Buhari appoints Madu as the new CEO of the Federal Mortgage Bank and reconstitutes the board of directors.

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

Ahmed Dangiwa, the outgoing MD, took over from Richard Esin, who served in an acting capacity following Gimba Ya’u Kumo’s term.

The President also gave his approval to the FMBN Board of Directors being reconstituted.

Madu, the North-East zone representative, has worked in the mortgage market for over 30 years.

The North-West will be represented by Umar Zubaida, Executive Director, Finance and Corporate Services.

The South-South is represented by Chukwuma Kingsley, Executive Director, Business Development & Portfolio Management (BD&PM).

The North-Central region is represented by Mustapha Lukman Olayiwola, Executive Director, Loans & Mortgage Services (L&MS).

The Federal Ministry of Works and Housing is represented by Asein Abimbola from the Southwest, while the Public is represented by Ejezie Sandra Nkechi from the Southeast.

The new board, which includes two officials from the Central Bank of Nigeria (CBN), began its term on April 13, 2022.

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