• Strengthens Banking Subsidiary’s Capital Position Beyond Regulatory Requirements

 

 

Access Holdings Plc, has announced the successful conclusion of its Rights Issue, securing full regulatory approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC).

The Rights Issue involved the issuance of 17,772,612,811 Ordinary Shares of 50 Kobo each at N19.75 per share, raising a total of N351,009,103,017.25.

This milestone solidifies the Company’s flagship subsidiary, Access Bank Plc (“the Bank”), as the first Nigerian bank to meet the CBN’s N500 billion minimum capital requirement for banks with international authorization, ahead of the March 2026 deadline. The Bank’s share capital will now increase to N600 billion, exceeding the regulatory minimum by N100 billion.

As a pioneer in adopting digital solutions, Access Holdings Plc is the first CBN-licensed financial holding company to execute a fully digital Rights Issue. Leveraging the NGX E-offer platform, the Company provided a seamless and inclusive subscription process, enabling greater shareholder participation and democratizing access to the equity capital market.

Commenting on this achievement, Aigboje Aig-Imoukhuede, CFR, Chairman of Access Holdings Plc, stated:
“The Access brand has consistently demonstrated strength in local and international capital markets. Since 2004, Access Bank has raised billions of dollars to comply with successive CBN recapitalization directives. Being the first to meet this milestone reaffirms our commitment to excellence.

The success of this Rights Issue highlights the resilience of Nigeria’s capital market and underscores the confidence our shareholders have in the value and future potential of our Company.

We deeply appreciate the unwavering support of the Central Bank of Nigeria and the Securities and Exchange Commission, whose oversight ensured the integrity of this exercise.

To our loyal shareholders, whose commitment over the past 22 years has been truly inspiring, we express our heartfelt gratitude. With an enhanced capital base, we are poised to deliver sustained value to all our stakeholders as we enter the new year.”