Dr. Femi Johnson re-elected as MBAN president

MBAN is the Umbrella body for all mortgage banks licensed by the Central Bank of Nigeria to engage in Mortgage Business in Nigeria. Its main focus is to ensure the access to mortgage finance for provision of affordable housing through effective advocacy for improved legal/regulatory/operating environments for home-ownership finance in Nigeria.

The association was incorporated on August 6, 1992 under the Companies and Allied Matters Act (CAMA) and is recognized by the Central Bank of Nigeria (CBN); Nigeria Deposit Insurance Corporation (NDIC) and Capital Market Agencies such as Securities Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) as the Self-Regulatory Organisation (SRO) and Catalyst for development of the Mortgage Banking/ Housing Finance Sector in Nigeria.

IN compliance with its constitution, Mortgage Banking Association of Nigeria (MBAN) recently re-elected the Managing Director, Homebase Mortgage Bank Limited, Dr. Femi Johnson as President.

The Bi-ennial General Meeting and programme was held at the Main Auditorium/Ijewere Hall of Chartered Institute of Bankers of Nigeria (CIBN), while the Extra Ordinary General Meeting/Bye Elections was concluded at Virginrose Resort, Victoria Island, all in Lagos. In a statement by MBAN Executive Secretary, Mr. Kayode Omotoso, the association assured other stakeholders in the mortgage banking sub-sector that the National Executive Council is poised to continue to justify the confidence reposed on them through their member-mortgage banks.

Other members of the National Executive Council of the association elected for a tenure of two years are Managing Director, Imperial Homes Mortgage Bank Limited, Mr. Ben Akaneme (Vice President); Managing Director, Mayfresh Mortgage Bank Limited, Lady. Maria Goretti Omego – Deputy President (East); Managing Director, FHA Mortgage Bank Limited, Mr. Roland Igbinoba – Deputy President (North); Managing Director, Trustbond Mortgage Bank Plc, Mr. Niyi Akinlusi – Deputy President (West); Managing Director, Haggai Mortgage Bank Limited, Mr. Richard Olubameru – Treasurer; Managing Director, Platinum Mortgage Bank Limited, Emmanuel Ndubuisi Mbaka – Publicity Secretary.

The new officers include Company Secretary/Legal Adviser, Jubilee-Life Mortgage Bank Limited, Mrs. Kenechi Nwagbo – Legal Adviser; Managing Director, Resort Savings & Loans Plc, Mr. Abimbola Olayinka (Immediate Past President); Ex-Officio – Managing Director, Aso Savings & Loans Plc, Mr. Hassan Usman and Managing Director, Infinity Trust Mortgage Bank Plc, Mr. Banjo Obaleye.