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Access Holdings Plc has disclosed that its banking subsidiary, Access Bank Plc, has not only met but exceeded the Central Bank of Nigeria’s (CBN) N500 billion minimum capital requirement for commercial banks with international authorization as of December 31, 2024.
In a statement signed by the Access Holdings Secretary, Mr. Sunday Ekwochi, and released Wednesday to the Nigerian Exchange Limited, the company assured stakeholders that Access Bank is currently compliant with the single obligor limit requirement and will continue to adhere to this regulation.
According to the statement, regarding the regulatory forbearance on credit facilities, Access Bank has committed to complying with the CBN’s directive by June 30, 2025, while maintaining strong capital buffers.
The bank has also reassured its shareholders that it will pay dividends to them.
The company expressed its commitment to delivering sustainable value to its stakeholders in the short and long term, thanking them for their trust and support over the years.
The CBN had earlier reiterated its stance on the directive, noting that only a few banks are affected by the measures, which include temporary restrictions on capital distributions such as dividends, bonuses and foreign subsidiaries.
The CBN stated that all affected banks have been formally notified and remain under close supervisory engagement.
