The Federal Mortgage Bank of Nigeria‘s new Acting Managing Director, Kabir Yagboyaju, has formally assumed duty.
Ahmed Dangiwa, the bank’s immediate past Managing Director, stepped down on Friday, April 8, 2022, after the Executive Management Team’s 5-year tenure came to an end.
Lawal Sauri, the FMBN’s Head of Corporate Communications, issued a statement on Saturday in Abuja revealing this information.
The formal handing over ceremony, according to Sauri, took place at the bank’s Corporate Headquarters in Abuja, with the Chairman of the FMBN Board of Directors, Ayodeji Gbeleyi, in attendance.
Yagboyaju was the most senior General Manager and Group Head, Risk Management at FMBN prior to his appointment as acting Managing Director.
He has about 30 years of experience in the banking business, including commercial, merchant, and mortgage banking institutions, as an economist, financial analyst, and customer service expert.
He has about 16 years of experience with the FMBN, including extensive knowledge of the National Housing Fund (NHF) Scheme.
Yagboyaju graduated from Lagos State University, Ojo, with a B.Sc. in Economics and the University of Lagos, Akoka, with a master’s degree in Business Administration.
Chartered Institute of Bankers of Nigeria (CIBN), Nigerian Institute of Management (NIM – Chartered), Licensed International Financial Analyst (Canada), and Fellow Institute of Credit Administration, among others, were among Yagboyaju’s professional qualifications.
He had participated in a number of training programs both inside and outside the country.
Speaking during the handing over ceremony, he listed his top priorities as follows: monitoring all ongoing home development projects to ensure the bank’s assets are fully recovered.
He said, “Ensuring that the bank’s financial ratios with the regulatory authorities are positively improved. Speedy delivery of the bank’s computerization project. Repositioning and Recapitalization of the Bank.
“Turn-around time on service delivery, focus on the bank’s fiveq-year Strategy Plan (2020 – 2024) developed in collaboration with Messrs. KPMG to achieve set targets.
“This includes the delivery of 100,000 housing units, growing annual NHF collections from N50 billion to over N300 billion, expanding the NHF customer base from five million to 25 million.
“We must be profitable by delivering value to our loyal customers (NHF contributors) who have been with us through thick and thin.’’
