Olowookere becomes MBAN president, urges partnership to deepen sector

To transform the mortgage sector, the Mortgage Banking Association of Nigeria (MBAN) has called for partnership among the industry stakeholders to deepen its penetration in the economy.

MBAN’s new President, Mr Ayo Olowookere, made the call at the Biennial General Meeting of the association held in Lagos, where he was elected. Other newly elected executives included the Managing Director of Homebase Mortgage Bank, Mr Arinze Adigwe (Vice President), Deputy President (East), Mr Ime Okon, MD of Abbey Mortgage Bank, Mr Bolaji Adewunmi; Managing Director, LivingTrust Mortgage Bank, Dr Olumide Adedeji, and Mrs Joan Adenuga (legal adviser). Immediate past president and Managing Director of Citycode Mortgage Bank, Mr Mac-Yoroki, was elected as an Ex-officio member.

Before joining Imperial Homes as Managing Director, Olowookere was the Managing Director, LivingTrust Mortgage Bank Plc. He started his career at KPMG and proceeded to ARM before pivoting to the Mortgage Banking Financial Services sub-sector. Olowookere is also a fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an Alumnus of the Harvard Business School.

In response, Olowookere pledged to re-energise the sub-sector through advocacy, and interface with Primary Mortgage Banks and brokerage companies. He said there will be renewed vigour to grow the sub-sector.

He further assured that the association will create a more efficient and effective association by re-tooling and restructuring it, fostering inclusivity and a sense of belonging among members.