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Access Holdings Tops PBSI Ranking For Tier-1 Banks Report 2024

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By Gloria Ikibah 
 
 
Access Holdings PLC has been named the leading Tier-1 Bank in the 2024 Proshare Bank Strength Index (PBSI) report, and this is in recognition of its outstanding performance.
 
Naijablitznews.com reports that the PBSI, which evaluates banks based on a comprehensive set of financial metrics derived from audited financial statements for the Financial Year 2023, underscored Access Holdings’ significant strides in the banking sector.
 
According to Proshare’s latest report Access Holdings is top, alongside other prominent institutions such as Zenith Bank, FBNH, Ecobank, UBA, and GTCO. 
 
As the Nigerian banking sector evolves, Access Holdings stands out for its proactive approach to addressing macro and microeconomic risks. 
 
The report draws parallels to the challenges faced by United States banks, such as Silicon Valley, First Republic, and Signature Banks, in 2023 due to poor asset and liability management (ALM).
 
With the Central Bank of Nigeria’s ongoing banking sector recapitalisation programme, the report highlights the importance of investment in financial technology, customer service scalability, and digital asset engineering between 2024 and 2026.
 
Analysts emphasise that, “With higher capital levels, banks must use the larger amounts of cash available to improve shareholder returns and customer service experiences. Many banks will get cut at the knees by lacking a deliberate strategy to transition from cash flow to value creation.”
 
The report further highlighted Nigeria’s economic trajectory, noting, “Nigeria’s GDP in 2005 was N38.78trillion and rose to 77.94trillion, roughly two times in 2023, suggesting an average annual growth rate of 3.55 per cent in the last two decades. However, between 2000 and 2005, bank equity sizes grew over ten times or by 1,150 per cent from N2billion to N25billion. In other words, for a decade and a half, banks have used ten times more equity in their businesses than before 2005, yet the country’s GDP growth has been modest.”
 
The report, however, clarifies that simply raising Nigerian banks’ equity base is not a guarantee for economic growth and development. 
 
“Transforming bank equity into drivers of economic growth requires more than money; it requires a coordinated public and private sector plan, with what Proshare analysts have repeatedly called a whole-of-government approach to policies, programmes, and processes”, it stated.
 
Reviewing bank performances in 2023, Proshare analysts observed that banks were pursuing increasingly aggressive approaches to acquiring digital market share while supporting lower operating costs (lower cost-to-income ratios (CIRs)). 
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Immigration raises alarm over high number of irregular migration in Nigeria

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The Edo State Controller of the Nigeria Immigration Service, Martins Moye, has raised the alarm over the increasing number of irregular migrants entering Nigeria.

Moye raised the alarm at the 2024 Nigeria Immigration Service, NIS, enlightenment campaign against irregular migration in Benin, Edo State capital.

He underscored the need for public awareness to curb irregular migration.

A facilitator from NIS headquarters in Abuja, David Amanahu, highlighted Edo State’s historical role in irregular migration.

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According to him, due to recent efforts by the Edo State Command, the state has improved in the national ranking on irregular migration.

“The positive news is that Edo State is no longer ranked number one in irregular migration.

“Credit goes to the dedicated team in Edo who worked tirelessly to improve the situation,” Amanahu stated.

Amanahu, while delivering a message from the Controller-General of Immigration, Kemi Nandap, noted that the NIS is now more focused than ever on border management and migration issues.

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Boundary disputes responsible for insecurity in coastal states – Oborevwori

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Delta State Governor, Sheriff Oborevwori of Delta has said that boundary disputes were also responsible for the rising spate of insecurity, deaths, violence and retarded progress in the country.

The governor stated this while addressing an audience at a one-day workshop for the creation of a platform for Nigeria’s coastal states and local government areas, held at the Government House, Asaba.

The workshop has the theme, “Towards a Secure, Peaceful and Prosperous Borders,” the News Agency of Nigeria reports.

There are many crises in the country over border issues, with Delta State having its fair share.

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The boundary crisis between the Okuama community in the Ughelli South Local Government Area and the Okoloba community in the Bomadi Local Government Area, which had claimed many lives, is being resolved by the government.

Speaking at the workshop, the governor said so many lives had been lost to boundary disputes as he called on the National Boundary Commission and other stakeholders to work assiduously in resolving such disputes in the country.

He described the theme as apt, adding that boundary dispute was an ancient and modern disease of humanity.

He said right from the colonial days, Nigeria had been plagued by boundary disputes, which had disastrous and destabilising consequences for the people.

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“There is scarcely any state in Nigeria that has not been involved in a boundary dispute with its neighbours, which often results in displacement, death, and destruction.

“Reports indicate that between January 2018 and August 2022; 676 people were killed in various communal and boundary clashes in Nigeria.

“The causes of these disputes are traceable to land ownership, community pride, ancient or colonial boundaries, and socio-cultural factors.

“In Delta State, it is safe to say that at least 80 per cent of boundary disputes revolve around land use, either for farming, mining, and other purposes of economic significance.

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“The resultant clashes often leave in their trail a chunk of internally displaced persons with the implication this has for their safety and wellbeing.

“As we all know, the living conditions in IDP camps are unsanitary and inevitably constitute environmental hazards,” he said.

Oborevwori charged the National Boundary Commission to work harder in resolving boundary disputes across the country.

“As the body responsible for resolving boundary disputes in Nigeria, the National Boundary Commission is critical to the peace, security, and prosperity of our communities.

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“It is incumbent on it to embark on enlightenment and sensitisation programmes to educate the people on the importance of respecting boundaries.

“It must also properly investigate cases of boundary disputes. In discharging this vital responsibility, officials of the Commission must demonstrate the highest levels of objectivity, neutrality, and integrity to instil confidence and elicit the goodwill of the people.

“Conversations break down fast once there is a perception of favouritism or nepotism on the part of those who are supposed to be impartial arbiters,” he said.

He added, “It goes without saying that an effective conflict resolution mechanism is critical for maintaining national security.

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“Hence, there is a need for strong political will on the part of the government to implement recommendations that will resolve disputes amicably, and prevent future border disputes.

“With enhanced peace and security at the core of our MORE agenda, we are committed to partnering with the Commission to discharge its functions effectively for a secure, peaceful, and prosperous Nigeria.”

In his welcome remarks, the Deputy Governor, Monday Onyeme, expressed delight that the African Union Border Governance Strategy would look into good border governance and the attainment of sustainable development.

Onyeme, who doubles as the Chairman of the State Boundary Commission, urged the African Union to sustain the tempo to ensure the harmonisation of all grey areas along the boundary communities.

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He observed that the European colonisers arbitrarily, without due regard to the ethnic homogeneity of many African groups, forced Africans to belong to different nations, while diverse heterogeneous communities were hurriedly bundled into a single nation with distinct boundaries.

On their part, the deputy governors of Bayelsa and Rivers states, Lawrence Egwhrudjakpor and Prof Ngozi Odu, respectively, called on relevant authorities to discuss boundary issues often, to enthrone peace in the country.

Earlier, the Director-General of the National Boundaries Commission, Mr Adamu Adaji, said the workshop was primarily designed to engage Nigeria’s coastal states, local government areas and traditional rulers on effective border governance in Nigeria.

The NAN reports that stakeholders, including some traditional rulers from the South-West and South-South states, attended the event.

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Obaseki embarks on post-tenure medical vacation

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The immediate-past governor of Edo State, Godwin Obaseki, has proceeded on vacation.

This is for him to rest and undergo a medical check-up, after a successful two-term as governor of the state.

This was disclosed in a statement by his media adviser, Crusoe Osagie, on Wednesday.

The former governor completed his two-term administration on November 11, 2024, and a new governor, Monday Okpebholo, was sworn in on Tuesday, November 12, 2024.

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Osagie said, “Following the completion of his second term, a former Governor of Edo State, Godwin Obaseki, has proceeded on vacation to rest and undergo a medical check-up.

“Obaseki, once again, expressed his appreciation to God Almighty, the people of Edo State and Nigeria for the opportunity to serve.

“He urged all Edo people both at home and in the diaspora to continue to be hopeful and pray for the peace, progress and prosperity of our state and Nigeria.”

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