Access Holdings, one of Nigeria’s largest financial groups, has scheduled an extraordinary general meeting for December 18, 2025, where shareholders will vote on a proposed capital raise of up to 40 billion naira (about 27.6 million dollars) through a private placement.
To execute the transaction, the company plans to issue roughly 1.98 billion new ordinary shares at a proposed price of 20.25 naira each, although the board may adjust the offer price if needed. If approved, the deal would increase Access Holdings’ share capital from about 26.66 billion naira, representing 53.3 billion shares, to 27.65 billion naira, or 55.29 billion shares.
Shareholders will also vote on granting the board full authority to carry out the placement, including selecting investors, negotiating the terms of the offer, setting the timetable and securing all required regulatory approvals, including from the Central Bank of Nigeria (CBN) and the Nigerian Exchange.
The transaction is intended to strengthen the group’s capital base and support its expansion in Africa and globally. It also follows the CBN’s new recapitalization programme, which requires banks to meet significantly higher minimum capital levels by March 2026.
Under the new rules, banks with international licences must raise minimum capital to 500 billion naira. Banks with national licences must reach 200 billion naira, while regional banks must meet a 50 billion naira threshold. Access Bank, the group’s banking subsidiary, has already met the 500 billion naira requirement, making it the first tier-one bank to comply with the new capital standards for international operations.
Sandrine Gaingne
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