In a bold move towards national relevance, Governor Sheriff Oborevwori has reaffirmed his administration’s commitment to transform Delta Trust Mortgage Bank Limited into a full-fledged national mortgage bank by the end of 2025.
This assurance was made known during a one-day retreat themed “Repositioning the Delta Trust Mortgage Bank Limited for National Relevance: A Collective Call to Action,” held in Asaba. The retreat brought together the Board, management, and staff of the bank to chart a new course for sustainable growth.
Chairman of the Board, Honourable Jude Omena Ogbimi, disclosed that the bank has already spread its tentacles across Delta State with branches in Asaba, Warri, Effurun, and contact centers in Ozoro and Ughelli. Plans are underway to establish new contact centers in Agbor and Sapele by July and August this year.
Hon. Ogbimi, a former lawmaker and seasoned accountant, noted that before Governor Oborevwori’s administration and the inauguration of the current Board, the bank was in a dire financial state—recording a deficit of N638 million that nearly crippled its operations. However, through reforms under the governor’s MORE AGENDA, the bank is now profitable and poised for national growth.
“This bank is not an arm of the civil service but a financial institution governed by CAMA, BOFIA, and regulated by the Central Bank of Nigeria,” Ogbimi stressed, adding that reforms have eliminated sharp practices and positioned the bank to deliver affordable home loans to civil servants and other stakeholders.
Speaking further, Ogbimi praised Governor Oborevwori for his decisive leadership and the prompt support that has turned the tide for the bank. He acknowledged that unethical practices and financial deficits could have led to the bank’s collapse but that the sixth Board, with government backing, overcame these challenges.
Acting Managing Director/CEO, Barr. Joshua Muwhen, highlighted the retreat’s importance in appraising and improving the bank’s performance. He lauded the bank’s recent strides, including migrating to the Fin-Trak core banking system, improved RSA processing, and enhanced loan recovery efforts.
Muwhen also emphasized the bank’s commitment to regulatory compliance, digital transformation, and meeting the Central Bank’s recapitalisation directives, with a N3 billion capitalization request already submitted to the Governor.
The retreat also featured key lectures on corporate culture, managing change, and compliance, delivered by Directors Mr. Gibson Pinnick and Mr. Joe Ogbolu. Staff were charged to be ethical ambassadors and agents of change for the bank’s national aspirations.
Staff members who participated in the retreat expressed gratitude to the Delta State Government, the Board, and Management for the initiative, describing it as an eye-opener that would propel the bank’s vision forward.
As the Delta Trust Mortgage Bank sets its sights on national status, stakeholders are optimistic that with continued support and reforms under the MORE AGENDA, the bank will become a beacon of financial excellence for all.