By Stanley Onyeka, Lagos
Access Holdings Plc has announced that it has secured the full regulatory approvals of the Central Bank of Nigeria (CBN), and the Securities and Exchange Commission (SEC) of its recently closed Right Issue.
The Rights Issue of 17,772,612,811 Ordinary Shares of 50 Kobo each at N19.75 Kobo per share is said to have raised the targeted amount of over N351.009billion.
In a statement, the HoldCo. said this development has positioned its flagship subsidiary, Access Bank Plc as the first bank to meet the CBN’s N500 billion minimum capital requirements for Banks with International Authorisation well ahead of the March 2026 regulatory deadline.
“With the success, the Bank’s share capital would increase to N600 billion, N100 billion above the regulatory minimum requirement,” the statement added.
It further claimed to be the first CBN licensed and regulated financial Holding Company to successfully execute a fully digital Rights Issue embracing the power of technology to improve access to the equity capital market.
By leveraging the NGX’s E-offer platform, the Company provided its shareholders with a seamless, efficient, and convenient subscriber experience significantly reducing barriers and democratising participation in the Rights Issue.
Speaking on the successful offer, the HoldCo. Chairman, Aigboje Aig-Imoukhuede, was quoted as saying: “The Access brand has always resonated strongly with the local and international capital markets. Since 2004, Access Bank has raised billions of dollars in capital to meet successive CBN recapitalisation directives.
“We are pleased that this time we are the first to breast the tape. The success of the Rights Issue demonstrates the resilience of Nigeria’s capital market and reinforces our shareholders confidence in the present value and potential of our Company.”
Expressing appreciation to the CBN, SEC and company shareholders for their confidence, Mr. Aig-Imoukhuede projected that “As we enter into the new year, we are well-positioned to leverage our enhanced capital base to deliver sustainable value for our stakeholders.”
The success of the Rights Issue demonstrates the resilience of Nigeria’s capital market and reinforces our shareholders’ confidence in the present value and potential of our Company.
