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Access Bank Targets Top 20 Position in UK, $1bn Profit by 2027

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By Gloria Ikibah 
 
Access Bank, sub-Saharan Africa’s largest bank by customer base, has shared insights about ambitious plans to position its UK subsidiary, Access Bank UK, among the top 20 banks in the United Kingdom, targeting an annual profit of $1 billion by 2027. 
 
Managing Director/Chief Executive Officer of Access Bank, Roosevelt Ogbonna, disclosed this during the “Facts Behind the Rights Issue” presentation held at the Nigerian Exchange (NGX) office in Lagos.
 
Ogbonna emphasised that this projection underscores Access Bank’s commitment to becoming a global banking leader, focusing on expansive growth and robust financial performance.
 
“We are positioning ourselves to be one of the most respected banks globally. Our focus is on superior service across all the continents and countries we are operational in, and by 2027, we aim to be one of the top five African banks, powering trade across the continent and providing superior services to our customers,” Ogbonna stated.
 
The CEO further highlighted that Access Bank’s customer base is expected to grow to 125 million by 2027, further cementing its market leadership. This ambitious growth plan is part of the broader strategy to drive organic growth through strategic acquisitions, partnerships with international banks, and substantial investments in infrastructure and technology.
 
The insights were shared as part of discussions around Access Holdings’ ongoing Rights Issue, which aims to raise up to US$1.5 billion to strengthen its financial position and support its growth ambitions. The rights issue offers 17,772,612,811 ordinary shares at N19.75 per share and will close on August 14, 2024.
 
The Fact Behind the Rights Issue was attended by the stockbrokers, shareholders, NGX management, Access Holdings’ executive and management, the media, amongst others. The shareholders gave their vote of confidence in Access Holdings and Access Bank, and  particularly, the Rights Issue.   
 
National Coordinator, Pragmatic Shareholders Association of Nigeria, Bisi Bakare noted, “Since Access Bank first started trading on the stock exchange at N0.65, we shareholders have witnessed its incredible growth and accrued immense value, with the stock now trading at N19.35 as of June 9.
 
“Access Holdings can be confident that as the consolidation phase of the Group’s expansion fully takes shape and the brand’s profitability continues to increase, those of us who have been on this journey from the beginning are not about to jump off now. We fully back the capitalisation plans, starting with the Rights Issue, and are excited for the future that lies ahead for Access Holdings”.
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Benue state govt offers free beer to residents for New Year’s eve celebrations

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By Kayode Sanni-Arewa

As part of the ongoing Benue Carnival festivities, the Benue State Government has announced the distribution of free Zeva Draft Beer to residents in celebration of New Year’s Eve.

The Executive Governor of Benue State, Rev. Fr. (Dr.) Hyacinth Iormem Alia approved the gesture. The event will kick off at 5 PM on December 31, 2024, at IBB Square, Makurdi.

Dr Raymond Asemakaha, Managing Director of the Benue Investment and Property Company Limited (BIPC), revealed this in a statement on Tuesday. He described the initiative as an opportunity for citizens to come together and celebrate Benue’s rich heritage and unity.

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“This is a unique opportunity to enjoy the flavours of Benue while engaging with family and friends. You are to drink responsibly,” the statement read.

The carnival, which had been dormant since the administration of former Governor Gabriel Suswam, has been revived by the current government to promote cultural pride and engage the youth positively.

The festivities have already featured colourful displays, with socio-cultural groups parading through Makurdi in vibrant costumes on Monday

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Minority Caucus Congratulates Nigerians on New Year, Calls for Urgent National Reforms

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By Gloria Ikibah

As Nigerians join the global community in celebrating the New Year 2025, the Minority Caucus of the House of Representatives has extended heartfelt congratulations to all Nigerians, both at home and abroad, for witnessing the dawn of the year in peace and tranquility.

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In a statement jointly signed by House Minority Leader Rep. Kingsley Chinda, Minority Whip Rep. Dr. Ali Isa J.C, Deputy Minority Leader Rep. Aliyu Madaki, and Deputy Minority Whip Rep. George Ozodinobi, the caucus reflected on the challenges of 2024, describing the year as “palpable, worrisome, and fearful,” and highlighted its impact on citizens’ personal growth.

The statement reads: “Today, being the first day of Year 2025, whilst, like other parts of the world, we are full of excitement, it gives us another opportunity to have sincere reflections and objective introspection about the journey of our dear country thus far. Fact is, Nigeria’s progress has been marked by significant challenges that hinder our individual growth and collective prosperity.

“True, the situation of our country, particularly in 2024, was palpable, worrisome, and fearful that it stifled the personal development of many citizens. From spiraling inflation to corrosive poverty and debilitating hunger, it was pathetic for citizens. How about accentuating unemployment, alarming insecurity, and other disturbing multi-sectoral indices of under-development?

“As the country enters 2025, it is necessary to reiterate that just as Nigeria has issues of governance and lack of inclusive economic growth, there is an urgent and timely need to ingeniously address challenges of infrastructure deficits, mindless corruption, youth unemployment, and widespread insecurity.”

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The caucus urged all Nigerians to leverage the nation’s diversity as a strength and work collectively towards fostering peace, unity, and development.

“No doubt, Nigeria is a blessed nation with enormous potentials, and our diversity remains one of our greatest assets. In 2025, we admonish us all to harness the strengths embedded in our differences to build a nation that works for all citizens. Since no tribe, ethnicity, and group, no matter how powerful, can do it alone, we solicit for the collaboration and synergy of all and sundry. Through these, and other imperatives including believability, inclusivity, and mutual trust, Nigeria can overcome every difficulty and achieve sustainable and enduring achievements.

“As we collectively forge ahead as a nation in 2025, we encourage us all to recommit and reconnect to the values of peace, unity, and development, with the realization that the future of Nigeria rests on our ability to stay united and work together towards the fulfillment of common goals, desires, and aspirations.”

The caucus reaffirmed its dedication to the well-being of Nigerians, pledging to remain steadfast in addressing national issues through legislative action.

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“As a responsive and responsible Caucus, we assure Nigerians that, further to our commitment to the general well-being of citizens, we will in 2025, and subsequent years in the lifespan of the 10th House of Representatives, remain resolute and focused in every national issue that requires legislative inquisition and actions.”

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Just in: Tanker fire guts popular Lagos police station

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Tanker fire has razed a section of Okokomaiko Police Station, Lagos State Police Command.

The tanker reportedly caught fire while discharging diesel into the storage tank of a hotel that shares same fence with the police facility, reports Daily Trust.

The incident created a stampede as both the staff of the hotel and policemen attached to the station fled from their offices for fear of being trapped in the fire.

It was learnt that the fire started from the engine of the truck and quickly spread to the storage tank of the vehicle.

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Witnesses alleged that the fire spread to the police station before any help could come.

One witness identified simply as Tolupe stated that the truck driver abandoned the vehicle when the fire escalated and fled.

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