Mr. Kabir Adeniyi Yagboyaju has assumed the role of the acting Managing Director/ Chief Executive Officer of the Federal Mortgage Bank of Nigeria (FMBN). Yagboyaju's emergence followed the expiration of the five-year tenure of the Arc. Ahmed Dangiwa-led Executive Management Team on Friday, and the formal handover ceremony at the FMBN corporate headquarters, Abuja. In a statement signed by the Group Head, Corporate Communications FMBN, Lawal K/Sauri, the apex mortgage bank disclosed that the new Ag. MD was the most senior general manager and group head in the organization.
The statement reads in part: "The new Acting MD/CE, FMBN is an economist, financial analyst, and customer service expert with almost 30 years of working experience in the banking industry involving commercial, merchant, and mortgage banking institutions. He has worked with the Federal Mortgage Bank of Nigeria for almost 16 years and acquired vast experience in the management of the National Housing Fund (NHF) Scheme, FMBN Branch Operations, Treasury Services and Capital Market Operations, Human Resources Management, Loans and Mortgages, and Risk Management.
"He holds a B.Sc. degree in Economics and a master’s degree in Business Administration from Lagos State University, Ojo and University of Lagos, Akoka respectively.
"In addition, he has acquired various professional qualifications including those of Chartered Institute of Bankers of Nigeria (CIBN), Nigerian Institute of Management (NIM – Chartered), Licensed International Financial Analyst (Canada), and Fellow Institute of Credit Administration. He has attended various training programs both within and outside the country, including but not limited to the following: Treasury Bourse Game (CitiBank, Turkey), EuroMoney Treasury Management Course, Wharton Business School Housing Finance Program, Senior Management Program (Lagos Business School) etc. He is currently rounding-up with his Ph.D. program in Marketing."
Speaking, Mr. Yagboyaju commended the outgoing leadership of the bank, noting their efforts in steering the bank towards better service delivery and performance, and also, admonished staff of the FMBN to cooperate with his leadership in achieving the bank's five-year strategic plan (2020-2024) in a bid to make the bank a global institution of repute.
He said, “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 5 million to 25 million new contributors to be drawn mostly from the informal sector.
“We must be profitable by delivering value to our loyal customers, the NHF contributors, who have been with us through thick and thin. The task of making FMBN a great institution is one that we must achieve,” he noted.
