• Friday, September 29, 2023
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Expectations as Ogundimu takes over as CEO at NMRC

Among stakeholders in the housing and mortgage sectors of the Nigerian economy, expectations are high as Kehinde Ogundimu assumes position as the new managing director/CEO of the Nigerian Mortgage Refinance Company (NMRC).
Ogundimu, a finance professional, is taking over from Charles Inyangete, who retired from the company as pioneer CEO. He is bringing to the company a wealth of experience garnered from years of hands-on-the-plough at both local and international firms.
With a Bachelor of Science (BSc) degree in Electrical Engineering from the University of Ibadan and a Masters in Business Administration (MBA) from the University of Lagos, Ogundimu is coming with over 20 years working experience in financial services (secondary mortgage and diversified banking), energy and public accounting.
NMRC, which was launched in 2014 as a secondary mortgage institution, regards itself as a private sector-driven company with the public purpose of developing the primary and secondary mortgage markets by raising long‐term funds from the domestic capital market as well as foreign markets for providing accessible and affordable housing in Nigeria.
Its mission is to break down barriers to home ownership by providing liquidity, affordability, accessibility and stability to the housing market in Nigeria, and this is where the expectation from the new CEO is chiefly embedded, having worked in similar organisations with results.
A statement by NMRC reveals that Ogundimu, who started out at PriceWaterhouseCoopers and subsequently worked in various capacities at Chevron Nigeria and in the Washington DC at Pepco Energy Services, also had a stint at Freddie Mac, Fannie Mae and finally at Capital One Bank, where he was the head of debt, Derivatives and Securitisation before joining NMRC.
The experience he garnered at Freddie Mac and Fannie Mae, particularly, makes him a fit-to-size chief executive for NMRC whose mandate is to promote wider spread of home ownership with the belief that the inequality created by the lack of affordable housing in Nigeria places a moral obligation on all housing stakeholders to use every tool at their disposal to find solution to providing access to sustainable affordable housing finance.
“A fellow of the Institute of Chartered Accountants of Nigeria (FCA), a member of the American Institute of Certified Public Accountants (CPA) and a Chartered Financial Analyst (CFA) Charter-holder, Ogundimu has also attended several executive management programs in leading educational institutions including Harvard Business School and Gordon Institute of Business Science, University of Pretoria”, the state added.