Abbey Mortgage Bank Plc has confirmed that its largest shareholder, VFD Group Plc, has sold a significant portion of its holdings in the company.
In a corporate filing with the Nigerian Exchange (NGX), Abbey disclosed that VFD Group offloaded 400,828,935 units of its shares in the bank, a transaction valued at more than ₦2.72 billion. The notice, signed by the company secretary, Geoff Amaghereonu, stated that the sale was executed in Lagos on September 17, 2025.
According to details contained in the disclosure, the shares were sold at an average price of ₦6.80 per unit, under the NGX identification code NGABBEY00001.
The development marks one of the largest single transactions involving Abbey Mortgage Bank in recent months and comes at a time when the financial services sector is experiencing heightened activity in capital markets.
Market analysts say the sale could signal a strategic shift in VFD Group’s investment portfolio, though the company has yet to issue a statement clarifying its long-term intentions regarding Abbey Mortgage Bank.
Abbey Mortgage Bank, a leading primary mortgage institution in Nigeria, has continued to strengthen its footprint in the housing finance sector, with a growing focus on retail and corporate mortgage offerings. The impact of the share sale on the bank’s ownership structure and future direction is expected to attract close scrutiny from investors and regulators in the coming weeks.
