ABBEY MORTGAGE BANK : COMPLIANCE WITH THE NIGERIAN CODE OF CORPORATE GOVERNANCE

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FINANCIAL REPORTING COUNCIL OF NIGERIA

(Federal Ministry of Industry, Trade & Investment)

FRC/CG/001: TEMPLATE 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:

1. Every line item and indicator must be completed.
2. Respond to each question with "Yes" where you have applied the principle, and "No"

where you are yet to apply the principle.

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

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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 DECEMEBER
viii.	Is the Company a part of a Group/Holding Company?		NO
	Yes/No
	If yes, please state the name of the Group/Holding
	Company
ix.	Name and Address of Company Secretary		GEOFF AMAGHEREONU ESQ - 23 KARIMU
					KOTUN STREET, VICTORIA ISLAND, LAGOS
x.	Name and Address of External Auditor(s)		DELOITTE - CIVIC TOWERS, PLOT GA1,
					OZUMBA MBADIWE ROAD, VICTORIA
					ISLAND, LAGOS.
xi.	Name and Address of Registrar(s)		AFRICA PRUDENTIAL PLC- 28 IKORODU
					ROAD, PALMGROOVE, LAGOS
xii.	Investor Relations Contact Person		MATHILDA GIWA-AMU
	(E-mail and Phone No.)				m.giwa-
				[e-mail]
					08034043829
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 Members	Designation		Gender		Date First		Remark
		(Chairman, MD, INED, NED,					Appointed/ Elected
		ED)
1	MAZI EMMANUEL KANU	CHAIRMAN		M			24TH FEBRUARY, 2020
	IVI
2	MR. MADU HAMMAN	MANAGING DIRECTOR/CEO		M			3RD JUNE, 2020
3	MR. MOBOLAJI ADEWUMI	EXECUTIVE DIRECTOR		M			3RD FEBRUARY, 2020
4	MR. OLADIPUPO ADEOYE	EXECUTIVE DIRECTOR		M			26TH JUNE, 2020
5	AVM. OLUFEMI SOEWU (RTD)	NON-EXECUTIVE DIRECTOR		M			3RD JULY, 2007
6	HIGH CHIEF SAMUEL ONI	INDEPENDENT NON-		M			14TH JULY, 2016
		EXECUTIVE DIRECTOR

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7	MR. NONSO OKPALA	NON-EXECUTIVE DIRECTOR	M	3RD FEBRUARY, 2020
8	PROFESSOR MARIUS UMEGO	NON-EXECUTIVE DIRECTOR	M	3RD FEBRUARY, 2020
9	BRIG-GEN JOHN OBASA	NON-EXECUTIVE DIRECTOR	M	24TH FEBRUARY, 2020
10	MISS JEWEL OKWECHIME	NON-EXECUTIVE DIRECTOR	F	3RD FEBRUARY 2021
11	MRS. CHRISTABEL ONYEJEKWE	INDEPENDENT NON-	F	3RD FEBRUARY 2021
		EXECUTIVE DIRECTOR
12	MISS CHIKA OCHONOGOR	NON-EXECUTIVE DIRECTOR	F	5TH MARCH 2021

2. Attendance at Board and Committee Meetings:

S/No.	Names of Board Members	No. of	No. of	Membership	Designation	Number of	Number of
		Board	Board	of Board	(Member or	Committee	Committee
		Meetings	Meetings	Committees	Chairman)	Meetings Held in the	Meetings
		Held in the	Attended			Reporting Year	Attended in
		Reporting	in the				the
		Year	Reporting				Reporting
			Year				Year
1	MAZI EMMANUEL KANU IVI	5	5
2	MR. MADU HAMMAN	5	5	Board Credit	Member	4	4
				& Risk
				Management
				Committee
				Board	Member	5	5
				Strategy &
				Financial
				Analysis
				Committee
3	MR. MOBOLAJI ADEWUMI	5	5	Board Credit	Member	4	4
				& Risk
				Management
				Committee
				Board	Member	5	5
				Strategy &
				Financial
				Analysis
				Committee
4	MR. OLADIPUPO ADEOYE	5	5	Board Credit	Member	4	4
				& Risk
				Management
				Committee
				Board	Member	5	5
				Strategy &
				Financial
				Analysis
				Committee

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5	AVM. OLUFEMI SOEWU	5	5	Board Credit	Chairman	4	4
				& Risk
				Management
				Committee
				Board Audit &	Member	5	5
				Compliance
				Committee
6	HIGH CHIEF SAMUEL ONI	5	5	Board Audit &	Chairman	5	5
				Compliance
				Committee
				Board Credit	member	4	4
				& Risk
				Management
				Committee
7.	MR. NONSO OKPALA	5	5	Board	Chairman	5	5
				Strategy &
				Financial
				Analysis
				Committee
				Board Credit	Member	4	3
				& Risk
				Management
				Committee
8	PROFESSOR MARIUS UMEGO	5	5	Board Audit &	Member	5	3
				Compliance
				Committee
				Board	Member	4	4
				Governance
				&
				Remuneration
				Committee
9	BRIG-GEN JOHN OBASA	5	5	Board Audit &	Member	5	5
				Compliance
				Committee
				Board	Member	4	4
				Governance
				&
				Remuneration
				Committee
10	MISS JEWEL OKWECHIME	5	5	Board	Member	5	5
				Strategy &
				Financial
				Analysis
				Committee
				Board	Member	4	4
				Governance
				&
				Remuneration
				Committee

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11	MRS. CHRISTABEL	5	5	Board	Chairman	4	4
	ONYEJEKWE			Governance
			&
				Remuneration
				Committee
				Board	Member	5	5
				Strategy &
				Financial
				Analysis
				Committee
12	MISS CHIKA OCHONOGOR	5	3	Board	Member	4	2
				Governance
				&
				Remuneration
				Committee
				Board Audit &	Member	5	2
				Compliance
				Committee

Section D - Details of Senior Management of the Company

1. Senior Management:

S/No.	Names	Position Held	Gender
1	MR. MADU HAMMAN	MANAGING DIRECTOR/CEO	M
2	MR. MOBOLAJI ADEWUMI	EXECUTIVE DIRECTOR FINANCE &	M
		ADMIN
3	MR. OLADIPUPO ADEOYE	EXECUTIVE DIRECTOR TREASURY	M
		/OPERATIONS
4	MRS. LOLITA EJIOFOR	GROUP HEAD IT & RESOURCES	F
5	MR. GEOFF AMAGHEREONU	COMPANY SECRETARY	M
6	MR. ABIODUN LASISI	HEAD OF LOAN MONITORING AND	M
		RECOVERY
7	MR. OLUWATOMI OLURINOLA	HEAD FINANCIAL CONTROL	M
8	MR. OLUSHOLA SEIDU	HEAD INTERNAL CONTROL &	M
		COMPLIANCE
9	MS. BUKOLA EWEDAIRO	HEAD HUMAN RESOURCES	F
10	MR. ADELEKE OLAOTI	HEAD INTERNAL AUDIT	M
11	MS. FUNMI FEMI-OMAGE	HEAD OPERATIONS	F
12	MRS. IDONGESIT ABIA	HEAD RISK MANAGEMENT	F

Section E - Application

Principles	Reporting Questions	Explanation on application or deviation
Part A - Board of Directors and Officers of the Board

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