The Federal Mortgage Bank of Nigeria (FMBN) has launched its new Corporate Statements in line with the new Board and Executive Management’s efforts to reposition the Bank as an institution that is able and willing to live up to its name as the foremost development finance organization in Nigeria.

The statements include FMBN’s Vision, “To be the preferred mortgage institution providing reliable and affordable access to homeownership for Nigerians,” and its Mission “To drive the delivery of accessible and affordable homeownership by providing sustainable liquidity, innovative products and services, and excellent customer service.”

Also included are the Bank’s Core Values of Integrity, Professionalism, Accountability, Customer Centricity, and Teamwork (IPACT).

The Honorable Minister of Works and Housing, His Excellency Babatunde Raji Fashola, SAN, unveiled the statements during the FMBN Board and Management Retreat titled “Strategy Repositioning for Optimized Performance.” The Retreat took place at Transcorp Hilton, Abuja, from 1st to 2nd August 2022, to re-calibrate and enhance the Bank’s Strategy Blueprint and create a pathway to chart its immediate, short- and medium-term future.

In his remarks, the Managing Director/Chief Executive of FMBN, Mr. Madu Hamman, said that the Minister’s unveiling of the statements “would symbolize the formal beginning of the new future of the Federal Mortgage Bank of Nigeria (FMBN).”

“In 2020, FMBN enthusiastically adopted Corporate Statements as part of the 5-Year Strategy Blueprint giving life to this aspiration as part of its strategy formulation. From now on, it is the intention of the Bank that these declarations and values will serve as our guiding light as we forge ahead in charting a better and brighter future for the Bank” Mr. Madu Hamman, FMBN MD/CE

Mr. Madu noted that since the immediate past Board approved FMBN’s 5-Year Strategy Blueprint of the Bank in 2020, the operating environment had witnessed many significant challenges. These include the outbreak of the COVID-19 global pandemic, the Russia-Saudi Arabia oil price war, and, more recently, the Russia-Ukraine conflict, all with their adverse macroeconomic and social-economic fallouts in international and national spheres.

He added that the corporate statements and the Retreat would incorporate the vision and focus of the Bank’s new leadership in implementing Mr. President’s mandate for affordable housing delivery to Nigerians, especially those in the low-and medium-income brackets.