Access Holdings is actively working to satisfy regulatory requirements necessary for the resumption of dividend payments to shareholders. The financial institution had paused cash rewards for the 2025 financial year.

Aigboje Aig-Imoukhuede, chairman of the board of directors, stated at the annual general meeting in Lagos that the inability to declare a dividend was not a reflection of profitability. The group recorded a net profit of N743 billion for the year, alongside total assets surpassing N50 trillion, both record figures.

“Without a doubt, those results do not speak to an institution that cannot pay a dividend. Of course, we can pay a dividend,” Mr. Aig-Imoukhuede told shareholders.

He further clarified that the limitation stemmed from regulatory compliance requirements set by the Central Bank of Nigeria (CBN), specifically mentioning a directive from June of the previous year. This directive suspended dividend payments for banks still utilizing regulatory forbearance introduced during COVID-19 lockdowns.

Access Bank, Zenith Bank, and First Bank were among the major lenders affected by this order. The CBN stipulated that the suspension would remain until affected banks fully exited regulatory forbearance and their capital adequacy and provisioning levels were independently verified to align with current standards.

Mr. Aig-Imoukhuede explained that the CBN views the holding company and its banking subsidiary as a single entity for dividend purposes. Therefore, if Access Bank is unable to pay a dividend, the restriction extends to the holding company.

The chairman highlighted one outstanding compliance issue: a CBN regulation requiring banks to limit investments in foreign banking subsidiaries to 10% of shareholders’ funds. He assured that the CBN has not instructed the bank to divest any offshore operations.

The group is collaborating with regulators in Nigeria and other jurisdictions to resolve this outstanding compliance matter and anticipates achieving full compliance within the current year.