President Muhammadu Buhari has approved the reconstitution of the Board of the Federal Mortgage Bank of Nigeria.

This latest development was with a view to repositioning the Federal Mortgage Bank as a core banking institution with core competence in mortgage finance.

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

Recall that the President had, in January 2022, appointed a Chartered Accountant and financial expert, Mr Ayodeji Ariyo Gbeleyi, 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.

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Other members are 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; Mustapha Lukman Olayiwola, Executive Director, Loans and 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.

Shehu stated that the appointment of the Board takes effect from April 13, 2022, with the exception of the Chairman, Mr Ayodeji Ariyo Gbeleyi whose appointment took effect from January 5, 2022.

The Star