Recapitalisation: Access Holdings receives shareholders' approval to raise $1.5bn

Access Holdings has received shareholders’ approval to raise $1.5 billion from the local and international capital markets amid its recapitalisation plan.

The company said the capital would be raised “whether by way of a public offering, private placement, rights issue, book building process or any other method or combination of methods”. CBN adjusted the capital base for commercial banks with international licences to N500 billion, while national and regional financial institutions’ capital bases were pegged at N200 billion and N50 billion, respectively.All banks are required to meet the minimum capital requirement within 24 months, from April 1 and March 31, 2026.

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