Access Holdings Plc, under the leadership of Group Chairman Aigboje Aig-Imoukhuede, has declared an end to its era of aggressive acquisitions. The focus now shifts entirely to value creation and delivering returns to shareholders, with an ambition to become Nigeria's equivalent of Standard Bank of South Africa.
This strategic pivot was announced following the bank’s 4th annual general meeting in Lagos. Aig-Imoukhuede highlighted the group's N1.007 trillion profit and N51.56 trillion balance sheet as testaments to a strategy built on sustainable value creation.
The Chairman acknowledged that the group's extensive inorganic growth strategy, which involved 20 mergers between 2002 and 2025, contributed to a valuation discount compared to peers. He stated, “We’ve done the scale stage of the evolution. Now we’re doing the value part of it.”
Going forward, Access Holdings will benchmark its performance against Standard Bank's return on equity, earnings per share, and cost of risk. Aig-Imoukhuede admitted that the scale-building strategy had impacted share price performance and dividend consistency due to frequent capital raises diluting earnings per share and suppressing returns on equity.
The recent acquisition of a Mauritius-based bank is seen as a transformational move that positions the group in new business corridors. Aig-Imoukhuede expressed his expectation for stakeholders to observe improved performance over the next three to four years before considering further expansion.
For the 2025 financial year, Access Holdings posted gross earnings of N5.529 trillion, total assets of N5.556 trillion, and a profit before tax exceeding N1 trillion. The group's substantial share count is a direct result of past capital raises for acquisitions.
In line with its strategic transformation, Access Holdings has also announced leadership changes. Sa’adu A. Jijji has been appointed as the new Managing Director and CEO of Access ARM Pensions Limited, and Abiodun Adigun is the new CEO of Oxygen X Finance Company Limited. These appointments are intended to strengthen executive capability and drive long-term value creation.
Jijji brings over 20 years of experience in pension fund administration and investment management, having previously overseen pension assets valued at over N1.2 trillion at PAL Pensions. Adigun's appointment at the digital lending subsidiary also signifies a focus on enhancing leadership across the group's diverse businesses.
