By Uthman Salami
Mr. Kabir Yagboyaju has formally been announced and assumed duty as the Acting Managing- Director of the Federal Mortgage Bank of Nigeria (FMBN).
This came on the heels of the stepping down of the immediate past Managing- Director of the bank, Mr Ahmed Dangiwa, after the expiration of the 5-year tenure of the Executive Management Team on Friday, April 8, 2022.
This disclosure is contained in a statement issued by the Head, Corporate Communications, FMBN, Mr. Lawal Sauri during the week in Abuja.
According to the bank, the formal handing over ceremony took place at the bank’s Corporate Headquarters in Abuja and also had in attendance, the Chairman, FMBN Board of Directors, Mr. Ayodeji Gbeleyi.
Mr. Yagboyaju was the most senior General Manager and the Group Head, Risk Management before his recent appointment.
The statement showed that the new Acting MD 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 FMBN for almost 16 years and acquired vast experience in the management of the National Housing Fund (NHF) Scheme.
Other units include, FMBN Branch Operations, Treasury Services and Capital Market Operations, Human Resources Management, Loans and Mortgages, and Risk Management.
Yagboyaju 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.
Yagboyaju had acquired various professional qualifications including/ 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 other qualifications.
He had attended various training programmes both within and outside the country.
Yagboyaju, during the handover ceremony, outlined his immediate priorities to include: Monitoring of all ongoing housing development projects to ensure the bank’s investments were properly 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 Recapitalisation of the Bank.
“Turn-around time on service delivery, focus on the bank’s five-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.”