Buhari Reconstitutes Federal Mortgage Bank Board

Nigerian President, Muhammadu Buhari has ordered the reconstitution of the Board of the Federal Mortgage Bank.

This was made known in a statement issued on Thursday by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu.

The presidential spokesman said the appointment of the Board takes effect from April 13, 2022, with the exception of the Chairman of the board, Ayodeji Ariyo Gbeleyi who was appointed on January 5.

According to the statement, the President appointed Hamman Madu representing the North-East zone as the bank’s Managing Director/Chief Executive Officer.

President Buhari also appointed Umar Zubaida representing the Northwest zone was appointed as the Executive Director, Finance and Corporate Services of the bank, while Chukwuma Kingsley (South-South) was appointed as Executive Director, Business Development & Portfolio Management (BD&PM).

Mustapha Lukman Olayiwola representing the Northcentral zone was appointed as the Executive Director, Loans & Mortgage Services (L&MS).

The President in January 2022, appointed Ayodeji Ariyo Gbeleyi, a Chartered Accountant and a well-known financial expert as Chairman of the board.

Others are; Asein Abimbola from the South West zone representing the Federal Ministry of Works and Housing; Ejezie Sandra Nkechi from the South East, representing the public as well as two representatives of the Central Bank of Nigeria (CBN).

Shehu stated that the reconstitution was to reposition the bank as a core banking institution with core competence in mortgage finance.