Buhari Reconstitutes Board of FMBN, Names Hamman Madu MD

Deji Elumoye in Abuja 

President Muhammadu Buhari has approved the reconstitution of the Board of the Federal Mortgage Bank of Nigeria.
The move, according to a release issued Thursday by presidential spokesman, Mallam Garba Shehu, is aimed at repositioning the bank as a core banking institution with core competence in mortgage finance.
The president had, in January 2022, appointed Mr Ayodeji Ariyo Gbeleyi, a Chartered Accountant and a well-known financial expert, as Chairman of the Board.

In the new Board, Hamman Madu representing the North-east zone with a background of over 30 years in the mortgage industry is the Managing Director/Chief Executive Officer.

Other members of the Board are Umar Zubaida, Executive Director, Finance and Corporate Services representing the North-west zone; Chukwuma Kingsley, Executive Director, Business Development & Portfolio Management (BD&PM) representing the South-south zone; Mustapha Lukman Olayiwola, Executive Director, Loans & Mortgage Services (L&MS) representing the North-central zone; Asein Abimbola from the South-west zone representing the Federal Ministry of Works and Housing; Ejezie Sandra Nkechi, South-east, representing the public, as well as two representatives of the Central Bank of Nigeria.

The appointment of the Board takes effect from April 13, 2022 with the exception of the Chairman, Gbeleyi, whose appointment took effect from January 5, this year.