Abbey Bank Transition to Commercial Banking Approved

Abbey Bank Plc has received approval from the Central Bank of Nigeria (CBN) to convert its mortgage banking licence into a commercial banking licence. This change is expected to expand the bank's capabilities within Nigeria’s financial services sector.

The bank's chief executive, Mr Mobolaji Adewumi, stated that the transition marks a defining chapter in the company’s history. He emphasized that the shift aims to make banking more accessible, responsive, and relevant to individuals, families, and businesses.

Abbey Bank plans to commence commercial banking operations in the fourth quarter of 2026. The bank has assured customers that the transition will focus on delivering a seamless experience while strengthening its capabilities and maintaining its commitment to service.