Access Holdings to reduce stakes in foreign subsidiaries after CBN’s directive 

Access Holdings Plc says it will reduce its equity stakes in some of its foreign banking subsidiaries to comply with a new regulatory limit set by the Central Bank of Nigeria (CBN).

The chief executive officer (CEO) of Access Bank, Roosevelt Ogbonna spoke on the plan during an investor call in Lagos on Tuesday, according to a report by Bloomberg.

In June 2025, the CBN directed banks to suspend foreign investment and capped equity investments in foreign subsidiaries at 10 percent of total shareholders’ funds.

The regulator also gave lenders a 12-month window to comply.

Speaking at the event, Ogbonna said Access Holdings’ current exposure stands at 19.4 percent, adding that the group is already considering divestments to meet the new threshold.

“We are looking at divestments to bring down our equity stake,” he said.

“We will still be the controller of those banking entities, and the value creation will continue to be strong.”

On its funding plans, the CEO said Access Bank is considering refinancing a $500 million eurobond due in September, primarily to extend the maturity profile of its debt rather than address liquidity concerns.

He said a final decision on the refinancing, as well as on a separate $500 million perpetual bond due in October, is expected later this month.

Access Bank’s an aggressive appetite for acquiring banking assets positions the organisations as one of the most active players in Nigeria’s financial system in terms of expansion.

In 2025, the bank acquired assets in Standard Chartered Bank’s Gambian subsidiary. The bank’s United Kingdom’s (UK) subsidiary bought a 76 percent stake Mauritius’ AfrAsia Bank.

In addition, Access Bank later acquired the National Bank of Kenya Limited (NBK) from KCB Group.