Kayode Tokede
Access Holdings Plc, yesterday in Lagos, blamed regulatory compliance to Central Bank of Nigeria (CBN) for its inability to pay dividend to shareholders for the 2025 financial year.
Chairman of the group, Mr Aigboje Aig-Imoukhuede, disclosed this while speaking at the 4th Annual General Meeting (AGM) of the company.
He stressed that the Group took a prudent decision to accelerate the recognition of legacy exposures and exit regulatory forbearance positions, resulting in elevated impairment charges.
This, he explained, reflects a clear strategic choice to prioritise balance sheet strength and long-term resilience over short-term earnings optimisation.
The group delivered profit before tax of N1.01 trillion in 2025 from N867.02 billion in 2024, underscoring the strength of its diversified platform and expanding earnings base across key markets. Total assets grew to N51.56 trillion in 2025 from N41.5 trillion in 2024, with customer deposits increasing strongly, reflecting sustained franchise momentum and deepening customer trust.
The group, however, reaffirmed its strategic transition toward long-term value creation, balance sheet resilience, and disciplined growth, even as it navigates a dynamic and evolving operating environment.
He emphasised that the defining test of a financial institution is not merely its capacity for growth, but its ability to grow profitably, sustainably, and with discipline over time.
He noted that Access Holdings’ performance in 2025 reflects a deliberate approach to strengthening the institution’s long-term fundamentals while maintaining strong financial results.
“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.
Aig-Imoukhuede, while speaking to journalists at the Post AGM lauded ongoing economic reforms by the President Bola Tinubu led administration, describing the restoration of macroeconomic stability as a critical foundation for investment, business growth and long-term economic development.
He commended Federal Government for implementing difficult but necessary reforms that restored stability to the economy.
According to him, the relative stability achieved in the foreign exchange market and the moderation in inflation had significantly improved the operating environment for businesses.
He said that predictable economic conditions were essential for investors and businesses to make informed decisions and plan for the future.
He noted that before the reforms, sharp fluctuations in exchange rates and rising inflation created uncertainty that made planning difficult for investors.
The Access Holdings chairman said the improved macroeconomic conditions had strengthened investor confidence and contributed to positive developments in the capital market.
“The fact that we can sit down, plan, speak to local and international investors and have a functioning market is significant. That is also what accounts for the stock market performance we are seeing today.
“This is not a political statement, but if you do not give credit to those who are at the helm of affairs, then I do not know what we want government to deliver. What has been achieved is remarkable.
“The first and most important thing for any investor, domestic or international, is macroeconomic stability. By that, I mean the ability to predict what is going to happen tomorrow.
“The stability that has been attained in the foreign exchange market is remarkable.
“Prior to about 24 months ago, price movements were as high as 20 to 30 per cent quarter-on-quarter, making planning almost impossible,” he said.
Aig-Imoukhuede, however, said insecurity remained a major concern that must be addressed to unlock the country’s full economic potential.
He also urged government to deepen reforms by creating a more enabling environment for entrepreneurs and productive businesses.
“What I want government to focus on is making life easier for those engaged in productive activities, not just the large businesses but also the small ones,” he said.
The chairman emphasised the need for stronger public institutions and improved service delivery, adding that greater efficiency in the public sector would accelerate economic growth.
According to him, the next phase of reforms should focus on supporting productivity, encouraging enterprise and creating conditions that enable businesses to thrive.
“If the next step is taken, Nigerians and indeed the world will remember it for a very long time,” he said.
On Looking ahead, he stated, “The Strategy, From Scale to Value, reflects the natural evolution of our journey. Scale created opportunity, value creation is how we fully realise it.”
The Chairman noted that while the Group continues to generate strong returns, closing the gap between returns and cost of equity remains central to unlocking shareholder value. He also acknowledged the existence of significant unrealised value within the Group’s international subsidiaries, with a clear emphasis on improving market recognition of this intrinsic value.
The Board addressed shareholder concerns regarding dividend payments, clarifying that the non-payment of dividend was driven by regulatory alignment and compliance considerations within the banking subsidiary.
Aig-Imoukhuede reaffirmed that this position does not reflect diminished earnings capacity but rather aligns with supervisory expectations and prudent capital management. He assured shareholders of the Board’s commitment to resuming dividend payment as soon as regulatory conditions are satisfied.
“Our approach is clear: capital retained today must translate into value delivered tomorrow and sustainable returns to our shareholders,” he said.
Access Holdings also highlighted continued progress in strengthening governance and leadership continuity. During the year, Innocent C. Ike was appointed Group Managing Director/Chief Executive Officer, while the Board was reinforced with the appointment of Ibironke Adeyemi, an Independent Non-Executive Director.
The Chairman noted that leadership transitions were executed with stability and alignment, ensuring continuity of strategy, operational resilience, and stakeholder confidence.
The Group reiterated its commitment to sustainability as an integral part of its strategy, advancing financial inclusion, supporting SMEs, and investing in education, the arts, and the creative economy as drivers of long-term economic and societal value.
Despite continuing macroeconomic uncertainties, Access Holdings expressed confidence in its strategic positioning, underpinned by disciplined execution, a diversified business model, and a strengthened capital base.
Aig-Imoukhuede concluded by reaffirming the Group’s long-term commitment: “Our responsibility is to justify the confidence of our shareholders by building an institution that endures, one defined by clarity of purpose, discipline of execution, and sustainable value creation over time.”