Business News

Shareholders Okay Access Holdings Capital Raising Plan, N1.80 Dividend

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By Aduragbemi Omiyale The capital raising plan of Access Holdings Plc was on Friday, April 19, 2024, approved by shareholders at the company’s Annual General Meeting (AGM). In a bid to meet the new minimum capital requirements set for banks by the Central Bank of Nigeria (CBN), Access Holdings plans to get about $1.5 billion, with the subset initiative to raise up to N365 billion, specifically, through a rights issue of ordinary shares to its shareholders. The banking sector regulator in Nigeria has given financial institutions about 24 months to increase their capital base to protect the industry. Lenders in