Access Holdings Plc, the parent company of Access Bank, has announced plans to raise about N40bn through a private placement as part of its ongoing capital-raising programme. The move is aimed at further strengthening the group’s balance sheet as banks continue to adjust to the Central Bank of Nigeria’s new minimum capital requirements.
The plan was disclosed in a corporate filing submitted to the Nigerian Exchange Limited on Thursday. According to the notice, Access Holdings will hold a virtual Extraordinary General Meeting (EGM) to seek formal approval from its shareholders for the fresh capital injection.
Access Holdings has been one of the most active institutions in the current banking recapitalisation cycle. In December 2024, the group announced that it had already raised about N351.01bn, a development that enabled its flagship subsidiary, Access Bank Plc, to become the first bank to meet the CBN’s N500bn minimum capital requirement for banks operating with international authorisation. This compliance came well ahead of the March 2026 deadline issued by the apex bank.
In the latest filing, Access Holdings stated that the additional funds will be raised in accordance with the provisions of the Companies and Allied Matters Act, 2020, the Investments and Securities Act, 2025, and the Rulebook of the Nigerian Exchange Limited. It also cited relevant regulations and directives of the Central Bank of Nigeria, given its classification as a licensed financial holding company.
The filing explained that the company sought authorisation “to raise additional capital of up to N40,000,000,000 or such other amount or its equivalent in foreign currencies as may be determined by the Board of Directors, through a private placement.”
As part of the capital raise, Access Holdings is also proposing an increase in its issued share capital. The company’s current share capital stands at N26.658bn, divided into 53.317bn ordinary shares of 50 kobo each. The new plan seeks to increase this to N27.646bn, divided into 55.293bn ordinary shares, also at 50 kobo each. This will be achieved through the creation of 1.975bn new ordinary shares, which will rank equally with all existing shares.
The board will also be empowered to cancel any unallotted shares or further increase the company’s share capital, if necessary, to accommodate future equity transactions that may arise from ongoing or upcoming capital-raising activities.
Access Holdings further disclosed that it intends to allot the newly created shares to one or more investors at N20.25 per share, or at a price the board considers appropriate based on market conditions. The proposed offer price is slightly lower than the N21.00 at which the company’s shares closed on the Nigerian Exchange on Thursday.
Capital market analysts say the price discount is common in private placements, as companies often provide incentives for institutional investors willing to commit large funds. They added that Access Holdings’ ongoing capital expansion puts it in a strong position to sustain growth, strengthen liquidity buffers, support lending, and maintain competitiveness within the banking sector, especially as the recapitalisation window progresses.
The CBN’s recapitalisation policy, announced earlier in 2024, requires banks to significantly boost their capital base to strengthen the financial system, improve lending capacity, support economic growth, and reduce systemic risks. Under the new framework, banks with international authorisation must raise their minimum capital to N500bn, while those with national and regional licences are required to meet lower thresholds.
As one of Nigeria’s largest banking groups, Access Holdings has been expanding aggressively across markets, including the United Kingdom, South Africa, Kenya, and several West and Central African countries. The group is also investing in digital banking, payments infrastructure, and customer-focused innovations, which require substantial capital support.
With the proposed N40bn private placement, Access Holdings is positioned to remain ahead of regulatory deadlines while strengthening investor confidence and creating room for future expansion. The upcoming EGM will give shareholders an opportunity to vote on the resolutions and further guide the company’s long-term growth strategy.
