Access Holdings Plc plans to sell down equity in select overseas subsidiaries to meet new Central Bank of Nigeria (CBN) rules capping foreign investments at 10% of shareholders’ funds, CEO Roosevelt Ogbonna said on an investor call.
The lender, with banking operations in 24 countries, currently holds 19.4% in foreign units—exceeding the limit. “We’re looking at divestments” but will retain control and strong value creation, Ogbonna said Tuesday, with a 12-month compliance window.
Pan-African Pullback
Access led Nigeria’s post-2016 recession push abroad, snapping up assets from Standard Chartered Plc, Atlas Mara Ltd., and KCB Group Plc to counter naira weakness and non-performing loans. Last year, it paused acquisitions to integrate holdings.
Strategic Implications
The CBN’s curb forces a recalibration for Africa’s expansionist Nigerian banks. Access’s pivot preserves control while freeing balance-sheet room amid tightening global funding.
The bank is also considering the refinancing of a $500 million Eurobond due in September and a $500 million perpetual bond due in October. Officials noted that the move is intended to extend the maturity profile of the debt rather than address liquidity pressures.
Access Holdings Plc reported full-year 2025 profit growth of 15.6% even as bad-loan impairments more than doubled and total comprehensive income plunged 58%, prompting the group to skip its dividend payout.
Profit after tax climbed to ₦743 billion from ₦642 billion, supported by interest income of ₦3.27 trillion (up 5.4%) and net fee gains of ₦585 billion (up 40.9%). Net gains on fair-value instruments soared to ₦1.049 trillion from ₦416 billion, lifting pretax profit to ₦1.007 trillion.
 Follow the MoneyCentral Nigeria channel on WhatsApp: Click here!
