Access Holdings Considers Selling Foreign Subsidiary

Access Holdings Plc, the parent company of Access Bank, is contemplating the sale of one of its foreign subsidiaries due to new regulations from the Central Bank of Nigeria (CBN). Chairman Aigboje Aig-Imoukhuede confirmed that the group has identified a foreign subsidiary for potential sale, although the specific country has not been disclosed.

As of September 30, 2026, Access Bank's investments in subsidiaries amounted to ₦446.6 billion, representing approximately 19.29% of shareholders' funds, which exceeds the 10% limit set by the Banks and Other Financial Institutions Act (BOFIA) 2020. Access Holdings must either reduce its exposure or obtain regulatory approvals by March 2027.

The group is exploring various strategies, including withdrawing excess capital from subsidiaries in seven countries and selling minority stakes in five others while retaining majority control. The company has also restructured its international operations to improve oversight and capital management.