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Central Bank of Nigeria approves Abbey Mortgage Bank's conversion to commercial bank
via Punch Nigeria1 min read
The Central Bank of Nigeria has approved the conversion of Abbey Mortgage Bank Plc from a primary mortgage bank to a regional commercial bank. This was announced in a regulatory filing submitted to the Nigerian Exchange Limited. As part of this transition, the financial institution has also changed its corporate name from Abbey Mortgage Bank Plc to Abbey Bank Plc, a resolution passed by shareholders at an Extraordinary General Meeting on January 24, 2025. The management views this as a significant milestone in the bank’s expansion plans within the Nigerian financial services sector. Earlier, Abbey Mortgage Bank Plc had outlined plans to expand its digital ecosystem and enhance financial inclusion after its 34th Annual General Meeting. During this meeting, shareholders supported the bank's vision, approving a capital raise and a dividend payout. The new capital injection aims to accelerate the bank’s transformation into a more robust financial services provider, reaching previously underserved demographics. Mobolaji Adewumi, the Managing Director and Chief Executive Officer of Abbey Mortgage Bank, stated that the institution's future involves breaking down conventional banking barriers and delivering seamless, digitally driven banking experiences.
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The Super Eagles played to a 2-2 draw against Poland in an international friendly match on Wednesday. Terem Moffi opened the scoring for Nigeria in the 23rd minute. Poland equalized just before halftime with a goal from Potulski in the 46th minute. Nigeria took the lead again in the 77th minute through a penalty converted by Paul Onuachu. However, Poland secured a draw in stoppage time when Wiśniewski scored in the 95th minute, leveling the game at 2-2.
Nollywood actress and producer Mary Remmy Njoku has called on Christians to combine prayer with practical action to tackle societal issues like poor roads, insecurity, and failing healthcare systems. In an Instagram post, Njoku emphasized that while prayer offers guidance, strength, and wisdom, physical problems demand practical solutions. She stated that one cannot pray away bad roads, a failing healthcare system, or bandits. Njoku highlighted that food does not appear through prayer alone, as it requires cultivation, harvesting, transportation, or preparation. She further noted that critical areas such as infrastructure, healthcare, education, security, and economic development necessitate deliberate efforts from both leaders and citizens, asserting that these improvements will not materialize solely through prayer. She concluded that physical problems must be addressed with physical action, planning, accountability, and hard work.
A record 10 African nations will participate in the expanded 2026 FIFA World Cup, held from June 11 to July 19 in the United States, Mexico, and Canada. Morocco, a 2022 semi-finalist, leads the African challenge, while Cape Verde makes its debut and DR Congo returns for the first time since 1974. BBC Sport Africa highlighted seven players expected to make significant contributions. Antoine Semenyo, a 26-year-old forward who joined Manchester City mid-season, will lead Ghana's attack after scoring 17 Premier League goals. Yan Diomande, a 19-year-old RB Leipzig attacker, was the Bundesliga's Rookie of the Season with 12 goals and eight assists for Ivory Coast. South Africa's captain and goalkeeper, Ronwen Williams, 34, brings experience and penalty-saving prowess, fresh from winning the African Champions League. Roberto "Pico" Lopes, a 33-year-old Shamrock Rovers centre-back, was instrumental in Cape Verde's historic qualification. Brahim Diaz, a 26-year-old Real Madrid playmaker, seeks redemption with Morocco after a penalty miss in the 2025 Africa Cup of Nations final. Ismaila Sarr, a 28-year-old Crystal Palace forward, is in career-best form, having scored 21 goals this season, including nine in the UEFA Conference League for Senegal. Omar Marmoush, a 27-year-old Manchester City forward, remains a central figure for Egypt, contributing to City's League Cup and FA Cup successes. The 2026 World Cup provides a platform for African football to display its talent.
Must ReadMusa Aliyu, Chairman of the Independent Corrupt Practices and Other Related Offences Commission ICPC, stated that a lack of integrity and ethical standards is central to Nigeria's governance and developmental issues. He made these remarks at the International Conference on Anti-Corruption, Transparency and Integrity in Governance, organized by the Anti-Corruption Academy of Nigeria ACAN in Keffi, Nasarawa State. Aliyu emphasized the urgent need for reinforced ethical compliance across all sectors to achieve progress, noting that the fight against corruption requires collective involvement from public institutions, the private sector, civil society organizations, professional bodies, faith-based organizations, the media, academia, and citizens. He called for stronger collaboration and sustained commitment to rebuild public trust and strengthen governance systems. Professor Sheriff Ibrahim, Provost of ACAN, described corruption as a major obstacle to Nigeria's socio-economic development. Abdulrasheed Bawa, former Chairman of the Economic and Financial Crimes Commission, advocated for a more determined and action-driven approach to anti-corruption efforts.