Access Holdings has achieved a significant milestone by becoming the first Nigerian bank to successfully complete its recapitalization exercise, raising a total of ₦351 billion. The development marks a bold step in the bank’s strategy to enhance its financial stability, expand its operations, and meet the evolving regulatory requirements of the Central Bank of Nigeria (CBN). The recapitalization strengthens Access Holdings’ position as a leader in the Nigerian banking sector.
The bank’s Group Managing Director, Herbert Wigwe, described the achievement as a testament to Access Holdings’ resilience and commitment to long-term growth. Speaking at a press conference, Wigwe noted that the funds raised will be utilized to improve the bank’s capital adequacy ratio, support innovative product development, and drive regional and global expansion. He also thanked shareholders and investors for their confidence in the bank’s vision.
The ₦351 billion was raised through a combination of equity issuance and other financial instruments, making it one of the largest capital-raising initiatives in Nigeria’s financial history. Analysts have praised Access Holdings for its efficient execution of the recapitalization process, which demonstrates the bank’s robust corporate governance and strategic foresight. This success has further solidified investor confidence in the Nigerian banking sector.
The recapitalization comes at a time when Nigerian banks face increasing competition and regulatory demands. By proactively meeting the CBN’s capital requirements, Access Holdings has positioned itself to maintain its competitive edge while supporting the Nigerian economy. The additional capital will enable the bank to finance large-scale projects, improve credit accessibility for businesses, and drive digital banking innovation.
This groundbreaking achievement reinforces Access Holdings’ reputation as a forward-thinking institution. The successful recapitalization serves as a benchmark for other financial institutions in Nigeria and across Africa, highlighting the importance of proactive planning in a rapidly changing financial landscape. The move not only strengthens the bank’s foundation but also enhances its capacity to deliver value to stakeholders and foster economic growth.
