CEO receives recognition from Coalition of NGOs

The Managing Director and Chief Executive of the Federal Mortgage Bank of Nigeria (FMBN), Gimba Yau Kumo, has been received recognition from the Coalition of Non-Governmental Organisations for Change.

According to the NGOs, the FMBN has done a lot for Nigeria's real estate sector.

“The FMBN revamped corporate governance and risk management structure in line with international best practices; improved housing delivery through Ministerial Pilot Housing Scheme in conjunction with the parent Federal Ministry of Lands, Housing and Urban Development using the public-private partnership model and improved lending for estate development and mortgage financing for affordable home ownership in the country.

“The products portfolio of the apex mortgage bank was also boosted to include services to the non-salaried/informal sector which accounts for about 85 per cent of the working population. The builders’ bank also under his stewardship focuses on cooperative societies and trade unions. The bank’s latest products include the Nigeria Diaspora Mortgage Scheme that provides opportunities for Nigerians abroad to acquire houses in the country.”

READ: '68 million Nigerians are either improperly housed or not housed at all', MD says

This speech came from the President, Wole Badmus, who is in charge of the coalition made of students, artisans, traders and the civil society.

Last week, Kumo stressed the need for affordable houses in the country.

He also revealed the bank's plan to provide low and affordable housing schemes across the 36 states of the federation, adding that “housing is a human right”.