Access Holdings has confirmed it will not pay a dividend for the 2025 financial year, prioritising, instead, alignment with regulatory and prudential guidelines of the Central Bank of Nigeria, (CBN).
Offering clarification for its action that has dashed hope of many of its shareholders, the company insists that its action was rather driven by regulatory and prudential considerations and not weak financial performance.
The clarification was made during the Group’s Full Year 2025 Investors and Earnings Call, where management addressed concerns from shareholders over the absence of dividend payments despite strong earnings growth and expansion of the Group’s balance sheet.
Access Holdings said the non-payment of dividends for the year ended December 31, 2025, reflected ongoing regulatory alignment requirements that must be resolved before approvals for shareholder distributions can be granted.
Group Managing Director and Chief Executive Officer of Access Holdings Plc, Innocent C. Ike, said the company remained committed to rewarding shareholders and sustaining long-term value creation.
“Access Holdings has a strong history of consistent dividend payments, and rewarding shareholders remains a core priority for the Board and Management,” Ike said.
“The non-payment of dividend for 2025 was not due to earnings weakness or cash flow constraints, but an alignment with regulatory and prudential guidelines.”
The Group reported gross earnings of ₦5.53 trillion for the 2025 financial year, representing a 13.3 per cent increase, while profit before tax rose by 16.2 per cent to ₦1.01 trillion — the first time the Group crossed the ₦1 trillion threshold.
Total assets also expanded by 24.2 per cent to ₦51.56 trillion, supported by the integration of newly acquired subsidiaries.
Access Holdings further disclosed that its cost-to-income ratio improved from 56.7 per cent to 51.7 per cent, while capital adequacy stood at 18.2 per cent at the holding company level and 20.2 per cent for its banking subsidiary.
According to the Group, dividends were proposed at both half-year and full-year stages in 2025, but regulatory approvals were not secured.
The company explained that the earlier half-year issue related to Section 7.1 of the CBN Guidelines for Financial Holding Companies had already been resolved following a successful private placement.
However, an additional issue later emerged under Section 19(8)(c) of BOFIA, which limits investments in foreign banking subsidiaries relative to shareholders’ funds.
Access Holdings said regulators granted the Group a 12-month period to address the issue, adding that it plans partial divestments from some foreign banking subsidiaries while retaining majority ownership.
“Maintaining the confidence of our regulators, depositors and stakeholders is fundamental to our operating philosophy,” Ike stated. “The Board remains committed to balance sheet strength and capital resilience as the basis for sustainable shareholder distributions.”
The company said it is strengthening capital and liquidity buffers while continuing engagements with regulators and investors to secure the eventual restoration of dividend payments.
“Our priority remains delivering sustainable long-term value to shareholders through stronger execution, improved financial performance and disciplined growth,” Ike added.
Access Holdings maintained that it remains strategically positioned to leverage its scale, geographic diversification and strong franchise to sustain earnings growth and deliver long-term shareholder value.
