President Buhari also approved the reconstitution of FMBN Board of Directors.

Hamman Madu has been appointed as the new Federal Mortgage Bank of Nigeria (FMBN) Managing Director by President Muhammadu Buhari.

The outgoing MD, Ahmed Dangiwa, took over from Richard Esin, who served in an acting capacity after the tenure of Gimba Ya’u Kumo.

The President also approved the reconstitution of FMBN Board of Directors.

Madu, the North-East zone representative, has over 30 years experience in the mortgage industry.

Umar Zubaida, Executive Director, Finance and Corporate Services was named to represent the North-West.

Chukwuma Kingsley, Executive Director, Business Development & Portfolio Management (BD&PM) represents the South-South.

Mustapha Lukman Olayiwola, Executive Director, Loans & Mortgage Services (L&MS) represents the North-Central.

Asein Abimbola, from the Southwest, represents the Federal Ministry of Works and Housing; Ejezie Sandra Nkechi, from the Southeast, represents the Public.

The tenure of the new board, which includes two Central Bank of Nigeria (CBN) representatives, started April 13, 2022.

However, that of the Chairman, Ayodeji Ariyo Gbeleyi, took effect from January 5, 2022.