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By Chukwuma Umeorah
Access Holdings Plc has assured shareholders that dividend payments will resume once regulatory conditions are met, explaining that the suspension of dividend distribution was driven by compliance requirements and not a deterioration in the group’s earnings capacity.
Speaking at the company’s 4th Annual General Meeting (AGM) held in Lagos on Wednesday, Chairman, Aigboje Aig-Imoukhuede said the decision to withhold dividends was necessary to align with regulatory expectations and prudent capital management.
He told shareholders that the board remained committed to restoring dividend payments as soon as the relevant conditions were satisfied. “Our approach is clear: capital retained today must translate into value delivered tomorrow and sustainable returns to our shareholders,” he said.
The clarification came as shareholders sought explanations over the absence of dividend payments despite the group’s strong financial performance in 2025. Access Holdings reported a Profit Before Tax (PAT) of N1.007 trillion for the financial year, while total assets rose to N51.56 trillion. Customer deposits also increased during the period. Aig-Imoukhuede, however, said the results should be viewed against the backdrop of actions taken by the group to strengthen its balance sheet and improve long-term resilience.
According to him, the company accelerated the recognition of legacy exposures and exited regulatory forbearance positions during the year, resulting in higher impairment charges.
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“Periods of volatility often reveal more about an institution than periods of uninterrupted growth. Our focus remains on building a business that is not only growing but improving in the quality and sustainability of its earnings,” he stated.
He said the group’s strategy had shifted from pursuing scale to prioritising value creation, with management focused on improving the quality of earnings and closing the gap between returns and the cost of equity.
Aig-Imoukhuede also disclosed that the group sees significant unrealised value within its international subsidiaries and intends to improve market recognition of those assets. Beyond banking, Access Holdings said it was expanding its activities across pensions, insurance, digital payments and consumer finance as part of efforts to diversify earnings.
The chairman noted that while banking remained the group’s primary source of income, subsidiaries including Access ARM Pensions, Access Insurance Brokers, Oxygen X Finance and Hydrogen Payments were contributing to the group’s broader financial services operations.
The AGM also reviewed governance developments within the group, including the appointment of Innocent C. Ike as Group Managing Director/Chief Executive Officer and the addition of Ibironke Adeyemi to the board as an Independent Non-Executive Director.
Access Holdings said it would continue to focus on financial inclusion, support for small and medium-scale enterprises, and investments in education and other sectors of the economy, while maintaining a cautious approach amid prevailing macroeconomic challenges.
