Abbey Mortgage Bank Plc Appoints Mobolaji Adewumi Acting Managing Director

Abbey Mortgage Bank has appointed Mobolaji Adewumi as its Acting Managing Director.

He replaces Madu Hamman who has just been appointed the new Managing Director of the Federal Mortgage Bank of Nigeria.

Adewumi whose appointment was announced after the emergency meeting of the board was the bank’s Executive Director Finance & Administration.

He obtained his MBA (specializing in Finance) from Judge Business School, University of Cambridge, UK, and his BSc in Management and Accounting from the Obafemi Awolowo University, Ile-Ife. Bolaji became a Chartered Accountant (ACCA) in 2007.

He worked for KPMG as Audit Senior between 2006 to 2009 before joining UBA from 2009 to 2011 where he worked in various capacities.

Adewumi also worked for Africa Finance Corporation, Egon Zehn International London Office, and Fairtrade International before joining Aso Savings and Loan Plc as Special Adviser to the MD/CEO & Head, Strategy between 2012 to 2015.

He later moved to First Bank of Nigeria Limited, where he was Special Assistant to the CEO between 2016 to 2019 and later joined VFD as the Group Executive Director, Finance from April 2019 to March 2020.

Adewumi, an experienced professional with a deep knowledge of the financial services industry with extensive working knowledge of sub-Sahn Africa, is expected to further grow the bank whose balance sheet currently stands at N34.billion.

He is also expected to give the right leadership to attract more shareholders, especially with the recent CBN’s approval of the Bank’s Rights Issue of 3.692bn ordinary shares of 50keach at N0.82 per share.

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