Investors Acquire 72.35% Stake in Abbey Bank Plc

Abbey Bank Plc announced that five investors have acquired a significant 72.35% stake in the bank following a private placement of 26.56 billion ordinary shares, each with a nominal value of 0.50 kobo and issued at N2.43 per share. In a notice to the Nigerian Exchange Limited dated September 17, 2026, the bank disclosed that Abdulganiyu Olajide Adeola emerged as the largest shareholder with 6.996 billion shares, representing 19.05% of the bank's equity.

Herei Limited holds 6.784 billion shares, equivalent to 18.48%, while Archetype Energy Services Limited possesses 6.333 billion shares, representing 17.25%. Cardinalstone Asset Management Limited has 4.012 billion shares, giving it a 10.93% stake, and Jotani Investment Limited holds 2.437 billion shares, or 6.64%.

Together, these five shareholders account for approximately 26.56 billion shares. This transaction is part of Abbey Bank's efforts to strengthen its capital base amid the Central Bank of Nigeria's recapitalisation programme, which mandates increased minimum paid-up capital for commercial banks.