MBAN vows to transform mortgage sector

The Mortgage Banking Association of Nigeria (MBAN) has elected new executives with a promise to positively transform the mortgage sector of the economy. The election which was held at the Biennial General Meeting of the association, saw Ayo Olowookere elected as President and Chairman of the National Executive Council (NEC). He is also the Managing […]

The Mortgage Banking Association of Nigeria (MBAN) has elected new executives with a promise to positively transform the mortgage sector of the economy.

The election which was held at the Biennial General Meeting of the association, saw Ayo Olowookere elected as President and Chairman of the National Executive Council (NEC). He is also the Managing Director (MD) of the Imperial Homes Mortgage Bank.

Other members of the Newly Elected National Executive Committee of the Association are: Mr. Arinze Adigwe, Vice President and MD of Homebase Mortgage Bank; Mr Ime Okon, the Deputy President East of the council and MD Awka Savings. Mr. Bolaji Adewunmi, MD of Abbey Mortgage Bank; Dr. Olumide Adedeji, MD of LivingTrust Mortgage Bank as well as Mrs. Joan Adenuga, Legal Adviser.

Mr Mac-Yoroki, who is the immediate Past President of the association and MD Citycode Mortgage Bank, is an Ex-officio member of NEC.

Olowookere is a seasoned finance executive with over 20 years in Financial Services, Banking and Real Estate Finance.

The MBAN President expressed hope to re-energize advocacy and sub-sector Interface for member Primary Mortgage Banks and
Brokerage Companies.

He also aim to grow the sub-sector base and business size of the association.

“We are small; so we need to collaborate rather than compete,” he said.

During his tenure, Olowookere plans to create a more efficient and effective Secretariat by re-tooling and restructuring it.

“We will commit to providing a unified and An inclusive organization that delivers solutions and benefits to all corporate and
individual Members.

“The Mortgage Banking sub-sector needs to collaborate rather than compete. Hence, there will be regular engagement meetings with Industry Counter-parties – Federal Ministry of Housing, Federal Ministry of Finance, the Federal Mortgage Bank of Nigeria, NMRC, FHFL, MREIF, REDAN and the Media.”