December 21, (THEWILL) — Access Holdings Plc has secured shareholder approval to raise up to N40 billion in fresh equity capital through a private placement.
The lender disclosed this in a corporate filing with the Nigerian Exchange (NGX) on Thursday, December 18, 2025.
The filing, signed by the company secretary and a director, disclosed that the approval was granted at the company’s Extraordinary General Meeting (EGM) conducted virtually and hosted from the company’s head office in Lagos.
Shareholders approved a series of special resolutions authorising the Board of Directors to undertake the capital raise in compliance with the Companies and Allied Matters Act 2020, the Investments and Securities Act 2025, the Nigerian Exchange Limited Rulebook, and applicable Central Bank of Nigeria regulations governing financial holding companies.
As part of the approved resolutions, shareholders authorised an increase in the company’s issued share capital from ₦26.66 billion, divided into 53.32 billion ordinary shares of 50 kobo each, to ₦27.65 billion, divided into 55.29 billion ordinary shares of 50 kobo each.
The increase will be achieved through the creation of 1.98 billion new ordinary shares, which will rank pari passu with existing shares.
The Board has been empowered to allot the newly created shares at a price of ₦20.25 per share, or at such other price as may be determined, to one or more investors under the private placement arrangement.
Shareholders further authorised the Board to engage professional advisers, negotiate and execute all required documentation, and obtain regulatory approvals from the CBN, Securities and Exchange Commission, and Nigerian Exchange Limited to give effect to the transaction.
The Company Secretary was also mandated to effect the required filings at the Corporate Affairs Commission, including amendments to the company’s Memorandum and Articles of Association.
The resolutions also ratified all actions already taken by the Board in connection with the proposed capital raise.
Access Holdings Plc said the private placement forms part of its broader capital management strategy as the group continues to strengthen its balance sheet and support its growth objectives across its banking and non-banking subsidiaries.
The move comes at a time when Nigerian financial groups are under increasing pressure to shore up capital buffers amid currency volatility, evolving regulatory thresholds, and rising funding needs across banking, payments, and other non-bank subsidiaries.
By opting for a private placement rather than a broad public offer, Access Holdings appears to be targeting strategic or institutional investors who can provide both capital and long-term stability to its shareholder base.
Shareholders also ratified all steps already taken by the board in connection with the proposed transaction, clearing the final procedural hurdle for the company to proceed with the capital raise.
With the mandate now secured, market attention will shift to the identity of prospective investors, the final amount raised, and how quickly Access Holdings can translate the new capital into balance-sheet resilience and earnings growth.
Access Holdings Plc kicked off the year with a major rights issue. It raised N351 billion by issuing millions of new shares and increased its share capitalisation to N600 billion.
This new capital raising of another N40 billion will see the share capital jump by almost 2 billion after the approved private placement offer.
The Group aims to strengthen its balance sheet to support growth after acquiring several entities in Nigeria and abroad. However, the capital raises have implications of dilution and possible share reconstruction as the bank already has 53.3 billion shares outstanding, the highest in the sector
