President Muhammadu Buhari has appointed Hamman Madu as the new managing director of the Federal Mortgage Bank of Nigeria (FMBN).
He also approved the reconstitution of the board of directors.
In January this year, Buhari appointed Mr Ayodeji Ariyo Gbeleyi, a Chartered Accountant and a well-known financial expert as Chairman of the Board.
In the new Board, Madu who represents the Northeast zone has a background of over 30 years in the mortgage industry.
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 were also named as members of the board.
Others are Mustapha Lukman Olayiwola, Executive Director, Loans & Mortgage Services (L&MS) representing the North central zone; Asein Abimbola from the Southwest zone representing the Federal Ministry of works and Housing; Ejezie Sandra Nkechi, Southeast, representing the Public as well as two representatives of the Central Bank of Nigeria.
Umar, until her appointment was a general manager, FCT Zonal office of the FMBN.
The appointment of the Board took effect from April 13, 2022 with the exception of the Chairman, Mr Ayodeji Ariyo Gbeleyi whose appointment took effect from January 5, this year.