In a significant milestone for the Nigerian banking sector, Access Bank Plc has become the first financial institution to surpass the Central Bank of Nigeria’s (CBN) minimum capital requirement of N500 billion.
This achievement follows the successful completion of a Rights Issue, which raised an impressive amount of N351 billion, positioning the bank well ahead of the March 2026 regulatory deadline.
Access Holdings Plc recently disclosed that it has received full regulatory approvals from both the Central Bank of Nigeria and the Securities and Exchange Commission for its recently closed Rights Issue.
This initiative involved the issuance of 17,772,612,811 Ordinary Shares of 50 Kobo each at a price of N19.75 per share, successfully raising N351, 009,103,017.25.
With this success, the bank’s share capital increased to N600 billion, which is N100 billion above the regulatory minimum requirement.
Dedicated to innovation, the company is the first CBN-licensed and regulated Financial Holding Company to successfully execute a fully digital Rights Issue, leveraging technology to enhance access to the equity capital market.
By leveraging 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 Holding Company’s Chairman, Aigboje Aig-Imoukhuede, CFR, said:
“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 we are the first to breast the tape this time. The success of the Rights Issue demonstrates the resilience of Nigeria’s capital market and reinforces our shareholder’s confidence in our company’s present value and potential.
‘’We deeply acknowledge the invaluable and strong support of the Central Bank of Nigeria and the Securities and Exchange Commission who both played crucial roles in ensuring the integrity and efficacy of our Rights Issue exercise.
‘’We are also grateful to our valued shareholders, whose loyalty to the Access brand and vision for over 22 years has been most inspiring and unwavering.
‘’As we enter into the New Year, we are well-positioned to leverage our enhanced capital base to deliver sustainable value for our stakeholders.”
