Abbey Mortgage Announce Retirement of MD/CEO, Chairman …appoints new chairman and Acting Managing Director/CEO


Abbey Mortgage Bank Plc, a leading Financial Institution in the Mortgage sub-sector has announced the retirement of its Chairman and Managing Director/Chief Executive Officer.

The Bank’s Chairman’s –  Ifeanyi Boniface Ochonogor has retired from the Bank with effect from 28th February 2020, having served laudably for almost 30 years. During that period, he led the Board with uncommon passion and zeal. He entrenched the culture of excellence in the Bank.

The Bank is pleased to announce that Mazi Emmanuel Kanu  IVI has been appointed to replace Chief Ochonogor effective from 28th February 2020. The new Chairman was a Non-Executive Director at Abbey Mortgage Bank for 28 years and a Fellow of the Institute of Chartered Accountants of Nigeria.

The Managing Director/CEO, – Rose Ada Okwechime also retired from the Bank with effect from 31st May 2020, having pioneered and led the Management of the Bank for 28 years. She has been working passionately to build, nurture, and consolidate the Bank’s reputation as an icon in the Nigerian Mortgage Banking industry.

“I am filled with gratitude as I write this to let you know that I will be handing over my position at Abbey Mortgage Bank Plc. As we are moving into a new decade, our plans for Abbey Mortgage Bank Plc is only growing bigger. With this significant growth that we are going to experience, there will also be some change. That is why my title as Managing Director will come to an end for my successor to be able to take Abbey to the next level.

Over the years, we have grown Abbey Mortgage Bank into a company that creates tremendous value for our clients. We have prioritized the interests of our clients continuously and strived to ensure that these needs were adequately catered to. One of the pillars upon which Abbey Mortgage Bank is built is the support that comes from our clients. I want to thank you for your continued support over the years and hope that you are looking forward to this growth as much as I am. It was indeed an honor to serve you and have you as a part of our journey, and I will be looking forward to our years together to come. I am incredibly hopeful about what lies ahead for the company. The strategic partnerships we have made, particularly in the past year, assures me that Abbey Mortgage Bank is in fantastic hands and things can only get better from here. Thank you once again.” –  Okwechime

Madu Hamman has been appointed as Acting Managing Director/CEO in consonance with the Bank’s Succession Plan Policy. The appointment would become substantive when the Central Bank of Nigeria approves it.

Prior to his present role,  Madu Hamman was the Executive Director in charge of Finance and Administration; a position he held for twelve years. He has over 35 years of banking experience spread across Commercial, Merchant, and Mortgage Banking. His competencies include strategic leadership, credit administration, and international finance. He is an alumnus of IMD Lausanne and holds a B.Sc. in Geography and MBA in Technology and Strategy.  Hamman will lead a vibrant, proactive, innovative and forward-looking Management team that will take the Bank to the next stage of its strategic growth.

Abbey Mortgage Banks Plc [formerly Abbey Building Society Plc] was incorporated in Nigeria as a private limited company on 26th August 1991 and obtained its license to operate as mortgage bank on 20th January 1992. On 11th March 1992, it commenced business and later converted to a public liability company in September 2007. The company was listed on the Nigerian Stock Exchange on 21st October 2008.

Abbey is also an accredited primary mortgage bank (PMB) for the National Housing Fund (NHF) and a subscriber to the Nigeria Mortgage Refinance Company Plc (NMRC)

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