Historic Milestone: Access Bank Becomes Nigeria's First Bank to Surpass CBN's N500bn Capital Threshold

By Achimi muktar

In a groundbreaking achievement, Access Holdings Plc has shattered records, positioning its banking subsidiary, Access Bank Plc, as the first Nigerian financial institution to exceed the Central Bank of Nigeria’s (CBN) regulatory capital threshold of N500 billion for international banks. This milestone comes ahead of the March 2026 deadline, signaling a new era of dominance for the bank on both local and global stages.

The feat was accomplished through the successful closure of Access Holdings’ N351 billion Rights Issue, which offered 17.77 billion ordinary shares at N19.75 each. The offering was oversubscribed by an impressive 5.76%, raising the bank’s share capital to a staggering N600 billion—N100 billion above the CBN’s requirement. This accomplishment underscores the unwavering confidence shareholders have in Access Bank’s long-term strategy and innovation-driven vision.

The Power of Confidence and Collaboration

Chairman of Access Holdings, Aigboje Aig-Imoukhuede, attributed the success to the enduring appeal of the Access brand and the resilience of Nigeria’s capital market. “The Access brand has always resonated strongly with local and international capital markets,” he remarked. “Since 2004, Access Bank has raised billions of dollars in capital to meet successive CBN recapitalisation directives. We are proud to be the first to breast the tape this time. The Rights Issue’s success demonstrates the unwavering confidence of our shareholders and the innovative strength of our institution.”

Aig-Imoukhuede extended gratitude to key regulatory bodies, including the CBN and the Securities and Exchange Commission (SEC), for their pivotal roles in ensuring the Rights Issue’s integrity. He also lauded the loyalty of shareholders who have supported the Access vision for over two decades.

Revolutionising Capital Raising in Nigeria

In a first for Nigerian financial institutions, Access Holdings leveraged a fully digital subscription process through the Nigerian Exchange’s E-offer platform. This trailblazing move streamlined the Rights Issue exercise, enabling unprecedented accessibility and efficiency for shareholders across the globe. The offering attracted applications for 18.82 billion shares valued at N371.77 billion, outpacing the initial offering and demonstrating strong investor enthusiasm.

Following rigorous regulatory validation, 18.75 billion shares worth N370.41 billion were allotted, further solidifying Access Bank’s status as an industry pioneer.

Positioned for Sustained Leadership

With its fortified capital base, Access Bank is set to deepen its influence within the financial landscape, delivering cutting-edge products and driving sustainable growth. Reflecting on the bank’s trajectory, Aig-Imoukhuede expressed optimism: “As we step into a new year, our enhanced capital base positions us to deliver even greater value to our stakeholders and expand our footprint across emerging markets.”

This historic milestone not only reaffirms Access Bank’s standing as a leader in Nigeria’s financial ecosystem but also sets a precedent for the industry. The institution’s foresight, innovation, and robust strategy continue to redefine what’s possible, propelling it to new heights of excellence.