By NIyi Jacobs
Access Holdings Plc has reaffirmed its commitment to long-term shareholder value and sustainable returns following a strong performance in the 2025 financial year, while clarifying the reasons behind the non-payment of dividends for the year ended December 31, 2025.
The clarification was made during the Group’s Full Year 2025 Investors and Earnings Call, where management addressed shareholder concerns over the absence of a dividend declaration despite the Group’s impressive earnings growth and balance sheet expansion.
Access Holdings emphasized that the non-payment of dividends for the 2025 financial year was not due to weak performance, but rather regulatory and prudential compliance requirements that needed to be resolved before dividend payments could be approved.
Commenting on the matter, the Group Managing Director/Chief Executive Officer of Access Holdings Plc, Innocent C. Ike, said:
“Access Holdings has a strong history of consistent dividend payments, and rewarding shareholders remains a core priority for the Board and Management. The non-payment of dividends for 2025 was not due to earnings weakness or cash flow constraints, but was in alignment with regulatory and prudential guidelines.”
For the 2025 financial year, Access Holdings recorded a resilient and diversified performance, highlighting its ability to generate sustainable shareholder value. Gross earnings grew by 13.3 percent to ₦5.53 trillion, driven by strong growth in net interest income and a 40.9 percent increase in fees and commissions to ₦585.07 billion.
Profit before tax rose by 16.2 percent to ₦1.01 trillion, surpassing the ₦1 trillion mark for the first time in the Group’s history.
Total assets expanded by 24.2 percent to ₦51.56 trillion, reflecting business growth and the successful integration of recently acquired subsidiaries. The Group’s cost-to-income ratio improved significantly from 56.7 percent to 51.7 percent due to disciplined cost management and improved operational efficiency.
Capital adequacy also remained strong at 18.2 percent at the holding company level, while the banking subsidiary closed the year with a capital adequacy ratio of 20.2 percent.
“Our performance in 2025 demonstrates the strength of the franchise and its capacity to generate value for shareholders. Our focus is to ensure that shareholder distributions resume on a sustainable basis once all regulatory conditions are satisfied and the necessary approvals are obtained,” Ike added.
Access Holdings explained that although dividends were recommended at both the half-year and full-year stages in 2025, regulatory approvals were not secured.
At the half-year stage, the issue related to Section 7.1 of the Central Bank of Nigeria (CBN) Guidelines for Financial Holding Companies. The matter has since been resolved following the successful completion of an approved private placement.
At the full-year stage, another issue arose under Section 19(8)(c) of the Banks and Other Financial Institutions Act (BOFIA), which limits investments in foreign banking subsidiaries relative to shareholders’ funds. The Group disclosed that it has been granted a twelve-month period to fully address the issue.
As part of the remediation plan, Access Holdings will partially divest from some banking subsidiaries while retaining a super-majority shareholding.
According to Ike:
“Maintaining the confidence of our regulators, depositors, and stakeholders is fundamental to our operating philosophy. In line with our long-standing culture of prudence and sound governance, the Board remains committed to balance sheet strength and capital resilience as the foundation for sustainable shareholder returns.”
The Group reassured stakeholders that it remains committed to engaging constructively with regulators and other stakeholders to resolve all outstanding matters within the stipulated timeline. It also pledged to continue providing timely disclosures and transparent updates to the market and investors.
Access Holdings further disclosed that it is strengthening its capital and liquidity buffers to support the sustainable resumption of dividend payments, subject to the fulfillment of all required conditions and approvals.
Reaffirming management’s confidence, Ike stated:
“We remain actively engaged with the investment community and focused on resolving the matters raised within the prescribed timeline. Our priority remains delivering sustainable long-term value to shareholders through stronger execution, improved financial performance, and disciplined growth. Subject to the successful conclusion of this process and the necessary approvals, our objective is to restore dividend payments on a sustainable basis.”
He concluded:
“Access Holdings is uniquely positioned to leverage its scale, geographic diversification, and strong franchise to deliver resilient earnings growth, stronger returns, and enhanced long-term shareholder value.”
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