Banking
Abbey Mortgage Bank Thrills Customers With Mobile App
By Aduragbemi Omiyale
Customers of Abbey Mortgage Bank are now enjoying better financial services with the company’s mobile app launched this week at the lender’s head office in Victoria Island, Lagos.
According to the General Manager in charge of Information Technology and Platforms, Lolita Ejiofor, the “AbbeyMobile App was developed based on the need to provide a more seamless and convenient banking experience for both existing and new customers, simply by downloading and registering securely on the AbbeyMobile App.”
“The app would ensure a better experience is accessible for day-to-day banking services, including opening an account to save towards their equity for a mortgage Save to Own, without the need to visit a branch. Of course, our friendly Customers Experience Team are readily available to assist,” Ejiofor added.
The data-friendly mobile banking application will provide customers with easy access to their accounts as well as the ability to perform transactions seamlessly without the need for in-person banking.
Over the years, the bank has been at the vanguard of pioneering innovative solutions to enable its customers to achieve their strategic objectives.
Business Post reports that this game-changing application will facilitate smooth interaction between customers and stakeholders nationwide.
It also marks a big step in the democratization of mortgage banking in Nigeria and provides unprecedented homeownership access for Nigerians in all geographical locations.
The Mortgage Mobile App is attributed to a rise in the number of internet consumers, increased access to web-based and online services, and the rising need to simplify homeownership.
“Our goal is to consistently create value for our customers and to provide them with solutions that enable them to meet their strategic objectives.
“We remain committed to being there for our customers in their journey to homeownership,” the GM for E-business and Support, Mr Felix Omodayo-Owotuga, noted.
He also disclosed that customers will be rewarded with fabulous prizes when they refer a friend to the AbbeyMobile App.
In his remarks, the Managing Director/CEO of Abbey Mortgage Bank, Mr Madu Hamman, stated that, “We are delighted to be at the forefront of digital banking within the mortgage banking space.
“We recognize that these are very difficult times and our customers are looking for a partner that can help them navigate the challenges induced by the COVID-19 pandemic. This is why we are constantly raising the bar and pushing the limits in service delivery by pioneering innovative solutions that make banking easier and faster for our customers.”
“In keeping with its commitment to simplify homeownership, provide funding to qualified customers and reduce access times, Abbey is utilizing the latest technology to consolidate the compendium of care and expand our vision to our customers’ mobile devices,” Mr Hamman added.
With over 108 million internet users in Nigeria and an estimated 120 million mobile phone holders, Abbey Mortgage is now able to connect more Nigerians to quick and professional guides towards their journey to homeownership.
By Aduragbemi Omiyale
Foremost Nigerian real estate lending institution, Abbey Mortgage Bank Plc, has rebranded to Abbey Bank Plc.
This is to reflect its new status as a full-fledged financial institution as against its previous status as a bank for only the real estate sector.
The company, which trades its securities on the Nigerian Exchange (NGX) Limited, informed the investing community of its transformation.
This was in line with the approval granted by shareholders to the board of the organisation to change the name at an Extraordinary General Meeting (EGM) in January 2025.
The NGX Regulation Limited last week confirmed the name change via a circular signed by Bonaventure Onwuji on behalf of its Head of Issuer Regulation Department.
“Trading license holders and the investing public are hereby notified that the change of name of Abbey Mortgage Bank Plc to Abbey Bank Plc has been implemented by Nigerian Exchange Limited.
“This is in line with the approval obtained from the shareholders of the bank at its Extraordinary General Meeting held on January 24, 2025, and the receipt of a new certificate of incorporation from the Corporate Affairs Commission (CAC).
“Please note that the company’s trading symbol has also been changed from ABBEYBDS to ABBEYBANK,” the notice read.
By Modupe Gbadeyanka
In recognition of its outstanding performance, operational excellence, and commitment to delivering superior Institutional Cash and Trade Finance services, Ecobank Nigeria has clinched the Client Excellence Award.
The accolade was given to the subsidiary of the leading pan-African financial services group, Ecobank Group, by Deutsche Bank.
It recognises Ecobank Nigeria’s consistent achievement of high standards in transaction processing, service delivery, operational efficiency, and collaboration within the global trade finance ecosystem.
It further reinforces the lender’s position as a leading financial institution providing innovative financial solutions that support corporates, financial institutions, and businesses engaged in domestic and international trade.
“The Client Excellence Award recognises institutions that consistently demonstrate outstanding quality, efficiency, and reliability in transaction banking operations.
“Ecobank Nigeria distinguished itself through its commitment to excellence, strong operational controls, and customer-focused service delivery that has created measurable value for clients and counterparties alike,” the Managing Director for Global Head of TFFI and Regional Head of Trade & Lending for the Middle East and Africa (MEA) at Deutsche Bank, Mr Anand Jha, said.
“We are pleased to recognise Ecobank Nigeria’s achievements and appreciate the strong partnership we have built over the years. We look forward to continuing our collaboration in supporting trade, payments, and financial flows that drive economic development across Africa and beyond,” Mr Jha added.
In his remarks, the Coverage Head of Corporate and Investment Bank at Ecobank Nigeria, Mr Segun Anjorin, thanked Deutsche Bank for the recognition, noting that the award reflects the bank’s unwavering commitment to excellence, innovation, and customer-centric service delivery.
“We are honoured to receive the Deutsche Bank Client Excellence Award. This recognition is a testament to our commitment to delivering seamless and innovative solutions that enable our clients to thrive in an increasingly interconnected global marketplace.
“At Ecobank Nigeria, we remain focused on leveraging our extensive pan-African network, digital capabilities, and strategic partnerships to facilitate trade, improve transaction efficiency, and support economic growth across Nigeria and the African continent. We value our longstanding relationship with Deutsche Bank and look forward to further strengthening our collaboration in the years ahead,” Mr Anjorin said.
By Adedapo Adesanya
The Nigeria Deposit Insurance Corporation (NDIC) has commenced the process of paying insured deposits to customers of the 46 microfinance banks whose operating licences were revoked by the Central Bank of Nigeria (CBN).
In a statement issued on Wednesday by the Head of Communication and Public Affairs Department, Mrs Hawwau Gambo, the corporation said it had been appointed the official liquidator of the failed banks following the CBN’s revocation of their licences, which took effect on July 1, 2026.
The NDIC said its appointment was in line with the provisions of the Banks and Other Financial Institutions Act (BOFIA) 2020 and the NDIC Act 2023.
The organisation said the affected banks have ceased to operate as licensed financial institutions and are no longer authorised to carry out banking business in Nigeria.
“The NDIC has commenced the process of the orderly closure of the failed banks with their immediate takeover, verification and payment of insured sums to eligible depositors,” the statement said.
It added that depositors and the general public would be informed of subsequent steps in the liquidation process, warning members of the public against conducting transactions with any of the affected banks following the revocation of their licences.
It also cautioned individuals against removing, concealing or tampering with the assets, records or properties of the failed institutions, noting that such actions could amount to a breach of the law and attract sanctions.
Business Post earlier reported that the CBN revoked the operating licences of the 46 microfinance banks after determining that they no longer met the regulatory conditions required to continue operations.
According to the apex bank, the affected institutions were sanctioned for various regulatory breaches, including insufficient assets to meet liabilities, operating without approval, prolonged inactivity, failure to commence business within the stipulated period and failure to maintain the minimum capital required by law.
The apex bank said the action forms part of its efforts to strengthen financial sector stability, protect depositors and ensure compliance with banking regulations.
The affected institutions are spread across several states, including Lagos, Kano, Abia, Kaduna, Kebbi, Ogun, Niger, Plateau, Rivers, Delta, Benue, Cross River, Ondo, Osun, Anambra, Oyo, Bayelsa, Abuja and Akwa Ibom.
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