By Stephen Simon
Shareholders of Access Holdings Plc have expressed strong confidence in the company’s long-term growth strategy, backing management’s decision to prioritise structural realignment and future value creation despite the non-payment of dividends for the 2025 financial year.
Speaking after the company’s Annual General Meeting, shareholders said Access Holdings had demonstrated resilience and strong fundamentals, giving investors confidence that the group remains well-positioned to deliver sustainable returns in the years ahead.
The shareholders noted that the group’s performance over the past 15 months underscored the strength of its business model and justified its strategic shift from expansion and investments towards enhanced value creation and shareholder returns.
Access Holdings, which has nearly one million shareholders across Africa, is regarded as one of the continent’s most widely held financial institutions. Retail investors account for more than three-quarters of its shareholder base, making them a critical stakeholder group in the company’s future growth plans.
Founding Coordinator of the Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, said shareholders remained optimistic about the future of the company, citing its transformation from a mid-tier lender into one of Nigeria’s leading banking groups.
According to Nwosu, investors understood the rationale behind the board’s decision not to declare dividends for 2025, noting that the move was driven by regulatory considerations and the need to strengthen the group’s long-term position.
President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Dr Faruk Umar, said shareholders were focusing on the bigger picture and were confident the company would ultimately deliver substantial returns. He likened the strategy to a compounding investment that would generate greater rewards over time.
Other shareholder groups also endorsed the company’s direction. National Chairman of the New Dimension Shareholders Association, Patrick Ajudua, praised Access Holdings’ growth trajectory, pointing to its 2025 performance in which gross earnings rose to N5.53 trillion while total assets expanded beyond N51 trillion. He, however, urged management to sustain efforts at cost optimisation and reducing impairment charges.
Similarly, Chairman of the Progressive Shareholders Association of Nigeria, Boniface Okezie, said dividend payment should not be the sole measure of corporate performance. While acknowledging shareholders’ desire for returns, he noted that regulatory constraints affecting the banking subsidiary had influenced the holding company’s ability to distribute dividends.
Access Holdings reported a 16.2 per cent increase in pre-tax profit to N1.01 trillion in 2025, supported by growth in interest income, fees and commissions. Gross earnings rose from N4.88 trillion to N5.53 trillion, while shareholders’ funds increased to N4.33 trillion. With earnings per share standing at N13.48, shareholders approved the board’s decision to focus on restructuring foreign investments and meeting regulatory requirements, expressing confidence that the strategy would deliver stronger long-term value and reinforce the group’s ambition of serving as Africa’s gateway to the global financial system.
