Access Holdings Plc, Nigeria's largest bank by assets, is considering exiting at least one of its foreign markets to comply with central bank rules limiting external investments. Chairman Aigboje Aig-Imoukhuede said the bank has identified a 'troublesome' subsidiary it may dispose of. The Central Bank of Nigeria's rules, introduced in June last year, cap equity investments in foreign subsidiaries at 10% of shareholders' funds.
Access's bank unit stood at 19.4% in May, requiring a 12-month remedy window. CEO Innocent Ike said three options are being weighed: recalling surplus capital from six businesses, divesting minority shareholdings, and restructurings. The lender is engaging regulators in five countries.
Nigerian banks expanded aggressively across Africa after the 2016 recession, including acquisitions from Standard Chartered Plc, Atlas Mara Ltd., and KCB Group Plc. Foreign operations face pressure from high operating expenses and compliance costs. Access's South African unit has had ongoing losses, and its Bidvest Bank acquisition fell through.
Mozambique returned to profit in 2025, while Kenya reported a loss in H1 2026. The bank must bring its investment ratio within statutory thresholds before a March deadline.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing