Mr. Kabir Adeniyi Yagboyaju has assumed leadership of the Federal Mortgage Bank of Nigeria (FMBN) as the Acting Managing Director/Chief Executive.
Mr. Yagboyaju’s emergence follows the expiration of the five-year tenure of the Arc. Ahmed Musa Dangiwa-led Executive Management Team on Friday 8th April 2022, and the formal handing over ceremony at the Bank’s Corporate Headquarters in Abuja. The event was witnessed by the Chairman, FMBN Board of Directors, Mr. Ayodeji Ariyo Gbeleyi.
Prior to his appointment as the Ag. Managing Director \ Chief Executive FMBN, Mr. Yagboyaju was the most senior General Manager and the Group Head, Risk Management.
The new Acting MD/CE, FMBN 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 Federal Mortgage Bank of Nigeria 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.
He 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. In addition, he has acquired various professional qualifications including those of Chartered Institute of Bankers of Nigeria (CIBN), Nigerian Institute of Management (NIM – Chartered), Licensed International Financial Analyst (Canada), and Fellow Institute of Credit Administration. He has attended various training programs both within and outside the country, including but not limited to the following: Treasury Bourse Game (CitiBank, Turkey), EuroMoney Treasury Management Course, Wharton Business School Housing Finance Program, Senior Management Program (Lagos Business School) etc. He is currently rounding-up with his Ph.D. program in Marketing.
Mr. Yagboyaju has contributed significantly to the growth and success of FMBN through his exploits at the Zonal Operations level in South-south \ Southeast as the Regional Executive between 2008 and 2011, by bringing back over 5 States into the NHF Scheme. He grew the Bank’s investment portfolio as the Treasurer of FMBN from N24Bn in 2016 to over N80Bn in 2019.
Mr. Yagboyaju is an ardent stickler for excellence and quality customer service; he loves meeting people, reading, travelling, and watching football. He is happily married with children.
In his remarks at the handing over ceremony at the Bank’s Corporate Head Office, the new Acting MD/CE thanked the outgoing Executive Management Team for their efforts in the last five years in navigating the course of the Bank towards better performance. He solicited the cooperation of FMBN staff towards achieving the dream to make the Bank a global institution of repute, a reality.
He outlined the immediate priorities to include:
- Monitoring of all on-going housing development projects to ensure that the Bank’s investments are properly recovered.
- Ensuring that the Bank’s financial ratios with the regulatory authorities are positively improved.
- Speedy delivery of the Bank’s computerization project.
- Repositioning & Recapitalization of the Bank
- Turn-around time on service delivery.
Additionally, the new FMBN Acting MD/CE said he would focus on the Bank’s 5-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 N50Billion to over N300Billion, expanding the NHF customer base from 5 million to 25 million new contributors to be drawn mostly from the informal sector.
“We must be profitable by delivering value to our loyal customers (NHF contributors) who have been with us through thick and thin. The task of making FMBN a GREAT institution is one that we must achieve.” Kabir Adeniyi Yagboyaju, Actg. MD/CE, FMBN
Left to right: Former MD/CE, Federal Mortgage Bank of Nigeria, Arc. Ahmed Dangiwa, New Acting MD/CE, Kabir Adeniyi Yagboyaju and Chairman Board of Directors, Mr. Ayodeji Ariyo Gbeleyi at the handing over ceremony at the Bank’s Corporate Headquarters