President Buhari Appoints Madu MD Federal Mortgage Bank, Reconstitutes Board

President Muhammadu Buhari has approved the appointment of Hamman Madu as Managing Federal Mortgage Bank of Nigeria and the reconstitution of the board with a view to repositioning the bank as a core banking institution with core competence in mortgage finance.

Recall that the President had, in January this year, appointed Mr Ayodeji Ariyo Gbeleyi, a Chartered Accountant and a well-known financial expert as Chairman of the Board.

In a statement issued by the Senior Special Assistant to the President Garba Shehu, the new Board constitutes Hamman Madu representing the Northeast zone with a background of over 30 years in the mortgage industry is the Managing Director/ Chief Executive Officer.

Other members are Umar Zubaida, Executive Director, Finance and Corporate Services representing the Northwest zone; Chukwuma Kingsley, Executive Director, Business Development & Portfolio Management (BD&PM) representing the Southsouth zone, Mustapha Lukman Olayiwola, Executive Director, Loans & Mortgage Services (L&MS) representing the Northcentral zone.

Then Asein Abimbola from the Southwest zone represents the Federal Ministry of Works and Housing, Ejezie Sandra Nkechi, Southeast, represents 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, Mr Ayodeji Ariyo Gbeleyi whose appointment took effect from January 5, this year.