NMRC repositions, appoints new key officers

The Nigerian Mortgage Refinance Company (NMRC) has repositioned with the appointment of two officers into key positions. Adeyemi Candide-Johnson has been named the company’s new chairman while Kehinde Ogundimu has been confirmed the substantive managing director.

A statement from the company obtained by BusinessDay on Friday says both appointments take effect from December 1, 2018.

Candide-Johnson, a senior advocate of Nigeria, takes over from  Charles Okeahalam who retired from the company’s board on November 30,  2018 after serving the company meritoriously as its first independent chairman.

On the flip-side, the company also announced the retirement of its pioneer Executive Director in charge of Policy, Strategy and Partnerships, Chika Akporji, who, the statement said, bowed out after attaining the statutory age of retirement from service.

In the same vein, Anino Emuwa, an independent Non-Executive Director, stepped down from the board.

On January 16, 2016, NMRC was launched by former President Goodluck Jonathan as a secondary mortgage institution. It is a CBN-licensed mortgage liquidity facility with the core mandate of developing the primary and secondary mortgage markets.

The company raises long-term funds from the capital market for mortgage refinancing and, by extension, promotes affordable housing development and home ownership in Nigeria. NMRC was incorporated on June 13, 2013 and obtained its final license to operate as a non-deposit taking financial institution from the CBN on February 18,  2015.

CHUKA UROKO