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By Chukwuma Umeorah
CHAIRMAN, Access Holdings PLC (Access), Aigboje Aig-Imoukhuede has urged shareholders to participate in the ongoing Rights Issue.
Speaking at Access “Facts Behind the Right Issue” presentation on the floor of the Nigerian Exchange Limited (NGX) on Tuesday, Imokhuede highlighted the company’s plans to strengthen ties with shareholders and enhance value creation.
He stated, “We did a Rights Issue alone to signal to the world that that pact between us and our shareholders can never be broken. since 2002 you have stood with us thick and thin and we ask you stand with us again. Please take up your rights.”
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Access Holdings had announced that it was offering 17.7 billion shares at N19.75 per share totalling N349.57 billion. Imokhuede emphasized that the rights issue is seen not merely as a financial maneuver but as a continuation of Access Holdings’ longstanding narrative of transformation and growth. Reflecting on the company’s history, he highlighted a series of promises made and kept over the years, from moving into the top 10 banks within five years of 2002 to becoming one of the top three banks by 2018.
The CEO of Access Bank, Roosevelt Ogbonna, during the Facts presentation outlined the strategic allocation of the funds raised including expanding market presence across Africa, with a particular focus on lucrative regions offering profitable market prospects.
He added that Access bank also plans to enhance its international operations, including establishing new offices in the UK and Hong Kong, with intentions to enter the US market. Technological advancements and infrastructure investments, notably through their fintech arm Hydrogen, are also earmarked for substantial funding.
“Supporting trade and payment platforms across the continent remains a priority,” Ogbonna stated, highlighting collaborations with industry giants like M-Pesa and Mastercard to innovate payment solutions among other initiatives.
