Access Holdings Gets Shareholders Approval to Raise N40bn   

Kayode Tokede

The management of Access Holdings Plc has secured shareholders approval to raise up to N40 billion in fresh equity capital via a private placement.

The bank kicked off the year with a rights issue. It raised N351 billion by issuing millions of new shares and increased its share capitalisation to N600 billion.

The capital helped the Tier 1 lender emerge as the first to beat the banking regulator’s N500 billion capitalisation benchmark.

The Holding Company disclosed this in a corporate filing with the Nigerian Exchange Limited (NGX). The approval was granted at the company’s Extraordinary General Meeting (EGM) held virtually on December 18, 2025.

The capital raise is part of Access Holdings’ broader strategy to strengthen its balance sheet and support its growth objectives across its banking and non-banking subsidiaries.

To accommodate the private placement, shareholders approved an increase in the company’s issued share capital from N26.66 billion to N27.65 billion, through the creation of 1.98 billion new ordinary shares of 50 kobo each.

The Holding Company said, “Following the increase, Access Holdings’ total issued shares will rise from about 53.32 billion to 55.29 billion ordinary shares. The new shares will rank pari passu with existing shares, implying that current shareholders could face dilution, depending on the final size and structure of the capital raise.

“Also, the Board of Directors have been authorised to allot the new ordinary shares created in connection with the private placement, at a price of N20.25 per share or as determined by the Board to one or more investors in such tranches and on such terms and conditions as shall be determined by the Board.”

Access Holdings added, “The shareholders have authorized the board of Directors to take such further actions and do such further things as may be required to give effect to the above resolutions including but not limited to obtaining the approvals of the relevant regulatory authorities including the Central Bank of Nigeria, the Securities and Exchange Commission and the Nigerian Exchange Limited as well as complying with the directives of any relevant regulatory authority.”