FMBN Gets Yagboyaju as New Acting Managing Director

Mr Kabir Yagboyaju who was appointed as the Acting Managing Director of the Federal Mortgage Bank of Nigeria (FMBN) has formally assumed duty.

Yagboyaju’s emergence followed the stepping down of the immediate past Managing Director of the bank, Mr Ahmed Dangiwa, after ending the 5-year tenure on Friday, April 8, 2022.

Head, Corporate Communications, FMBN, Mr Lawal Sauri, on Saturday in Abuja made this disclosure in a statement issued, adding that the formal handing over ceremony took place at the bank’s Corporate Headquarters in Abuja and in attendance, the Chairman, FMBN Board of Directors, Mr Ayodeji Gbeleyi.

Prior to his appointment as the acting Managing Director, FMBN, Mr Yagboyaju was the most senior General Manager and the Group Head, Risk Management.

Yagboyaju 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, 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, stated that his immediate priorities to include: Monitoring of all ongoing housing development projects to ensure the bank’s investments were properly recovered.

Yagboyaju  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.’’