Cooperative Mortgage Bank appoints Yusuf as new MD/CEO


The management of Cooperative Mortgage Bank (CMB), has announced Mr. Musa Abubakar Yusuf, as the new Managing Director/Chief Executive Officer of the bank.

This is just as the bank appointed Mr Samuel Akinsete, as its Board Chairman.

Yusuf, the current Deputy Managing Director of the bank, is taking over from Mallam Kabir Ayinde-Tukur, who is retiring at the end of the year alongside the Chairman of the bank’s board, Air Vice Marshal Walter Ogujiofor (rtd), and the board’s Audit Committee Chairman, Chief Oluwole Okunnuga, after leading the bank for a decade.

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At the event to honour the retiring officials, members of staff and guests poured encomiums on the trio, especially the outgoing MD/CEO for his outstanding achievements by positioning CMB as the leading mortgage bank in the country.

Business associates, family members and well-wishers, also lauded Kabir-Tukur’s dexterity in breaking barriers within the mortgage market.

The outgoing MD/CEO expressed gratitude for the opportunity to lead the bank years after training at the old Savannah Bank, noting that the resilience and dedication displayed by his administration were through divine providence and efforts of the Central Bank of Nigeria (CBN), business associates, board members and members of staff.

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The incoming MD/CEO, Yusuf, in his remarks, said his predecessor has created a solid foundation for progress and continuity, stating that the time has come to move from the

most vibrant mortgage bank in Nigeria to the most vibrant financial institution in Africa while leveraging on technology and innovation.

He then assured Nigerians of quality and affordable houses, adding that value would always be the focus.

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Present at the ceremony include the pioneer MD of the bank, Adetunji Adepeju, a Central Bank of Nigeria’s Director, Kabir Busari, an Assistant Director, Wole Omosuyi, former Minister of Power and Steel, Elder Wole Oyelese, wife of the outgoing MD, Olusola Ayinde-Tukur, Alhaja Fatima Adeoye, Asiwaju Nurudeen Akinade, banking industry giants and investors, among others.

Established in 1994, CMB sits on the board of the International Cooperative Banking Association and currently boasts of N3.5b share capital.

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