Access Holdings Plc, one of Africa’s leading financial institutions, has unveiled a bold 24-month strategic expansion plan anchored on “geological consolidation,” even as shareholders approved a total dividend payout of N125.3 billion for the financial year ended December 31, 2024.
The announcements were made during the company’s Annual General Meeting (AGM) held at Harbour Point, Victoria Island, Lagos, where shareholders lauded the board and management for Access Holdings’ strong performance, resilience, and aggressive growth strategy.
Group Chairman, Aigboje Aig-Imoukhuede, reflected on the group’s journey, highlighting that the next phase of growth is built on nine key focus areas informed by macroeconomic and industry trends.
“Our strategic expansion, which we term geological consolidation, is designed to unfold over the next 24 months. It’s a calculated move to entrench our presence and elevate our capacity in high-potential markets,” Aig-Imoukhuede stated.
In a moment of national reflection, the chairman expressed gratitude to the Central Bank of Nigeria (CBN), particularly Governor Olayemi Cardoso, for the “exceptional workmanship” driving economic reform and sector-wide improvement.
“The Governor’s purpose-driven leadership has made it easier to operate within the banking industry. We are grateful for the stability and forward-thinking policies coming out of the CBN,” he noted.
Aig-Imoukhuede also underscored the company’s commitment to long-term relevance: “We’re building a legacy institution—one that will endure not just for this generation, but for tens of generations.”
On performance, the chairman said Access Holdings raised N351 billion in 2024 through a landmark rights issue, becoming the first Nigerian bank to meet the CBN’s new minimum capital requirement of N500 billion, well ahead of the 2026 deadline.
“This capital raise significantly strengthened our balance sheet, raising shareholders’ funds to N3.76 trillion,” he said.
Financial highlights for 2024 showed gross earnings surged 88% year-on-year to N4.88 trillion from N2.59 trillion in 2023. Profit before tax also rose from N729 billion to N867 billion.
Acting Group Chief Executive Officer, Bolaji Agbede, echoed the chairman’s optimism, affirming that Access Holdings is well-positioned for growth across its operations in 22 markets on four continents, including its non-banking subsidiaries in investment management and technology.
“We’re building inclusive future value that connects with people and adapts to an evolving global environment shaped by geopolitical tensions, inflationary pressures, and changing monetary policies,” Agbede said.
She added that the group remains committed to prudent investments, effective risk management, and deeper stakeholder engagement to drive sustainable value creation.
Access Holdings’ total assets grew by 177% over the last three years, while total deposits increased by 185%. Total dividend per share stood at N2.50, with a final dividend of N2.05 per share approved at the AGM.
The meeting not only celebrated impressive financial milestones but also reaffirmed the group’s vision of building a diversified financial powerhouse rooted in innovation, legacy, and strategic foresight.
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