New MD Takes Over At FMBN

A new acting Managing Director (MD) has been appointed by the Federal Government to take over the affairs of the Federal Mortgage Bank of Nigeria. He is  B.N. Nwogbo.

The new appointment took effect from September 6th 2010, and follows  the dissolution of the erstwhile board of the bank under the chairmanship of Deda Attah.

The FMBN new chief executive officer, who is a graduate of the University of Lagos, also holds several other academic qualifications, including an MBA of the University of Nigeria, Nsukka.

Nwogbo also, is a member of a number of professional associations such as the Institute of Chartered Accountants of Nigeria (ICAN), associate member, Chartered Institute of Bankers (ACIB), associate member, Chartered Institute of Stockbrokers (ACIS), associate member, Nigerian Institute of Management (NIM), as well as a registered market operator with the Securities and Exchange Commission.

He was the general manager in-charge of Securities Issuance and Market Development in FMBN, until his new appointment, and had held this position since 2008.

This department was responsible for developing and issuing the first ever FMBN Mortgage-backed bond which raised  N26 billion to refinance the acquisition of  non-essential federal government houses in the FCT.

Nwogbo was also the head of operations in-charge of Abuja and North, of the UTC Nigeria Plc between 2004 and 2006 before joining the FMBN.

Before the period he worked in these mentioned places, Nwogbo had acquired wealth of experience of over 17 years in banking operations, investment banking and consultancy services and had worked with Cran Field Associate.

He was  also a pioneer staff of Summit Finance Company, where he progressed in the course of his carrier, to the post of Assistant General Manager.

The new FMBN Chief Executive Officer has also attended several leadership training courses within and outside Nigeria and is happily married with children.