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Access Bank Becomes First to Meet CBN’s Minimum Capital Requirement with N351bn Rights Issue

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By Gloria Ikibah

Access Holdings Plc has announced the successful completion of its Rights Issue, raising N351,009,103,017.25 through the issuance of 17,772,612,811 ordinary shares at N19.75 per share.

This achievement follows full regulatory approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC).

With this milestone, Access Bank Plc, the flagship subsidiary of Access Holdings, is the first bank to meet the CBN’s N500 billion minimum capital requirement for banks with international authorisation, well ahead of the March 2026 deadline. The bank’s share capital now stands at N600 billion, exceeding the regulatory threshold by N100 billion.

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This marks a significant achievement as Access Holdings is the first CBN-licensed financial holding company to execute a fully digital Rights Issue. The process utilised the Nigerian Exchange Group’s E-offer platform to provide shareholders with a seamless and efficient subscription experience, enhancing accessibility and participation.

Speaker on the development, the Holding Company’s Chairman, Aigboje Aig-Imoukhuede, highlighted the innovation and leadership demonstrated by the institution. Further details from the statement emphasize the bank’s commitment to leveraging technology to drive growth and improve shareholder value.

He said: “The Access brand has always resonated strongly with local and international capital markets. Since 2004, Access Bank has raised billions of dollars in capital to meet successive CBN recapitaliation directives. We are pleased that this time, we are the first to cross the finish line.
“The success of the Rights Issue demonstrates the resilience of Nigeria’s capital market and reinforces our shareholders’ confidence in the present value and potential of our company.
“We deeply acknowledge the invaluable and strong support of the Central Bank of Nigeria and the Securities and Exchange Commission, who both played crucial roles in ensuring the integrity and efficacy of our Rights Issue exercise.
“We are also grateful to our valued shareholders, whose loyalty to the Access brand and vision for over 22 years has been most inspiring and unwavering. As we enter the new year, we are well-positioned to leverage our enhanced capital base to deliver sustainable value for our stakeholders.”
Access Holdings Plc operates through a network of more than 700 branches and service outlets, spanning three continents, 23 countries, and over 60 million customers.
The company serves its markets through four subsidiaries in banking, payment, pension administration, and insurance sectors: Access Bank Plc, Hydrogen Payment Services Company Limited, Access Pensions Limited, and Access Insurance Brokers Limited.
Access Bank Plc serves its markets through three business segments—Corporate and Investment, Commercial, and Retail—and has enjoyed Africa’s most successful banking growth trajectory in the last 22 years.
Following its merger with Diamond Bank in March 2019, Access Bank Plc became one of Africa’s largest retail banks by customer base and Nigeria’s largest bank by total assets.

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Speaker Abbas Commends Perfomance Of 10th Assembly

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By Gloria Ikibah

The Speaker House of Representatives, Rep. Tajudeen Abbas, has praised the 10th Assembly for what he described as a period of sustained activity and impactful work since it was inaugurated nearly two years ago.

According to him, the House has taken a hands-on approach to governance and legislative duties, driven by a well-defined agenda with bold goals and measurable outcomes.

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Speaker Abbas made the remarks during the first-ever Policy Dialogue centred on the House’s Legislative Agenda organised in collaboration with the Office of the Speaker, the Policy and Legal Advocacy Centre (PLAC), the National Assembly Library Trust Fund (NALTF), and UK International Development on MondayinAbuja.

The event brought together key figures from both federal and state institutions, as well as members of the private sector and representatives of foreign missions.

Speaker Abbas said: “Two years later, I am proud to report that these efforts have yielded results. In terms of legislative output, this House has been extraordinarily proactive and productive. We have introduced a record number of bills and a volume of legislative proposals that is unprecedented at this stage of any assembly.
“More important than quantity, however, is the impact: these bills and motions are geared towards the critical reforms our country urgently needs. Already, many of the significant bills that we passed have received presidential assent.”
The Speaker said the dialogue is “a clear demonstration of our shared effort to promote parliamentary accountability, transparency, and a truly citizen-driven legislature.”
Abbas who recalled how the 10th House pledged to regularly engage with Nigerians, report on its performance, and adjust its course based on the people’s feedback, further noted that the dialogue is part of that promise, serving as a precursor to the upcoming Open NASS Week, where we open our doors to scrutiny and present our midterm progress.
He emphasised that the event is not only to celebrate the House’s achievements but also to candidly examine areas for improvement in the spirit of openness and democratic inclusion.
He said that as the House prepares to mark the midpoint of its tenure, it is significant to reflect on its journey so far.
He said: “When the 10th House was inaugurated in June 2023, Nigeria faced significant challenges. The economy was weak, and there were pressing development and security crises. The populace was understandably frustrated and lost hope in democracy’s ability to meet their aspirations. This was followed by the shock of the removal of fuel subsidies, which exacerbated economic hardships and increased public anxiety. We recognised that extraordinary times required an extraordinary response from the legislature.
“Therefore, from the onset, the House dedicated itself to creating and implementing the most ambitious legislative agenda in our history. Designed to deliver good governance, this agenda aims to restore hope in democracy for our people.”
Speaker Abbas pointed out that the Legislative Agenda was not crafted in isolation but a product of extensive consultations with key stakeholders, including ministries and agencies, civil society, and development partners. He recalled how the House produced a comprehensive roadmap to guide its law-making, oversight, and representation from 2023 to 2027.
The Speaker stressed that the House took special care to align its priorities with the ‘Renewed Hope Agenda’ of the President Bola Ahmed Tinubu-led administration, ensuring synergy between the legislative and executive arms of government.
“Thus, our agenda embodies collaborative governance by engaging in dialogue with the Executive. This approach allows us to fulfil our independent mandate while ensuring that our legislative actions support national objectives and address the pressing needs of our citizens,” he stated.
Speaker Abbas explained that the agenda encompasses eight broad priority areas that address Nigeria’s diverse needs. These include strengthening good governance, enhancing national security, revitalising the economy, reforming our laws, and promoting social development. It also advocates for inclusion through an open parliament, directs foreign policy in the national interest, and tackles climate and environmental sustainability.
He said: “Never has a House of Representatives set such an expansive and forward-looking legislative blueprint. The impact the 10th House has made thus far is largely due to the deliberate, strategic, and focused execution of this agenda. We have remained focused and resilient in pursuing these goals, even when unforeseen issues arose.
“We backed our plan with concrete implementation strategies. Each House committee integrated the agenda into its work plans; we established clear milestones and key performance indicators to track progress, and we set up special committees to monitor and evaluate how well we are meeting our targets.
“We also insisted on better communication and regular reporting, which included requiring members to maintain functional constituency offices and report on their engagement with the public, ensuring accountability at every step.”
He added: “Crucially, our agenda was designed with the flexibility to respond to emerging crises. This means that even as new challenges have arisen, we have adapted swiftly without losing sight of our long-term goals. In short, we did not simply announce an ambitious agenda and hope for the best; we put in place the mechanisms and political will to implement it.”
When it comes to representation, Speaker Abbas stated that the members have endeavoured to make the 10th House “a citizen-driven legislature in practice, not just in words.” He said: “In every major endeavour, we have actively sought the people’s voice.”
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SAD! Woman, child electrocuted in Edo

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A 32-year-old woman has been reportedly electrocuted by a cable belonging to the Benin Electricity Distribution Company (BEDC).

The woman and her baby were said to be electrocuted to death by a cable beneath a flooded road she was walking on after a heavy downpour.

The incident was said to have occurred on May 7th, 2025 at the Oregbeni area of Benin City, Edo State capital.

The woman, identified as Sarah David, was said to have had her baby strapped on her back when the tragedy occurred.

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The cable was said to have fallen from one of the electricity poles in the neighborhood.

An eyewitness who simply identified herself as Edugie said: “the woman was also walking with a toddler believed to be her eldest child when the tragedy struck.

But for a passer-by who quickly rescued the toddler from the water, the entire family would have been wiped out.

“But for a passer-by who quickly rescued the toddler from the water, the entire family would have been wiped out.

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“After the incident, some residents in the area called on the authorities of the Benin Electricity Distribution company (BEDC) to interrupt electricity supply to the area after which the corpses were removed from the flooded area.

The incident occurred on May 7th, 2025 at the Oregbeni axis of the Benin-Agbor Road,” the witness stated.

The husband of the deceased woman, Mr Samuel Ibom David bemoaned the death of his wife and baby.

He appealed to members of the public to assist him with funds to pay his late wife bride price and enable him approach her family for proper burial.

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The management of Benin Disco were yet to respond to the tragedy at the time of filing this report on Sunday evening.

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10th House extraordinarily proactive, productive for two years – Speaker Abbas

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The Speaker of the House of Representatives Hon. Abbas Tajudeen, has said the 10th House has been proactive and productive since its inauguration almost two years ago.

Speaker Abbas also noted that the Legislative Agenda of the 10th, with far-reaching and ambitious proposals and targets, has produced results.

The Speaker made this known in Abuja on Monday at the inaugural Policy Dialogue on the Legislative Agenda of the House, which had top government officials and organisations at the federal and state levels in attendance. The private sector and the diplomatic corps were also represented.

The event was organised by the Office of the Speaker in conjunction with the Policy and Legal Advocacy Centre (PLAC); the National Assembly Library Trust Fund (NALTF), and the UK International Development.

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Speaker Abbas said: “Two years later, I am proud to report that these efforts have yielded results. In terms of legislative output, this House has been extraordinarily proactive and productive. We have introduced a record number of bills and a volume of legislative proposals that is unprecedented at this stage of any assembly.

“More important than quantity, however, is the impact: these bills and motions are geared towards the critical reforms our country urgently needs. Already, many of the significant bills that we passed have received presidential assent.”

The Speaker said the dialogue is “a clear demonstration of our shared effort to promote parliamentary accountability, transparency, and a truly citizen-driven legislature.”

While recalling how the 10th pledged to regularly engage with Nigerians, report on its performance, and adjust its course based on the people’s feedback, the Speaker noted that the dialogue is part of that promise, “serving as a precursor to the upcoming Open NASS Week, where we open our doors to scrutiny and present our midterm progress.”

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Speaker Abbas emphasised that the goal of the event is not only to celebrate the House’s achievements but also to candidly examine areas for improvement in the spirit of openness and democratic inclusion. He said that as the House prepares to mark the midpoint of its tenure, it is significant to reflect on its journey so far.

He said: “When the 10th House was inaugurated in June 2023, Nigeria faced significant challenges. The economy was weak, and there were pressing development and security crises. The populace was understandably frustrated and lost hope in democracy’s ability to meet their aspirations. This was followed by the shock of the removal of fuel subsidies, which exacerbated economic hardships and increased public anxiety. We recognised that extraordinary times required an extraordinary response from the legislature.

“Therefore, from the onset, the House dedicated itself to creating and implementing the most ambitious legislative agenda in our history. Designed to deliver good governance, this agenda aims to restore hope in democracy for our people.”

Speaker Abbas pointed out that the Legislative Agenda was not crafted in isolation but a product of extensive consultations with key stakeholders, including ministries and agencies, civil society, and development partners. He recalled how the House produced a comprehensive roadmap to guide its law-making, oversight, and representation from 2023 to 2027.

Advertisement

The Speaker stressed that the House took special care to align its priorities with the ‘Renewed Hope Agenda’ of the President Bola Ahmed Tinubu-led administration, ensuring synergy between the legislative and executive arms of government.

“Thus, our agenda embodies collaborative governance by engaging in dialogue with the Executive. This approach allows us to fulfil our independent mandate while ensuring that our legislative actions support national objectives and address the pressing needs of our citizens,” he stated.

Speaker Abbas explained that the agenda encompasses eight broad priority areas that address Nigeria’s diverse needs. These include strengthening good governance, enhancing national security, revitalising the economy, reforming our laws, and promoting social development. It also advocates for inclusion through an open parliament, directs foreign policy in the national interest, and tackles climate and environmental sustainability.

He said: “Never has a House of Representatives set such an expansive and forward-looking legislative blueprint. The impact the 10th House has made thus far is largely due to the deliberate, strategic, and focused execution of this agenda. We have remained focused and resilient in pursuing these goals, even when unforeseen issues arose.

Advertisement

“We backed our plan with concrete implementation strategies. Each House committee integrated the agenda into its work plans; we established clear milestones and key performance indicators to track progress, and we set up special committees to monitor and evaluate how well we are meeting our targets.

“We also insisted on better communication and regular reporting, which included requiring members to maintain functional constituency offices and report on their engagement with the public, ensuring accountability at every step.”

He added: “Crucially, our agenda was designed with the flexibility to respond to emerging crises. This means that even as new challenges have arisen, we have adapted swiftly without losing sight of our long-term goals. In short, we did not simply announce an ambitious agenda and hope for the best; we put in place the mechanisms and political will to implement it.”

When it comes to representation, Speaker Abbas stated that the members have endeavoured to make the 10th House “a citizen-driven legislature in practice, not just in words.” He said: “In every major endeavour, we have actively sought the people’s voice.”

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