Access Bank Surpasses CBN’s Recapitalization Threshold by ₦100 Billion

Access Bank Plc has set a new benchmark in the Nigerian banking sector by becoming the first financial institution to exceed the Central Bank of Nigeria’s (CBN) minimum capital requirement of ₦500 billion for banks with international authorization. Through a successful rights issue, the bank has increased its share capital to ₦600 billion, surpassing the regulatory threshold by ₦100 billion and achieving this milestone well ahead of the March 2026 deadline.

Successful Rights Issue

Access Holdings Plc, the parent company of Access Bank, secured full regulatory approvals from both the CBN and the Securities and Exchange Commission (SEC) for its recently concluded rights issue. The offering comprised 17,772,612,811 ordinary shares at 50 kobo each, priced at ₦19.75 per share, successfully raising ₦351.01 billion. This capital raise has elevated the bank’s share capital to ₦600 billion, positioning it as the first to meet and exceed the CBN’s recapitalization directive.

Innovative Approach

Demonstrating its commitment to innovation, Access Holdings executed the rights issue through a fully digital process, utilizing the Nigerian Exchange’s E-offer platform. This approach provided shareholders with a seamless and efficient subscription experience, reducing barriers and democratizing participation in the equity capital market.

Leadership’s Perspective

Aigboje Aig-Imoukhuede, Chairman of Access Holdings, remarked on the achievement: “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.” He further acknowledged the invaluable support of the CBN and SEC in ensuring the integrity and efficacy of the rights issue exercise.

Implications for the Banking Sector

Access Bank’s proactive capital augmentation not only sets it ahead of regulatory requirements but also enhances its capacity to leverage new opportunities and deliver sustainable value to stakeholders. This strategic move underscores the bank’s commitment to maintaining a robust capital base, ensuring resilience, and fostering growth in Nigeria’s dynamic financial landscape.

As the March 2026 deadline approaches, other Nigerian banks are expected to intensify efforts to meet the CBN’s recapitalization mandate, aiming to strengthen the overall stability and competitiveness of the nation’s banking sector.

Also Read This: Access Bank Sustainable Finance Accelerator Program

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