Access Bank has announced that it is on course to meet all outstanding regulatory forbearance conditions by the end of June 2025.
In a corporate disclosure made on Wednesday, the bank responded to the June 14 circular issued by the Central Bank of Nigeria (CBN), which introduced new prudential measures for financial institutions currently operating under regulatory forbearance.
The CBN’s circular instructed affected banks to temporarily suspend dividend payouts to shareholders, halt bonus distributions to directors and senior executives, and pause any new investments in foreign subsidiaries or offshore ventures.
The regulator explained that these steps were intended to strengthen capital buffers and ensure adequate provisioning for forbearance exposures and compliance with the single obligor limit (SOL).
Following the circular, Renaissance Capital listed Access Holdings among six financial institutions impacted by the CBN’s directive.
Commenting on the situation, Sunday Ekwochi, company secretary, reaffirmed Access Bank’s commitment to full compliance with the SOL regulation.
Access Bank also assured its shareholders that it will meet all pending CBN directives—including those related to regulatory forbearance on specific credit exposures—by June 30, 2025.
“In accordance with the Central Bank of Nigeria’s directive mentioned in the referenced letter, the Bank is currently compliant with the single obligor limit requirement as of the date herein and will continue to ensure adherence to this regulation,” the statement read.
“Regarding the regulatory forbearance on credit facilities, the Bank will comply with the apex bank’s directive by June 30, 2025, while maintaining strong capital buffers and paying dividend to its shareholders.”
The bank further noted that it was the first institution to meet the new capital requirement as of December 31, 2024—well ahead of the March 2026 deadline.
Access Bank reiterated its long-term commitment to delivering value to shareholders and adhering strictly to all prudential and regulatory guidelines.