The Chairman of the Governing Board of the Federal Mortgage Bank of Nigeria (FMBN), Nasiru Gawuna, has resigned from his position with immediate effect.
Gawuna, a former governorship candidate of the All Progressives Congress (APC) in Kano State, conveyed his decision in a resignation letter dated March 27, 2026.
He said the move was in compliance with a directive by President Bola Tinubu, requiring political appointees to step down in line with provisions of the Electoral Act ahead of forthcoming political activities.
“My resignation is in strict compliance with the President’s directive requiring all political appointees to step down in accordance with the provisions of the Electoral Act,” he stated.
Gawuna expressed appreciation to President Tinubu for the opportunity to serve, describing his tenure as a privilege to contribute to the growth and development of the bank and the country.
He also assured of a smooth transition, pledging to hand over his responsibilities in line with established procedures.
Meanwhile, sources indicated that the former FMBN chairman has concluded plans to defect politically, with indications linking him to the camp of former Kano State Governor, Rabiu Musa Kwankwaso.
He is expected to formally announce his next political move in the coming days.