AccessCorp share price appreciates by 0.43%

•As Agbede becomes acting GCEO

By Chinwendu Obienyi

Despite a bearish outing from Nigeria’s equities market on Tuesday, the share price of Access Corporation rose by 0.43 per cent to close the trading session at N23.30 per share.

Coming off a bearish week where Access Holdings posted a 2.25 per cent decline, the stock’s share price fell by 6.26 per cent to close at N23.20, from last Friday’s figure of N24.75.

The development was attributed to investors concerns about the direction of the company due to passing away of it’s former Group Chief Executive Officer,  Herbert Wigwe, in a chopper crash.

However, the group has appointed Bolaji Agbede as the acting GCEO.

A statement from the bank read, “Further to its announcement dated February 11, 2024, the Board of Directors of Access Holdings Plc (‘the Company’) has today announced the appointment of Ms. Bolaji Agbede as the Acting Group Chief Executive Officer of the company following the unfortunate demise of its former Group Chief Executive Officer, Dr. Herbert Wigwe, on February 9, 2024.

The appointment is subject to the approval of the Central Bank of Nigeria”

Following the news, investors’ sentiment towards the stock changed and this was evident in the bank share price which grew by 0.43 per cent.

However, the volume of the bank stock stood at 6.06 million units valued at N140.66 million as against 24.90 million units and N575 million recorded in the previous trading session.

Meanwhile, investors lost a total of N184 billion as profit taking ensued in PZ, Zenith Bank, GTCO and UBA.

Specifically, the All Share Index (ASI) fell by 0.33 per cent to close at 101,707.70 points from N101,858.37 points while market capitalisation fell to N55.652 trillion from N55.836 trillion.

Accordingly, the market’s year-to-date (YTD) return fell to 36.20 per cent.