Access Bank raises ₦351 billion in rights issue, becomes first bank to reach CBN's ₦500 billion minimum capital requirement

Access Holdings Plc has announced the successful completion of its Rights Issue, raising a total of ₦351,009,103,017.25 from the issuance of 17,772,612,811 Ordinary Shares at a subscription price of ₦19.75 Kobo per share. The company has obtained the necessary regulatory approvals from the Central Bank of Nigeria and the Securities and Exchange Commission for the Rights Issue.

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This transaction positions the Access Holdings' flagship subsidiary, Access Bank Plc (‘the Bank’) as the first bank to meet the Central Bank of Nigeria’s ₦500 billion minimum capital requirements for Banks with International Authorisation well ahead of the March 2026 regulatory deadline. 

With the success, the Bank’s share capital will increase to ₦600 billion, ₦100 billion above the regulatory minimum requirement.

Lead Issuing House: Chapel Hill Denham Advisory Limited

Solicitors to the issue: ALN Nigeria | Aluko & Oyebode, TEMPLARS , Banwo & Ighodalo Wigwe & Partners, and Paul Usoro & Co 

Joint Issuing Houses: Coronation Merchant Bank, CardinalStone Partners Limited

FCMB Group Capital Markets Limited

Meristem Nigeria Capital Limited

Stanbic IBTC IBTC Capital Limited , First Ally , Greenwich Merchant Bank , Vetiva Capital Management Limited , Renaissance Capital Africa 

Auditors: KPMG Nigeria