The newly appointed board of the Federal Mortgage Bank of Nigeria (FMBN) has been instructed by the Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, to make the bank’s N500 billion recapitalisation its immediate priority.
Dangiwa, speaking in Abuja yesterday, also tasked the board with improving loan recovery efforts, broadening access to mortgages, and finalizing the current digital transformation in order to reestablish FMBN as a trustworthy institution.
FMBN is not just a lender, it is a regulator, an innovator, and a builder of housing finance systems. This board must act as the bank’s strategic compass, setting direction, guiding execution, and ensuring measurable results.
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