairman, Ayodeji Gbeleyi whose appointment took effect from January 5, this year.”
