…as Aig-Imoukhuede commends CBN’s macroeconomic policies
Access Holdings PLC has commenced a dividend payout of N125.29 billion to shareholders for the 2024 financial year, following a robust financial performance and aggressive growth strategy that saw the group expand across multiple markets and sectors.
The announcement was made at the company’s Annual General Meeting (AGM) held in Lagos on Thursday. Shareholders approved a final dividend of N2.05 per share, which, combined with the interim dividend of N0.45 already paid, brings the total dividend for the year to N2.50 per share.
Speaking at the AGM, Aigboje Aig-Imoukhuede, Chairman of Access Holdings, described the dividend as a testament to the institution’s earning capacity and long-standing commitment to delivering value to shareholders.
“For the record, Access Holdings paid a total dividend of N125 billion for the 2024 financial year,” Aig-Imoukhuede said. “When I assess the dividend performance of institutions, the figure I look at first is the total dividend paid. On that score, we have consistently delivered”, he said.
The Chairman also used the opportunity to commend the Central Bank of Nigeria (CBN) for what he described as outstanding work in achieving macroeconomic stability. He credited the peace of mind in Nigeria’s financial system to the regulator’s sound monetary policy.
“One of the reasons I smile is the peace of mind we now enjoy, thanks in large part to the excellent work the Central Bank has done in managing monetary policy. The resulting macroeconomic and price stability is not something we should take for granted.
Read also: Access Holdings to pay N2.05 final dividend as pre-tax profit rises to N867bn
“I want to publicly commend the leadership of the Central Bank and its team. To the CBN representatives here, please carry this message back: we, the operators in the financial sector, are proud of the progress that has been made”, he said.
Highlighting the group’s impressive earnings, Aig-Imoukhuede noted that Access Holdings recorded nearly N5 trillion in gross earnings in 2024, a figure, he said, was significant both locally and regionally. He also pointed to the bank’s landmark capital raising as a pivotal achievement in the financial year.
“Through our rights issue, we successfully raised N351 billion, making Access Bank the first Nigerian bank to meet the Central Bank’s new minimum capital requirement of N500 billion, well ahead of the 2026 deadline. This initiative has boosted our shareholders’ funds to N3.76 trillion,” he said.
Shareholders at the AGM were effusive in their praise of the Board and Management team for the Group’s achievements over the past year, especially its early compliance with CBN’s recapitalisation directive and continued expansion into new markets.
Farouk Umar, President of the Association for the Advancement of the Rights of Nigerian Shareholders, commended the Group’s international strategy. “We are pleased with the expansion drive and how the subsidiaries are adding real value to the group,” he added.
Boniface Okezie, National Coordinator of the Pragmatic Shareholders Association (PSAN), said the Board deserves accolades for being the first financial institution to meet the recapitalisation target. “This shows foresight and strategic planning, and it’s good for investor confidence.”
Also speaking, Muktar Muktar, Chairman of the Trusted Shareholders Association of Nigeria, said the financial results were the result of hard work and deliberate planning. “It takes optimisation, risk assessment, and strong mitigation strategies to weather the economic storm and Access Holdings has done just that,” he said.
He recalled that years ago, Access talked about a N1 trillion balance sheet target, yet today, it stands at N4 trillion.
In her remarks, Bolaji Agbede, acting Group CEO of Access Holdings, said the Group continues to maintain a strong, diversified financial position with growth across all key balance sheet indicators.
“Despite a challenging operating environment and a tight monetary policy stance, Access Bank Group, operating across 22 markets on four continents and serving over 60 million customers, delivered strong year-on-year growth across all performance metrics,” Agbede said.
She revealed that non-banking subsidiaries, particularly those in investment management and technology also played a pivotal role in driving profitability.
“Subsidiaries of the Bank Group delivered strong double-digit growth, contributing 51 percent to the segment’s Profit Before Tax (PBT). Year-on-Year PBT and PAT from subsidiaries grew by 131.1% and 151.7% respectively, rising to N460.6 billion and N307.0 billion in 2024,” she added.
Agbede affirmed that Access Holdings remains well-positioned to capture growth opportunities in the evolving global financial landscape.
“With a strong balance sheet, cutting-edge technology, and a high-performing team, we are committed to prudent investment, effective risk management, and sustained stakeholder value delivery,” she assured shareholders.
