FG RECONSTITUTES BOARD OF FMBN

The Federal Government has approved the reconstitution of the board of the Federal Mortgage Bank of Nigeria (FMBN).

A statement from the office of the Special Assistant (Media/Admin) to the Minister of Lands, Housing and Urban Development, Ibanga Isine, said the minister, Nduese Essien made this known in Abuja on Thursday.

Under the new arrangement, the former chairman of the Board, Chief Atta Adedamola Adi, has retained his position while Mr. Gimba Yau Kumo has been appointed managing director of the apex mortgage bank.

Until his appointment, Kumo was a commissioner representing North East zone at the Fiscal Responsibility Commission.

Other members of the board include, Mr. Newman Ordia, a lawyer and banker, who has been reappointed executive director, Mr. Bello, Yakubu Aminu, a former senior staff of the Central Bank of Nigeria and Mr. Bola Ogunsola, a deputy general manager and chief executive officer of Mortgages PHB.

The Acting Managing Director and longest serving General Manager of the bank, Mr. Mike Nwogbo, has been appointed executive director while Dr. John John Udofia, former Managing Director of the erstwhile Cooperative Development Bank has been appointed into the board to represent general interest.

The Federal Ministry of Lands, Housing and Urban Development and the Central Bank of Nigeria are expected to appoint one and two persons respectively to represent them on the board.