In an effort to positively transform the mortgage sector of the economy, the Mortgage Banking Association of Nigeria (MBAN), has elected new executives.

A statement issued by the MBAN disclosed.

The election which was held at the Biennial General Meeting of the association on Thursday, saw Mr Ayo Olowookere elected as President and Chairman of the National Executive Council (NEC). He is also the Managing Director (MD) of the Imperial Homes Mortgage Bank.

Other members of the Newly Elected National Executive Committee of the Association are: Mr. Arinze Adigwe, Vice President and MD of Homebase Mortgage Bank; Mr Ime Okon, the Deputy President East of the council and MD Awka Savings. Mr. Bolaji Adewunmi, MD of Abbey Mortgage Bank; Dr. Olumide Adedeji, MD of LivingTrust Mortgage Bank as well as Mrs. Joan Adenuga, Legal Adviser.

Mr Mac-Yoroki, who is the immediate Past President of the association and MD Citycode Mortgage Bank, is an Ex-officio member of NEC.

Olowookere is a seasoned finance executive with over 20 years in Financial Services, Banking and Real Estate Finance.

He has a degree in Industrial Chemistry from the University of Lagos and MSc Finance from TIAS Business School.

Before joining Imperial Homes as Managing Director in 2019, Ayo was MD at LivingTrust Mortgage Bank Plc from 2015 to 2019.
He started his career at KPMG and proceeded to ARM before pivoting to the Mortgage Banking Financial Services sub-sector.

Ayo is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an Alumnus of the Harvard Business School.

The MBAN President hopes to re-energize
advocacy and sub-sector Interface for
Member Primary Mortgage Banks and
Brokerage Companies.

He also aims to grow the sub-sector base and business size of the association.

In his words: “We are small; so we need to collaborate rather than compete.”

During his tenure, Olowookere plans to create a more efficient and
effective Secretariat by re-tooling and restructuring it.

More so, his leadership will foster inclusivity and a sense of belonging among members.

“We will commit to providing a unified and
An inclusive organization that delivers
solutions and benefits to all corporate and
individual Members,” he says.