Access Holdings, NGX partnership commits to growing economy, Nigeria

BY CHARLES  ABUEDE

Access Holdings says it remains committed to its partnership with the Nigerian Exchange (NGX) in contributing to the Nigerian economy and the growth of the country through offering the best customer-focused banking services, and will continue to be the partner of choice.

Senior level executives of the financial institution including its chairman and group managing director gave this commitment at a Closing Gong Ceremony hosted by NGX to commemorate Access Holdings’ successful restructuring into a holding company and the listing of 35,545,225,622 ordinary shares of its ordinary shares on the exchange.

Temi Popoola, chief executive of the NGX, commended Access Holding Plc’s contribution to the Nigerian growth story and emphasised NGX’s commitment to collaborating with institutions driving growth in the Nigerian economy. He noted that the exchange is proud to be part of the progress that Access Holdings has successfully achieved over the past 20 years while assuring that the company will find a worthy partner in the Exchange as it commences its new journey.

Herbert Wigwe, group managing director/chief executive officer, Access Holdings Plc, said, “In 2004, following the Central Bank of Nigeria mandated recapitalisation initiative, Access Bank came to the exchange on its maiden journey to raise capital. NGX created the platform through which we raised capital and quickly consummated one of the largest mergers in the history of this country. Today’s event marks a major milestone for us as we evolve from a traditional banking institution into a full-fledged financial services provider that would create an ecosystem of financial services for all Nigerians to benefit from. This is the exchange that made Access Bank and we thank the exchange for its continued support over the years.”

Also, Bababode Osunkoya, chairman, Access Holdings Plc, said, “The significance of this event as our first external engagement as Access Holdings Plc is not lost on us. Access Holdings Plc is an evolutionary expression for us which signifies our moving away from what was known as Access Bank into a financial institution. We acknowledge the impact of our collaboration with The Exchange over the years and we look forward to continuing this mutually beneficial partnership to take Nigeria and Africa to the world.”

A.B. Mahmoud, chairman, NGX, congratulated the board and executive management of Access Holdings and the parties to the transaction, Chapel Hill Denham Advisory Limited, Coronation Securities Limited, Aluko & Oyebode, and Africa Law Practice NG & Company.

“NGX has emerged from a recent restructuring and is better positioned to support our stakeholders in their quest to raise long-term capital,” he said, adding, “The Exchange is better positioned to lead government advocacy efforts for listed companies, promote technology advancement and digital innovation for the capital market, and increase retail investor participation in the capital market aimed at building a market for the future and addressing the prevailing challenge of financial inclusion. We welcome Access Holdings Plc to a renewed NGX and look forward to deepening our collaboration to develop and push for disruptive, out of the box ideas financial products that will dimension the next curve for the capital market.”