Key Highlights
- The board of Directors of Infinity Trust Mortgage Bank Plc approved the appointment of Olufemi Adeoye Fabanwo as an Independent Non-Executive Director of the Bank.
- The appointment is effective 3rd April 2023 subject to ratification by shareholders at the Bank’s next Annual General Meeting (AGM).
- Dr. Olufemi Fabamwo has an illustrious banking career spanning three and a half decades in the Central Bank of Nigeria (CBN) until 2017.
The Board of Directors of Infinity Trust Mortgage Bank Plc has announced the confirmation of Dr. Olufemi Adeoye Fabanwo as an Independent Non-Executive Director of the Bank by the Central Bank of Nigeria on 28th March 2023.
This was contained in a notice to the Nigerian Exchange Limited (NGX) and obtained by Nairametrics.
According to the statement signed by Mrs.Tolu Osho, Company Secretary, the appointment is effective 3rd April 2023 subject to ratification by shareholders at the Bank’s next Annual General Meeting (AGM).
Profile of Adeoye Fabanwo: Dr. Olufemi Fabamwo is an accomplished banker with an illustrious banking career spanning three and a half decades in the Central Bank of Nigeria (CBN) until 2017.
He served in various capacities
Director of, the Other Financial Institutions Supervision Department between 2010 and 2014, he superintended over the regulation, supervision, and reform of Primary Mortgage Banks (PMBs), Finance Companies (FCs), Development Finance Institutions (DFIs), Microfinance Banks (MFBs), and Bureaux de Change (BDCs).
He was the Director of the currency operations from 2014 to 2017. Dr. Fabamwo is a fellow of the Chartered Institute of Bankers of Nigeria (FCIB). He graduated from Atlantic International University USA with a Ph.D. in Business Administration.
What you should know
Infinity Trust Mortgage Bank Plc, one of the most capitalized Primary Mortgage Banks in Nigeria, has significantly increased its shareholders’ funds from less than N50 million in 2003 to over N7.1 billion and maintained an unbroken record of consistency in dividend payment to shareholders for fourteen years running.
Infinity Trust Mortgage Bank Plc has wholly or partly financed no fewer than 20 modern estates in Abuja, Lagos, Nasarawa, and Ogun State respectively, thereby providing accommodation to over 10,000 Nigerian families.
Infinity Trust Mortgage Bank is listed on the Nigerian Stock Exchange (NGX) since December 11th, 2013. Infinity Trust is traded on the NGX under the ticker symbol “INFINITY”. The bank is currently the 83rd most valuable stock on the NGX with a market capitalization of NGN 5.34 billion.