Access Holdings Plc has successfully concluded its N351 billion Rights Issue, with approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC). This achievement positions its subsidiary, Access Bank Plc, as the first Nigerian bank to exceed the CBN’s N500 billion capital requirement for international banks ahead of the March 2026 deadline.
The Rights Issue offered 17.77 billion ordinary shares at N19.75 per share and was oversubscribed by 5.76 percent, demonstrating shareholders’ confidence. This raised Access Bank’s capital to N600 billion, surpassing the regulatory threshold by N100 billion.
Chairman of Access Holdings, Aigboje Aig-Imoukhuede, expressed pride in the accomplishment, stating: “The Access brand has always had strong appeal among investors. Since 2004, Access Bank has consistently raised capital to meet regulatory demands. This success highlights the resilience of Nigeria’s capital markets and our shareholders’ trust in our vision.”
Acknowledging the support of regulators, he added: “We appreciate the unwavering commitment of the CBN and SEC, which ensured the success of this initiative. We are especially grateful to our shareholders for their loyalty over the past 22 years.”
Applications for 18.82 billion shares valued at N371.77 billion exceeded the offer, with 18.75 billion shares worth N370.41 billion allocated after regulatory reviews. The fully digital Rights Issue leveraged the Nigerian Exchange’s E-offer platform, simplifying the process and increasing participation.
With its stronger capital base, Access Bank is set to expand its operations, deliver innovative solutions, and drive sustainable growth.
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