ABBEY MORTGAGE BANK : NCCG CORPORATE GOVERNANCE REPORT

March 19, 2024 at 04:49 am EDT

FINANCIAL REPORTING COUNCIL OF NIGERIA

Ministry of Industry, Trade & Investment)

FOR REPORTING COMPLIANCE WITH THE NIGERIAN CODE OF CORPORATE

GOVERNANCE 2018

Section A: Introduction

Corporate Governance is a key driver of corporate accountability and business prosperity. The Nigerian Code of Corporate Governance, 2018 (NCCG 2018) seeks to institutionalize corporate governance best practices in Nigerian companies. It is also aimed at increasing entities' levels of transparency, trust and integrity, and create an environment for sustainable business operations.

The Code adopts a principle-based approach in specifying minimum standards of practice that companies should adopt. Where so required, companies are required to adopt the "Apply and Explain" approach in reporting on compliance with the Code. The 'Apply and Explain' approach assumes application of all principles and requires entities to explain how the principles are applied. This requires companies to demonstrate how the specific activities they have undertaken best achieve the outcomes intended by the corporate governance principles specified in the Code.

This will help to prevent a 'box ticking' exercise as companies deliberately consider how they have (or have not) achieved the intended outcomes. Although, the Code recommends practices to enable companies apply the principles, it recognises that these practices can be tailored to meet industry or company needs. The Code is thus scalable to suit the type, size and growth phase of each company while still achieving the outcomes envisaged by the principles.

This form seeks to assess the company's level of compliance with the principles in the NCCG 2018. Entities should explain how these principles have been applied, specify areas of deviation from the principles and give reasons for these deviations and any alternative practice(s) adopted.

Please read the instructions below carefully before completing this form:

Every line item and indicator must be completed.

ii.	Respond to each question with "Yes" where you have applied the principle, and "No" where you are yet to apply
	the principle.

An explanation on how you are applying the principle, or otherwise should be included as part of your response.
Not Applicable (N/A) is not a valid response.

Section B - General Information

S/No.	Items	Details

i.	Company Name	ABBEY MORTGAGE BANK PLC

ii.	Date of Incorporation	26th AUGUST 1991

iii.	RC Number	172093

iv.	License Number	000026

v.	Company Physical Address	23 KARIMU KOTUN STREET, VICTORIA
		ISLAND, LAGOS STATE

vi.	Company Website Address	www.abbeymortgagebank.com

vii.	Financial Year End	31ST DECEMBER

viii.	Is the Company a part of a Group/Holding Company? Yes/No	NO

REPORT ON COMPLIANCE WITH THE NIGERIAN CODE OF CORPORATE GOVERNANCE 2018

	If yes, please state the name of the Group/Holding Company

ix.	Name and Address of Company Secretary	GEOFF AMAGHEREONU - 23 KARIMU
		KOTUN STREET, VICTORIA ISLAND,
		LAGOS STATE

x.	Name and Address of External Auditor(s)	PRICEWATERHOUSE COOPERS
		5B Water Corporation Road Landmark
		Towers Victoria Island, Eti-Osa

xi.	Name and Address of Registrar(s)	AFRICA PRUDENTIAL PLC - 28 IKORODU
		ROAD, PALMGROOVE, LAGOS

xii.	Investor Relations Contact Person	MARTINS BAKARE
	(E-mail and Phone No.)	m.bakare@abbeymortgagebank.com
		08109286466

xiii.	Name of the Governance Evaluation Consultant	OLUKAYODE AINA & CO

xiv.	Name of the Board Evaluation Consultant	OLUKAYODE AINA & CO

Section C - Details of Board of the Company and Attendance at Meetings

1. Board Details:

S/No.	Names of Board	Designation	Gender	Date First Appointed/	Remark
	Members	(Chairman, MD, INED, NED,		Elected
		ED)
1.	MAZI EMMANUEL	CHAIRMAN	M	24TH FEBRUARY 2020	TILL 31ST
	KANU IVI				DECEMBER
					2023

2.	HIGH CHIEF SAMUEL	CHAIRMAN/ INDEPENDENT	M	14TH JULY 2016	EFFECTIVE 1ST
	ONI	NON-EXECUTIVE DIRECTOR			JAN 2024

3.	MR. MOBOLAJI	MANAGING	M	3RD FEBRUARY 2020
	ADEWUMI	DIRECTOR/CEO

4.	MR. OLADIPUPO	EXECUTIVE DIRECTOR	M	26TH JUNE 2020
	ADEOYE

5.	AVM OLUFEMI SOEWU	NON-EXECUTIVE DIRECTOR	M	3rd JULY 2007	Retired from
					the Board
					effective 31st
					Dec 2023

6.	MR. NONSO OKPALA	NON-EXECUTIVE DIRECTOR	M	3RD FEBRUARY 2020	Retired from
					the Board 26th
					June 2023

7.	BRG GEN. JOHN	NON- EXECUTIVE	M	24TH FEBRUARY 2020
	OBASA	DIRECTOR

8.	PROF MARIUS UMEGO	NON-EXECUTIVE DIRECTOR	M	24TH FEBRUARY 2020

9.	MRS. CHRISTABEL	INDEPENDENT NON-	F	3RD FEBRUARY 2021
	ONYEJEKWE	EXECUTIVE DIRECTOR

10.	MS. JEWEL	NON-EXECUTIVE DIRECTOR	F	3RD FEBRUARY 2021
	OKWECHIME

11.	MS. CHIKA	NON-EXECUTIVE DIRECTOR	F	5TH MARCH 2021
	OCHONOGOR

12.	MR. OBINNA UFUDO	NON-EXECUTIVE DIRECTOR	M	25TH JULY 2023

13.	MRS. ADENIKE KUTI	INDEPENDENT NON-	F	14TH DECEMBER 2023
		EXECUTIVE DIRECTOR

REPORT ON COMPLIANCE WITH THE NIGERIAN CODE OF CORPORATE GOVERNANCE 2018

2. Attendance at Board and Committee Meetings:

S/No.	Names of Board Members	No. of	No. of	Membership of	Designation	Number of Committee	Number of
		Board	Board	Board	(Member or	Meetings Held in the	Committee
		Meetings	Meetings	Committees	Chairman)	Reporting Year	Meetings
		Held in the	Attended				Attended in
		Reporting	in the				the
		Year	Reporting				Reporting
			Year				Year

1.	MAZI EMMANUEL KANU	5	5	NIL
	IVI



2.	HIGH CHIEF SAMUEL ONI	5	5	Board Audit &	Chairman	4	4
				Compliance
				Committee

				Board Credit &	Member	6	6
				Risk
				Management
				Committee


3.	MOBOLAJI ADEWUMI	5	5	Strategy &	Member	4	4
				Financial
				Analysis
				Committee

				Board Credit &	Member	6	6
				Risk
				Management
				Committee


4.	MR OLADIPUPO ADEOYE	5	5	Strategy &	Member	4	4
				Financial
				Analysis
				Committee

				Board Credit &	Member	6	6
				Risk
				Management
				Committee


5.	AVM OLUFEMI SOEWU	5	5	Board Credit &	Chairman	6	6
				Risk
				Management
				Committee

				Board Audit &	Member	4	4
				Compliance
				Committee


6.	NONSO OKPALA	5	2	Board Strategy	Chairman	5	1
				& Financial			Chairman
				Analysis
						up till June
				Committee
						2023


				Board Credit &	Member	6	2
				Risk			Member up
				Management
						till June
				Committee
						2023

REPORT ON COMPLIANCE WITH THE NIGERIAN CODE OF CORPORATE GOVERNANCE 2018

S/No.	Names of Board Members	No. of	No. of	Membership of	Designation	Number of Committee	Number of
		Board	Board	Board	(Member or	Meetings Held in the	Committee
		Meetings	Meetings	Committees	Chairman)	Reporting Year	Meetings
		Held in the	Attended				Attended in
		Reporting	in the				the
		Year	Reporting				Reporting
			Year				Year


7.	PROF. MARIUS UMEGO	5	5	Board	Member	6	6
				Governance &
				Remuneration
				Committee

				Board Audit &	Member	4	4
				Compliance
				Committee


8.	CHRISTABEL ONYEJEKWE	5	5	Board	Chairman	6	6
				Governance &
				Remuneration
				Committee

				Board Strategy	Member	4	3
				& Financial
				Analysis
				Committee


9.	JEWEL OKWECHIME	5	5	Board	Member	6	6
				Governance &
				Remuneration
				Committee

				Board Strategy	Member	4	4
				& Financial
				Analysis
				Committee


	CHIKA OCHONOGOR	5	4	Board	Member	6	6
				Governance &
				Remuneration
				Committee

				Board Audit &	Member	4	4
				Compliance
				Committee


	OBINNA UFUDO	5	2	Board Strategy	Chairman	4	2
				& Financial			Chairman
				Analysis
						from July
				Committee
						2023


				Board Credit &	Member	6	2
				Risk			Member
				Management
						from July
				Committee
						2023

Section D - Details of Senior Management of the Company

REPORT ON COMPLIANCE WITH THE NIGERIAN CODE OF CORPORATE GOVERNANCE 2018

1. Senior Management:

S/No.	Names	Position Held	Gender

1.	MR. MOBOLAJI ADEWUMI	MANAGING DIRECTOR/CEO	M

2.	MR OLADIPUPO ADEOYE	EXECUTIVE DIRECTOR, TREASURY &	M
		BUSINESS OPERATIONS

3.	MRS. LOLITA EJIOFOR	GM, IT AND OPERATIONS	F

4.	MR GEOFF AMAGHEREONU	COMPANY SECRETARY	M

5.	MS. TOYIN ABEL	GROUP HEAD, PRIVATE AND	F
		INSTITUTIONAL BANKING

6.	MR. ABIODUN LASISI	HEAD LOAN MONITORING &	M
		RECOVRY

7.	MR OLUSHOLA SEIDU	GROUP HEAD, COMPLIANCE AND	M
		INTERNAL CONTROL

8.	MR FELIX OMODAYO-	GROUP HEAD, RETAIL SALES AND E-	M
	OWOTUGA	BUSINESS

9.	MR TOSIN BEREDUGO	HEAD, I.T	M

10.	MR TOMI OLURINOLA	CHIEF FINANCE OFFICER	M

11.	MS. BUKOLA EWEDAIRO	GROUP HEAD, NON-PROFIT	F
		ORGANIZATION

12.	MS. FUNMI FEMI-OMAGE	HEAD, CENTRALIZED OPERATIONS	F

13.	MR. EBENEZER AFOLABI	HEAD, INTERNAL AUDIT	M

14.	MRS IDONGESIT ABIA	HEAD, RISK MANAGEMENT	F

REPORT ON COMPLIANCE WITH THE NIGERIAN CODE OF CORPORATE GOVERNANCE 2018

Section E - Application

Principles

Reporting Questions

Explanation on application or deviation

Part A - Board of Directors and Officers of the Board

Principle 1: Role of the Board	i) Does the Board have an approved Charter	YES- The review was approved by the Board on 25tth
"A	successful	Company	is	which sets out its responsibilities and terms of	February 2022.
reference? Yes/No
headed by an effective Board
If yes, when was it last reviewed?
which	is	responsible		for

providing entrepreneurial	and
strategic leadership as well as
promoting ethical	culture	and
responsible			corporate
citizenship. As a link between
stakeholders and the Company,
the
Board is to exercise oversight
and control to ensure that
management acts in the best
interest of the shareholders and
other	stakeholders	while
sustaining the prosperity of the
Company"

Principle 2: Board Structure	i) What are the qualifications and experiences of	Mazi Emmanuel Kanu Ivi- B.Sc, MBA
and Composition				the directors?	Mr. Mobolaji Adewumi - B.Sc, ACCA, MBA
"The effective discharge of the		Mr. Oladipupo Adeoye - B.Eng
	AVM. Olufemi Soewu - M.Sc
responsibilities of the Board and
	High Chief Samuel Oni - ACA, MBA, FCCA, ACCA
its committees is assured by an
	Mr. Nonso Okpala - B.Sc, , CAIA
appropriate	balance of	skills
	Prof. Marius Umego - Ph.D, P.G.D.E, M.Sc, B.Sc
and		diversity		(including
experience and gender) without		Brig-Gen John Obasa - B.Sc, M.Sc
compromising		competence,		Miss Jewel Okwechime - M.Sc
independence and integrity "		Mrs. Chriatabel Onyejekwe - LLB, MBA
							Miss Chika Ochonogor - LL.M
							Mr Obinna Ufudo - B.Sc, M.Sc
							Ms Adenike Kuti - B.Sc, MBA

						ii) Does the company have a Board-approved	YES - The Company's Board Charter and Code of
						diversity policy? Yes/No	Corporate Governance promote membership
						If yes, to what extent have the diversity targets	diversity in terms of qualifications, skills,
						been achieved?	experience, age culture and gender. The Company
							has been able to achieve these attributes.

						iii) Are there directors holding concurrent
						directorships? Yes/No	NO
						If yes, state names of the directors and the

						companies?

						iv) Is the MD/CEO or an Executive Director a
						chair of any Board Committee? Yes/No	NO

						If yes, provide the names of the Committees.

Principle 3: Chairman			i) Is the Chairman a member or chair of any of	NO
"The		Chairman	is responsible	the Board Committees? Yes/no
	If yes, list them.
for providing overall leadership

of the Company and the Board,	ii) At which Committee meeting(s) was the	NIL
and	eliciting	the	constructive	Chairman in attendance during the period
participation of all Directors to	under review ?

REPORT ON COMPLIANCE WITH THE NIGERIAN CODE OF CORPORATE GOVERNANCE 2018

Principles			Reporting Questions	Explanation on application or deviation

facilitate effective	direction	of	iii) Is the Chairman an INED or a NED?	The Chairman is an Independent Non-Executive
the Board"						Director

				iv) Is the Chairman a former MD/CEO or ED of the	NO
					Company? Yes/No
					If yes, when did his/her tenure as MD end?

				v)	When was he/she appointed as Chairman?	24TH FEBRUARY 2020

				vi)	Are the roles and responsibilities of the	Yes, the roles and responsibilities of the Chairman
					Chairman clearly defined? Yes/No	are contained in the Board Charter and Abbey's
					If yes, specify which document	Code of Corporate Governance

Principle	4:	Managing	i)	Does the MD/CEO have a contract of	YES - His authority and relationship with the Board
Director/	Chief	Executive		employment which sets out his authority and	are contained in the Board Charter and Abbey's
Officer					relationship with the Board? Yes/No	Code of Corporate Governance
"The Managing Director/Chief		If no, in which documents is it specified?

Executive Officer is the head of	ii)	Does the MD/CEO declare any conflict of	No conflict of interest was disclosed in the
management delegated by the		interest on appointment, annually, thereafter	declaration form
Board to run the affairs of the		and as they occur? Yes/No
Company	to	achieve	its
iii) Which of the Board Committee meetings did	Board Credit & Risk Management Committee
strategic	objectives	for
	the MD/CEO attend during the period under	Board Strategy & Financial Analysis Committee
sustainable		corporate
performance"				review?


				iv) Is the MD/CEO serving as NED in any other	NO
					company? Yes/no.
					If yes, please state the company(ies)?

						No membership disclosed.
				v) Is the membership of the MD/CEO in these
					companies in line with the Board-approved
					policies? Yes/No

Principle	5:	Executive	i)	Do the EDs have contracts of employment?	YES
Directors					Yes/no
Executive Directors support the
ii)	If yes, do the contracts of employment set out	YES- Standard Operating Policies
Managing Director/Chief			the roles and responsibilities of the EDs?
Executive	Officer in	the		Yes/No
	If no, in which document are the roles and
operations and management of
	responsibilities specified?
the Company

				iii) Do the EDs declare any conflict of interest on	No conflict of interest was disclosed in the
					appointment, annually, thereafter and as they	declaration form
					occur? Yes/No

				iv) Are there EDs serving as NEDs in any other	NO
					company? Yes/No
					If yes, please list

				v) Are their memberships in these companies in	No membership disclosed.
					line with Board-approved policy? Yes/No

Principle	6: Non-Executive	i)	Are the roles and responsibilities of the NEDs	YES- their roles and responsibilities are contained in
Directors					clearly defined and documented? Yes/No	the Board Charter and Abbey's Code of Corporate
Non-Executive Directors bring		If yes, where are these documented?	Governance

to bear their knowledge,	ii)	Do the NEDs have letters of appointment	YES
expertise	and	independent		specifying their duties, liabilities and terms of
judgment on issues of strategy		engagement? Yes/No
and performance on the Board
iii) Do the NEDs declare any conflict of interest	No conflict of interest was disclosed in the

					on appointment, annually, thereafter and as	declaration form
					they occur? Yes/No

				iv) Are NEDs provided with information relating	YES- The information is provided periodically in an
					to the management of the company and on	accurate and timely manner through Board packs
					all Board matters? Yes/No	and Board papers
					If yes, when is the information provided to the
					NEDs

REPORT ON COMPLIANCE WITH THE NIGERIAN CODE OF CORPORATE GOVERNANCE 2018

		Principles		Reporting Questions	Explanation on application or deviation

					v)	What is the process of ensuring completeness	The information is subjected to the Company's strict
						and adequacy of the information provided?	and robust quality control measures before being
							released to Directors

					vi)	Do NEDs have unfettered access to the EDs,	YES
						Company Secretary and the Internal Auditor?
						Yes/No

Principle	7:	Independent	i)	Do the INEDs meet the independence criteria	YES -There is strict compliance with the
Non-Executive Directors		prescribed under Section 7.2 of the Code?	requirement of Principle 7.2
Independent	Non-Executive		Yes/No

Directors bring a high degree of	ii)	Are there any exceptions?	NO
objectivity to the Board for
sustaining stakeholder trust and
iii)	What is the process of selecting INEDs?	INEDs are selected on the basis of their unimpaired
confidence"
				independence, objectivity, impartiality and

							competence.

					iv)	Do the INEDs have letters of appointment	YES
						specifying their duties, liabilities and terms of
						engagement? Yes/No

					v)	Do the INEDs declare any conflict of interest	No conflict of interest was disclosed in the
						on appointment, annually, thereafter and as	declaration form
						they occur? Yes/No

					vi)	Does the Board ascertain and confirm the	YES- The appointment is measured and tested
						independence of the INEDs? Yes/No	against the principles enshrined in the various
						If yes, how often?	governance codes including the Nigerian Code of
						What is the process?	Corporate Governance

					vii)	Is the INED a Shareholder of the Company?
						Yes/No	NO
						If yes, what is the percentage shareholding?


					viii) Does the INED have another relationship with	NO
						the Company apart from directorship and/or
						shareholding? Yes/No
						If yes, provide details.

					ix)	What are the components of INEDs	ANNUAL ALLOWANCE AND SITTING ALLOWANCE
						remuneration?

Principle	8:	Company	i)	Is the Company Secretary in-house or	The Company Secretary is in-house
Secretary					outsourced?
"The	Company	Secretary
ii)	What is the qualification and experience of the	LLB, BL
support the effectiveness of the		Company Secretary?
Board	by	assisting	the Board
iii) Where the Company Secretary is an employee	YES
and management	to develop
	of the Company, is the person a member of
good	corporate	governance
	senior management?
practices and culture within the

Company"
		iv) Who does the Company Secretary report to?	The Company Secretary reports to the Board with a

							dotted line to the Managing Director/CEO

					v) What is the appointment and removal process	The appointment and removal process of the
						of the Company Secretary?	Company Secretary are under the authority of the
							Board of Directors and the process is contained in
							S333(1) and S333(2) of the CAMA 2020

					vi) Who undertakes and approves the	The Managing Director/CEO appraises the
						performance appraisal of the Company	Company Secretary
						Secretary?

Principle 9: Access to	i)	Does the company have a Board-approved	YES - The Board Charter and Abbey Code of
Independent Advice		policy that allows directors access to	Corporate Governance
"Directors	are	sometimes		independent professional advice in the
	discharge of their duties? Yes/No
required to make decisions of a
If yes, where is it documented?
technical	and	complex nature

that may require independent	ii) Who bears the cost for the independent	The Company
external expertise"			professional advice?

REPORT ON COMPLIANCE WITH THE NIGERIAN CODE OF CORPORATE GOVERNANCE 2018

	Principles				Reporting Questions	Explanation on application or deviation

					iii) During the period under review, did the	NO
						Directors obtain any independent professional
						advice? Yes/No
					If yes, provide details.

Principle 10: Meetings of the	i)	What is the process for reviewing and	The minutes of the previous meeting are reviewed
Board						approving minutes of Board meetings?	and approved at the next Board meeting
"Meetings	are the	principal
ii)	What are the timelines for sending the minutes	The minutes of meetings is usually sent at least 14
vehicle for	conducting	the		to Directors?	days before the date of the meeting
business	of	the Board	and
iii) What are the implications for Directors who do	It would affect their re-election
successfully	fulfilling	the
	not meet the Company policy on meeting
strategic	objectives	of	the
	attendance?
Company"

Principle	11:	Board
Committees

"To ensure efficiency and

effectiveness, the Board delegates some of its functions, duties and responsibilities to

well-structured committees,

without abdicating its responsibilities"

i)	Do the Board Committees have Board-	YES
	approved Charters which set out their
	responsibilities and terms of reference? Yes/No

ii)	What is the process for reviewing and	The minutes of the previous meeting are reviewed
	approving minutes of Board Committee of	and approved at the next Board Committee
	meetings?	meeting

iii) What are the timelines for sending the minutes	The minutes of meetings is usually sent at least 14
	to the directors?	days before the date of the meeting

iv) Who acts as Secretary to board committees?	The Company Secretary acts as the secretary of all
			Board Committee meetings

v) What Board Committees are responsible for the	Nomination and Governance - Board Governance
	following matters?	& Remuneration Committee
	a)	Nomination and Governance
	b)	Remuneration	Remuneration- Board Governance & Remuneration
	c)	Audit	Committee
	d)	Risk Management

			Audit- Board Audit & Compliance Committee
			Risk Management- Board Credit & Risk
			Management Committee

vi) What is the process of appointing the chair of	The Board of Directors appoints the Chairmen of all
	each committee ?	Committees based on qualifications and experience

		Committee responsible for Nomination and Governance

vii) What is the proportion of INEDs to NEDs on the	INEDs - 1
	Committee responsible for Nomination and	NEDs - 4
	Governance?


viii) Is the chairman of the Committee a NED or	The Chairman is an INED
	INED ?

ix)	Does the Company have a succession plan	YES- The Succession Plan is reviewed every three
	policy? Yes/No	years
If yes, how often is it reviewed?

x)	How often are Board and Committee charters	The Board and Board Committee Charters as well as
	as well as other governance policies reviewed?	Governance Policies are reviewed every three years

xi)	How does the committee report on its activities	Each Board Committee presents its report to the
	to the Board?	Board at every Board meeting

		Committee responsible for Remuneration

xii) What is the proportion of INEDs to NEDs on	INEDs - 1
	the Committee responsible for	NEDs - 4
	Remuneration?

xiii) Is the chairman of the Committee a NED or	The Chairman is an INED
	INED ?

REPORT ON COMPLIANCE WITH THE NIGERIAN CODE OF CORPORATE GOVERNANCE 2018

Principles		Reporting Questions		Explanation on application or deviation

		Committee	responsible for Audit

	xiv)	Does the Company have a Board Audit	YES
		Committee separate from the Statutory Audit
		Committee? Yes/No

	xv)	Are members of the Committee responsible	YES
		for Audit financially literate? Yes/No

	xvi)	What are their qualifications and experience?	High Chief Samuel Oni - ACA, MBA, FCCA, ACCA
			AVM. Olufemi Soewu - M.Sc
			Prof. Marius Umego - Ph.D, P.G.D.E, M.Sc, B.Sc
			Brig-Gen John Obasa - B.Sc, M.Sc
			Ms. Chika Ochonogor - LLM
	xvii) Name the financial expert(s) on the	High Chief Samuel Oni
		Committee responsible for Audit

	xviii) How often does the Committee responsible	The Internal Auditor's reports are reviewed
		for Audit review the internal auditor's reports?	quarterly by the Audit Committee

	xix)	Does the Company have a Board approved	YES
		internal control framework in place? Yes/No

	xx)	How does the Board monitor compliance with	The Board monitors the implementation of the
		the internal control framework?	internal control framework through the Board Audit
			& Compliance Committee. It reviews business
			strategies and significant policies of the Company.
			It ensures independent audit of internal control
			systems and receives periodic reports on material
			deficiencies in the internal control system.
	xxi)	Does the Committee responsible for Audit	YES - The Audit & Compliance Committee reviews
		review the External Auditors management	the external auditor's Management Letter, Key
		letter, Key Audit Matters and management	Audit Matters and Management response to issues
		response to issues raised? Yes/No	raised. Thereafter it presents its report to the Board.
	Please explain.	Monitoring of remedial actions is carried out by the
			Committee at subsequent meetings.

	xxii) Is there a Board-approved policy that clearly	NO. But in practice external auditors are prohibited
		specifies the non-audit services that the	from providing the following services:
		external auditor shall not provide? Yes/No	a.	Book keeping
			b.	Financial Information systems design and
				implementation
			c.	Appraisal or valuation services, fairness
				opinions, or contribution in-kind-report
			d.	Internal audit outsourcing services
			e.	Management function or human resources
			f.	Broker-dealer, investment adviser, or
				investment banking services
			g.	Legal Services and expert services unrelated to
				the audit.

	xxiii) How many times did the Audit Committee	The Audit Committee held discussions with the
		hold discussions with the head of internal	external auditors once and four times with the Head
		audit function and external auditors without	of Internal Audit during the period under review.
		the management during the period under
		review?

		Committee responsible for Risk Management

	xxiv) Is the Chairman of the Risk Committee a NED	The Chairman is a NED
		or an INED?

	xxv) Is there a Board approved Risk Management	YES- The revised Enterprise Risk Management
		framework? Yes/No?	Framework was approved in September 2023
	If yes, when was it approved?

	xxvi) How often does the Committee review the	The Risk Management Controls are reviewed
		adequacy and effectiveness of the Risk	quarterly
		Management Controls in place?

REPORT ON COMPLIANCE WITH THE NIGERIAN CODE OF CORPORATE GOVERNANCE 2018

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Abbey Mortgage Bank plc published this content on 19 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 March 2024 08:48:03 UTC.

End-of-day quote Nigerian S.E. Other stock markets 06:00:00 2024-05-16 pm EDT			5-day change	1st Jan Change
2.46 ^NGN	0.00%		-1.60%	+10.81%

Apr. 26	Abbey Mortgage Bank Plc Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Jan. 30	Abbey Mortgage Bank Plc Reports Earnings Results for the Fourth Quarter Ended December 31, 2023	CI

Abbey Mortgage Bank Plc Reports Earnings Results for the First Quarter Ended March 31, 2024	Apr. 26	CI
Abbey Mortgage Bank Plc Reports Earnings Results for the Fourth Quarter Ended December 31, 2023	Jan. 30	CI
Abbey Mortgage Bank Plc Reports Earnings Results for the Full Year Ended December 31, 2023	Jan. 30	CI
Abbey Mortgage Bank plc Announces Management Changes	Dec. 26	CI
Abbey Mortgage Bank Plc Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023	23-10-29	CI
Abbey Mortgage Bank Plc Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023	23-07-28	CI
Abbey Mortgage Bank Plc Reports Earnings Results for the First Quarter Ended March 31, 2023	23-04-28	CI
Abbey Mortgage Bank Plc Reports Earnings Results for the Fourth Quarter Ended December 31, 2022	23-01-27	CI
Abbey Mortgage Bank Plc Reports Earnings Results for the Full Year Ended December 31, 2022	23-01-27	CI
Abbey Mortgage Bank Plc Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022	22-10-27	CI
Abbey Mortgage Bank Plc Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022	22-07-26	CI
Abbey Mortgage Bank Plc Reports Earnings Results for the First Quarter Ended March 31, 2022	22-05-26	CI
Abbey Mortgage Bank Plc Reports Earnings Results for the Full Year Ended December 31, 2021	22-01-28	CI
Abbey Mortgage Bank Plc Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021	21-10-26	CI
Abbey Mortgage Bank plc Reports Earnings Results for the Second Quarter Ended June 30, 2021	21-07-29	CI
Abbey Mortgage Bank plc Reports Earnings Results for the First Quarter Ended March 31, 2021	21-04-28	CI
Abbey Mortgage Bank plc Reports Earnings Results for the Full Year Ended December 31, 2020	21-03-31	CI
Abbey Mortgage Bank plc Reports Earnings Results for the Third Quarter Ended September 30, 2020	20-11-05	CI
Abbey Mortgage Bank plc Reports Earnings Results for the Second Quarter Ended June 30, 2020	20-07-29	CI
Abbey Mortgage Bank plc Reports Earnings Results for the First Quarter Ended March 31, 2020	20-06-08	CI
Abbey Mortgage Bank plc Reports Earnings Results for the Fourth Quarter Ended December 31, 2019	20-01-28	CI
Abbey Mortgage Bank plc Reports Earnings Results for the Third Quarter Ended September 30, 2019	19-10-28	CI
Abbey Mortgage Bank plc Reports Earnings Results for the Second Quarter Ended June 30, 2019	19-07-31	CI
Abbey Mortgage Bank Plc Reports Earnings Results for the Full Year Ended December 31, 2018	19-04-16	CI
Bernard Okumagba Joins Abbey Building Society PLC as Non-Executive Director	13-09-05	CI

	1st Jan change	Capi.
ABBEY MORTGAGE BANK PLC	+10.81%	17.02M
BAJAJ FINANCE LIMITED	-8.05%	49.99B
BAJAJ FINSERV LTD.	-5.83%	30.63B
JIO FINANCIAL SERVICES LIMITED	+55.48%	27.62B
ORIX CORPORATION	+28.84%	25.14B
SYNCHRONY FINANCIAL	+15.06%	17.64B
CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED	+1.63%	12.92B
SHRIRAM FINANCE LIMITED	+15.48%	10.69B
MUTHOOT FINANCE LIMITED	+15.38%	8.21B
SOFI TECHNOLOGIES, INC.	-26.83%	7.7B

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