The company disclosed this in a notice to the Nigerian Exchange Limited, shareholders and the investing public.

Over the two decades with Access Holdings, Bolaji Agbede held several leadership positions and played an influential role in its growth and development.

Her most prominent assignment came in February 2024 after the death of the Group’s former Chief Executive Officer, Dr Herbert Wigwe. She was appointed Acting Group Chief Executive Officer and led the company through a difficult period while ensuring business operations continued without disruption.

In a statement signed by the Group Company Secretary, Sunday Ekwochi, the Board thanked Agbede for her years of service and the leadership she provided during one of the company’s most challenging moments.

“The Board expresses its profound appreciation for her dedicated service and for the exemplary leadership she provided as Acting Group Chief Executive Officer of the Company following the tragic passing of the former Group Chief Executive Officer, Dr. Herbert Wigwe, CFR, in February 2024. 

“During a critical period in the Group’s history, she demonstrated remarkable professionalism, stability, and commitment, helping to ensure continuity of leadership and sustained business performance.”

The Board also acknowledged her contributions to the Group over the years and wished her success in the next phase of her career.

“The Board thanks Ms. Agbede for her invaluable contributions to the Group and wishes her continued success and fulfilment in all her future endeavours.”

Before taking on the acting Group CEO role, Agbede served as Executive Director, Business Support, and had built a career spanning human resources, banking operations and customer relationship management.

She joined Access Bank in 2003 as an Assistant General Manager after earlier working at Guaranty Trust Bank and later leading JKG Limited, a business consulting firm. Over the years, she also oversaw the Group’s human capital function, leading people development and supporting major organisational changes.

Agbede holds a degree in Mathematics and Statistics from the University of Lagos and an MBA from Cranfield University in the United Kingdom. She is a member of the Chartered Institute of Management, UK, and the Chartered Institute of Personnel Management of Nigeria.

The post Access Holdings Executive Director Bolaji Agbede Retires After Two Decades of Service appeared first on Tech | Business | Economy.

Nestoil Limited and Neconde Energy Limited have commenced legal proceedings seeking $1.8 billion in damages against FBN Quest, FBN Trustees, FirstBank, Access Bank, Zenith Bank, a court-appointed receiver, and other parties over the alleged unlawful disruption of crude oil production.

The companies claim the actions of the defendants resulted in significant production losses of about 20,000 barrels of oil per day, triggering substantial financial and operational setbacks.

Both companies alleged that the banks’ actions and the actions of their receiver crippled operations, slashing crude oil output from 60,000 barrels per day to below 40,000 barrels per day.

Besides, Nestoil and Neconde maintained that the action also impacted the planned new oil wells drilling campaign with the Pathfinder 500 Drilling Rig with devastating financial consequences and wider economic impact.

This was as the bid by Firstbank to orchestrate the reassignment of the ongoing trial court suit between FBNquest Merchant Bank Ltd/First Trustees Ltd and Nestoil/Neconde has completely collapsed under the full weight of the Supreme Court’s authority, with the Honourable Chief Judge firmly rejecting the reassignment application as baseless and legally untenable.

Relying squarely on the apex court’s judgment in Neconde Energy Limited v. FBNQuest Merchant Bank Ltd & 4 Ors., the Chief Judge made it clear that the Supreme Court found no fault with Hon. Justice Osiagor and gave no hint, directly or indirectly, that the case should be reassigned.

Instead, the Supreme Court ruling condemned the very tactics deployed by Firstbank describing their attempt to stall proceedings they initiated as suggestive of ulterior motives and a misuse of judicial process. That damning pronouncement has now sealed the fate of the reassignment bid.

Backed by the binding force of Section 235 of the Constitution, the court held that there is absolutely no legal basis to displace the trial judge. The attempt has been exposed for what has been termed a failed strategy to derail and manipulate the proceedings, with the consequences escalating fast.

With the Supreme Court’s rebuke now echoing through the case and a $1.8 billion claim on the way, the stakes have shifted dramatically, turning the matter into a high-impact legal and commercial show-down with far-reaching implications.

Meanwhile, a firm, Drawcok Estate Ltd has instituted a whopping N100 billion lawsuit against FBNQuest Merchant Bank Ltd, First Trustees Ltd, Mr Abubakar Sulu-Gambari (SAN) and the Deputy Sheriff, Federal High Court of Nigeria, Lagos division, over the alleged unlawful and forceful seizure of its property.

The firm in the suit marked: FHC/L/CS/22/26, claimed that the action of the defendants injured its business reputation, and caused it untold hardship, embarrassment, public odium, economic hardship and occasioned a breach of its right to fair hearing and the right to own moveable and immoveable properties.

According to the plaintiff, the defendants knowingly levied execution of a court order on its property No. 41, No. 42 Akin Adesola Street and 60 Saka Tinubu Street, Victoria Island, Lagos, when the Plaintiff was neither a party to the court proceedings, the Order granted, nor are the property part of the assets contained in the Common Terms Agreement (CTA), under which the Order of the Court was sought and obtained.

Recall that the defendants are currently locked in a legal battle with Nestoil Ltd, Neconde Ltd and two others over an alleged indebtedness.

Following the orders of Justice Dipeolu of the Lagos division of the Federal High Court, the defendants through the support of security personnel had taken over and sealed the property known as No. 41, No. 42 Akin Adesola Street and 60 Saka Tinubu Street, Victoria Island, Lagos, belonging to the plaintiff.

“On Monday, October 28, 2025, the Plaintiff’s officers and staff received a barrage of calls from Plain-tiff’s security personnel at its property, the Property in issue, that the 1st, 2nd and 3rd Defendants led the 4th Defendant with heavily armed security personnel of the Nigeria Police Force, accompanied by personnel of the State Security Services, to the property in issue, sacked the Plaintiff’s security personnel and in a commando fashion broke into the property in issue.

“In the process of forcefully gaining access into the property in issue, the Defendants molested the security personnel at the premises, destroyed the plaintiff’s electronic gates, mutilated the property by painting inscriptions on the walls to the effect that the property had been taken possession of vide order of the Federal High Court, the Court, granted by His Lordship, Hon. Justice Dipeolu in Suit No. FHC/L/CS/2127/2025 between 1. FBNQUEST MERCHANT BANK LIMITED 2. FIRST TRUSTEES LIM-ITED and NESTOIL LIMITED and Others”, the plaintiff claimed.

In an eight-paragraph affidavit deposed in support of the suit plaintiff stated that upon a cursory examination of the processes and order granted by the court, it was never in any way affected by the orders of the court.

The deponent, Mr Akinniyi, who is the legal counsel to the plaintiff argued that FBNQuest Merchant Bank Ltd, First Trustees Ltd and Mr Abubakar Sulu-Gambari (SAN), who are 1st, 2nd and 3rd defend-ants knew or had cause to know that the Plaintiff and its assets, including No. 41, No. 42 Akin Adesola Street and 60 Saka Tinubu Street, Victoria Island, Lagos, is expressly exempted from the CTA, and not covered by the Order granted by the Court in Suit No. FHC/L/CS/2127/2025.

Akinniyi added that despite knowing this they withheld that information and willingly misled the Court to grant the Order against the Plaintiff’s property and also misled 4th Defendant to levy execution on the Plaintiff’s property No. 41, No. 42 Akin Adesola Street and 60 Saka Tinubu Street, Victoria Island, Lagos to the chagrin and embarrassment of the Plaintiff.

“The 1st to 3rd defendants deliberately caused the security cameras in the Plaintiff’s property to be sprayed with paint, effectively rendering them useless and exposing the property to security risks.

“The 1st to 3rd defendants also prevented Plaintiff’s tenants from gaining access to their offices and equally prevented the Technical Staff manning the building from egress and ingress even to buy food as they have been surviving on snacks since they cannot leave the building unmanned,” he argued.

Among the issues raised for determination are: Whether by the provisions of Section 34 of the Sheriffs and Civil Process Act, Cap. S6, Laws of the Federation of Nigeria 2004, and the Order II Rule 29(2) of the Judgements (Enforcement) Rules, the Plaintiff is forthwith entitled to restitution of his property No. 41, No. 42 Akin Adesola Street and 60 Saka Tinubu Street, Victoria Island, Lagos and damages arising out of the wrongful execution of the Order of the Federal High Court in Suit No. FHC/L/CS/2127/2025.

The plaintiffs are also asking for “An order of injunction restraining the defendants from further trespassing or in any way interfering with the plaintiff’s property No. 41, No. 42 Akin Adesola Street and 60 Saka Tinubu Street, Victoria Island, Lagos.

They are also asking for “An order awarding damages of N100,000,000,000.00 (One Hundred Billion Naira) only against the 1st, 2nd and 3rd defendants jointly and severally to the plaintiff.

[Source]

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The disclosure, filed by Access Holdings Plc, with the Nigerian Exchange, signals a leadership transition within one of Nigeria’s largest banking groups, as Okoli concludes a career defined by strong influence in retail banking and SME growth.

Okoli joined Access Bank in 2019 as Executive Director and rose to the role of Deputy Managing Director (Retail South) in 2022.

During her tenure, she played a key role in expanding the bank’s retail footprint, deepening customer acquisition, and strengthening offerings targeted at small and medium-sized enterprises across its markets.

Her exit comes as part of a planned transition following the completion of her term, according to the company.

In a statement, the Board of Access Holdings commended her contributions, noting that her leadership helped drive retail strategy and business development initiatives across the bank’s operations.

With nearly three decades of banking experience, Okoli’s career spans commercial, corporate, and institutional banking, having started at the defunct Diamond Bank before its merger with Access Bank.

While the group has yet to name a successor, her departure adds to ongoing executive-level changes within Nigeria’s banking sector as institutions reposition for growth, digital transformation, and evolving customer demands.

The post Chizoma Okoli Exits Access Bank Plc as DMD appeared first on Tech | Business | Economy.

As commerce increasingly transcends national borders, the demand for seamless, reliable cross-border transactions has intensified.

In response, Verve has launched a deliberate continental expansion under its Destination Campaign, positioning itself not merely as a domestic card scheme, but as a pan-African payments enabler.

With over 100 million cards issued, Verve has achieved significant scale within domestic markets. The next phase focuses on enhancing interoperability across African corridors, with East Africa, particularly Kenya and Uganda, serving as the primary testing ground for this African Expansion Drive.

Vincent Ogbunude, managing director of Verve International, emphasized the strategic importance of African-owned payment infrastructure in facilitating cross-border commerce and reinforcing economic resilience:

“Africa’s economic potential depends on payments infrastructure that is designed for its unique realities. Verve’s expansion into East Africa goes beyond issuing cards, it is about creating a network of payment infrastructure that is secure, reliable, and purpose-built for the continent. By enabling entrepreneurs, SMEs, corporates, and everyday travellers to transact seamlessly across borders, we are ensuring that value remains within African markets, fostering economic integration, and demonstrating that Africa can build world-class financial systems from within.”

The choice of East Africa is highly strategic. The region’s mature digital banking ecosystem, robust regulatory frameworks, and vibrant commercial networks provide an ideal environment to validate cross-border acceptance and infrastructure integration.

Verve’s expansion model leverages a hybrid advantage, combining the reliability and local alignment of a domestic scheme with growing cross-border capabilities.

This approach allows African markets to transact regionally without excessive reliance on external settlement systems.

Significant progress has already been achieved. Key issuing partners, including FCMB, Union Bank, Jaiz Bank, Taj Bank, and Access Bank, have enabled cardholders to use Verve cards confidently beyond Nigeria.

On the acquiring side, partnerships with KCB, Equity Bank and others are embedding acceptance across East Africa’s merchant ecosystem, strengthening the practical infrastructure required for seamless regional payments.

Cherry Eromosele, executive vice president, group marketing and Corporate Communications at Interswitch Group, highlighted the tangible benefits this expansion brings to consumers, businesses, and regional trade:

“Our vision is to contextualise payments for African realities. By extending Verve’s trusted domestic infrastructure into East Africa, we are enabling consumers and businesses to transact across borders with the same convenience and security they enjoy at home. This expansion is not simply about issuing cards; it is about facilitating transactions and exchange of value, supporting regional commerce, and strengthening financial connectivity across the continent.”

Significantly, Verve has extended its reach beyond financial institutions to secure real-world merchant acceptance. Cardholders can now transact seamlessly at Kenya Commercial Bank ATMs and POS, prominent lifestyle and hospitality destinations, including The Carnivore Restaurant, Tamarind Hotels, Tamarind Dhow, Roast by Carnivore, Kengeles, and Social House.

These channels and venues serve as strategic touchpoints within the continent’s business and tourism ecosystems.

By ensuring acceptance in high-traffic, high-visibility locations, Verve transforms payment infrastructure into a seamless, lived experience.

This expansion is not about scale for its own sake, it is about relevance, adaptability, and reinforcing Africa’s internal economic connectivity.

As trade corridors deepen and mobility across the continent grows, interoperable payments are becoming indispensable infrastructure.

Through its East Africa rollout, Verve demonstrates that Africa’s financial future can be powered by solutions designed and built from within for African realities and scaled to meet continental ambitions.

The post Verve with 100 million Cards Issued Targets East Africa Expansion appeared first on Tech | Business | Economy.

The transaction, valued at approximately R2.8 billion (₦245 billion), hit a “long-stop” deadline on January 26, 2026, without securing the final regulatory nod from the CBN.

While the termination marks a temporary setback for Nigeria’s largest lender by assets, leadership remains optimistic.

Access Bank MD Roosevelt Ogbonna reaffirmed the bank’s commitment to the Southern African market, noting that the group remains “constructively engaged” with stakeholders to find a potential path to closure.

The “Cardoso Factor” Sources indicate that the hurdle wasn’t with South African authorities but within the CBN’s rigorous vetting process.

Under Governor Olayemi Cardoso, the apex bank has prioritized process over commercial speed, ensuring that multi-jurisdictional deals comply with every facet of Nigerian banking regulation.

The Glimpse of Hope Despite the expiration of the current agreement, Bidvest Group has not shut the door entirely.

While they have relaunched the disposal process, they remain open to renegotiation if terms align. For Access Bank, the strategic intent to use South Africa as a gateway for the SADC region remains unchanged, signaling that this is a “strategic speed bump” rather than a dead end.

Source: ThisDay

The post Access Bank Bidvest Acquisition Update appeared first on Tech | Business | Economy.

With the surge in holiday shopping and travel, financial institutions across the country, including heavyweights like Access Bank, are warning customers that cybercriminals are currently working overtime.

Here is a breakdown of why that public connection is a “no-go” for your banking app and how you can stay protected.

The Invisible Thief: How it Happens

It feels convenient to check your balance or make a quick transfer while waiting for a flight or sipping coffee at a café.

However, cybersecurity experts warn that public Wi-Fi networks in airports, hotels, and restaurants are often unsecured.

Criminals use a technique called a “man-in-the-middle” attack. In simple terms, they position themselves between your device and the bank’s server.

While you think you’re communicating directly with your bank, the hacker is actually intercepting every piece of data you send, including your login credentials, PINs, and OTPs.

Why the Holiday Season is “Peak Season” for Fraud

Data from the Nigeria Inter-Bank Settlement System (NIBSS) shows that digital fraud losses already run into tens of billions of Naira annually.

These numbers typically spike during the Christmas and New Year period because:

• High Transaction Volume: People are spending more, making it easier for a single fraudulent transaction to get lost in the noise.
• Distraction: In the rush of holiday travel and celebrations, users are less likely to double-check the security of their connection.
• Social Engineering: Scammers pair technical hacks with “tempting offers” and urgent messages to trick users into lowering their guard.

Practical Tips to Protect Your Money

Banks are emphasizing that while they invest heavily in security infrastructure, the ultimate “line of defense” is the customer.

To keep your accounts safe this season:

1. Ditch the Public Wi-Fi: Always use your mobile data (3G/4G/5G) or a trusted, password-protected private network for any financial transactions.
2. Verify via Official Apps: Instead of relying on SMS alerts alone (which can be faked), use your official banking app (like AccessMore) to verify transaction history.
3. The “Big Three” Rule: Never share your PIN, OTP, or CVV with anyone. No legitimate bank official will ever ask for these.
4. Know the Kill Switch: Memorize your bank’s USSD “block” code. For Access Bank, for instance, it is *901*911#. If you suspect your phone or account has been compromised, use it immediately to freeze your funds.

The Bottom Line

As Central Bank Governor Olayemi Cardoso recently noted, the future of Nigeria’s digital economy relies on a balance between innovation and security. While digital banking makes life easier, it requires constant vigilance.

This holiday, don’t let a “free” internet connection turn your festive cheer into a financial nightmare. When it comes to your bank account, privacy is more valuable than convenience.

The post The Dangers of Using Public Wi-fi for Financial Transactions appeared first on Tech | Business | Economy.

The bank disclosed that it achieved this milestone through a successful capital raise via rights issue and private placement, in line with the ongoing banking sector recapitalisation exercise.

Commenting on the achievement, Dr. Emmanuel Efe Emefienim, Managing Director/Chief Executive Officer of Premium Trust Bank, said:

“Exceeding the N200 billion capital requirement is a defining moment in the bank’s journey. This achievement, coming in just three years of the bank’s existence, is a reflection of our superior financial performance since inception, unwavering commitment to operational excellence, and the trust reposed in us by our shareholders, customers, and regulators.

“As Nigeria’s fastest-growing bank, we are uniquely positioned to not only lead the sector but to continue delivering outstanding value and growth for our stakeholders.”

He added that the bank is now better placed to scale its operations, expand market share, and provide innovative banking solutions tailored to the needs of individuals, businesses, and corporates nationwide.

With this feat, Premium Trust Bank joins the ranks of tier-1 lenders such as Access Bank and Zenith Bank that have already met the CBN’s recapitalisation threshold ahead of schedule, positioning it for stronger competitiveness and enhanced capacity to deliver cutting-edge financial solutions across Nigeria.

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Held at the Landmark Event Centre in Lagos on July 19th, 2025, the festival welcomed over 3,000 attendees, highlighting its pivotal role in nurturing the next generation of innovators and importance of STEAM education in shaping Africa’s future.

This year’s festival, themed ‘AI for Good’, showcased how artificial intelligence can be leveraged as a tool for solving real-world challenges and the growing impact of hands-on science and technology education in Nigeria.

The festival featured a wide array of STEM activities, tech career talks and hands-on STEAM labs, including sessions on AI and Machine Learning, Coding, Robotics, Virtual Reality, Engineering, Craft, Drone Technology, Science experiments, amongst other activities. These interactive workshops provided children with an immersive experience, allowing them to explore the wonders of technology and its real-world applications.

Speaking on the impact of the event, Mrs. Jadesola Adedeji, Co-founder of STEM Africa Fest and co-organiser, highlighted the festival’s mission to equip children with practical skills and inspire a passion for innovation.

She remarked:

‘’Each year, STEM Africa Fest reminds us of what is possible when children are given the space to explore, question, and build. This isn’t just about STEM, it’s about unlocking potential and preparing a generation of young Africans to lead boldly in a tech-driven world. We are proud to create an experience that is both joyful and deeply transformative.” 

Also commenting on the success of this year’s festival in Lagos, Titi Adewusi, co-founder of 9ijakids and co-organiser of the event, added:

‘’STEM Africa Fest is more than a one-day event, it’s a gateway to preparing Africa’s next generation of problem-solvers, innovators, and critical thinkers. The skills gap is a shared challenge — and we believe partnerships such as STEM Africa Fest are the way forward to address it.’’

A major highlight of the festival was a captivating live AI demonstration by Malik Afegbua, world-renowned Creative AI Technologist and creator of The Elder Series, who showed children how artificial intelligence can be a powerful tool for creativity and storytelling.

The day also featured hands-on workshops in robotics, coding, virtual reality, drone technology, science experiments, and STEAM-based crafts, giving children a chance to explore technology through real-world applications.

Adding to the excitement was the highly anticipated raffle draw, where three (3) lucky attendees, Olayinka Samuel Favour, who won a tablet and Fisaju Joel Champion, who received a smartwatch all won exciting gifts.

The raffle created a sense of excitement and celebration across the festival grounds and underscored the event’s commitment to accessibility, engagement, and joyful learning.

Organised by 9ijakids and STEM-METS, STEM Africa Fest continues to grow as a movement committed to reimagining education and empowering Africa’s future through STEAM.

Since its inception in 2021, the festival has impacted over 20,000 children, students, parents and educators across Lagos, Abuja, Ghana, Zambia, Rwanda, Gambia, Kenya and Sierra Leonne.

The post STEM Africa Fest Empowers 3000 Children with Hands-on STEAM Learning appeared first on Tech | Business | Economy.

According to Brand Finance, a UK-based brand valuation company, in its latest report titled “Nigeria 25 2025”, the top four strongest Nigerian brands are banks, followed by brands in the cement and food sectors.

UBA, FirstBank, GTCO, and Access Bank were listed as the four strongest Nigerian brands. UBA topped the list, rising from ninth position in 2024 to become the strongest brand in Nigeria in 2025, with a Brand Strength Index (BSI) of 92.4/100, corresponding to a AAA+ rating.

The report revealed strong performance in brand familiarity, preference, and consideration, indicators of surging customer loyalty, as key drivers for UBA’s growth.

UBA’s prioritisation of digital banking, innovation, and investment in banking services was noted as key factors underpinning its brand strengths.

Close behind UBA was First Bank of Nigeria with a BSI score of 92.1/100 and an AAA+ rating. GTCO ranked third with a BSI score of 89.5/100, dropping from its previous position as the strongest Nigerian brand.

Commenting on the brands’ performance, Babatunde Odumeru, managing director of Brand Finance Nigeria, said:

“Nigerian banking brands continue to grow, successfully navigating a challenging economic landscape with strategic agility while maintaining customer loyalty. United Bank for Africa (UBA) and First Bank of Nigeria, in particular, have made significant strides in brand strength, emerging as the strongest Nigerian brands in 2025. UBA’s achievement is especially noteworthy, as it now ranks as the 13th strongest banking brand globally among the top 500.”

Access Bank retains its title as the most valuable Nigerian brand, with its brand value more than doubling to N893.3 billion, the fourth consecutive year it has held this position.

The post Banking: UBA Named Nigeria’s Strongest Brand, Access Bank Most Valuable in 2025 appeared first on Tech | Business | Economy.

It has since restored services across channels, such as the Automated Teller Machines (ATMs), Point of Sales (PoS), USSD and others.

Recall that Access Bank had notified its customers of its system maintenance over the weekend.

The Bank, on Friday, sent emails to the customers, notifying them of potential disruption of service/connectivity to its network channels from Sunday, April 27, 2025 by 12:00am to 6:00am.

According to the notification, Access Bank aims to upgrade its banking system to offer users smarter experience.

However, Techeconomy can report that the Bank sent a similar email notifying the customers of completing the process.

The message reads,

“Dear Customer,

Our system maintenance has been completed and all services fully restored.

Please proceed with your transactions across our channels.

Thank you for choosing Access Bank”.

Access Bank Plc is a Nigerian multinational commercial bank, owned by Access Bank Group. It is licensed by the Central Bank of Nigeria, the national banking regulator. Originally a corporate bank, they expanded into personal and business banking in 2012.

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