Access Holdings Plc — Nigeria’s largest banking group by assets — saw its share price extend a two-day losing streak on Thursday after the appointment of Innocent Ike as Group Managing Director/CEO.
The stock slipped by 0.74% on the Nigerian Exchange Limited (NGX) to close at ₦27.00 ($0.0176), down from ₦27.20 ($0.0177) on Wednesday, extending its weekly decline by 1.82% since Tuesday. The group is currently valued at ₦1.44 trillion ($937 million).
According to African Stock Exchanges data, Access Holdings ranks as the 20th most valuable stock on the NGX, with a market capitalisation representing about 1.62% of the Exchange’s equity market.
“The group’s share price has gained 13.2% year-to-date, ranking 103rd on the NGX in performance terms, while also emerging as the most traded stock on the Nigerian market between May 28 and August 28, 2025,” the real-time trading platform said on its website.
Last week, the stock shed 3.64% over four consecutive sessions before attempting a modest rebound earlier this week.
Leadership changes
The market reaction comes after Access Holdings announced a series of boardroom shifts. On Wednesday, it confirmed the resignation of Roosevelt Ogbonna as Non-Executive Director to comply with the Central Bank of Nigeria’s nine-member board cap. Ogbonna, however, remains CEO of Access Bank.
Meanwhile, Bolaji Agbede stepped down as Group Managing Director/ CEO after 18 months in an acting capacity, with the CBN noting her limited experience fell short of requirements for a holding company chief executive.
In addition to leadership changes, the group delayed the release of its half-year results by nearly a month, citing “the complexity of post-completion audit activities” tied to newly acquired subsidiaries.
Regional footprint
The banking arm of Access Holdings operates across 16 subsidiaries, including its flagship Nigerian entity and its UK subsidiary — the group’s only intercontinental unit. Beyond Nigeria and the UK, Access Bank maintains a presence in 14 African countries, spanning Ghana, Rwanda, DRC, Zambia, Gambia, Mozambique, Kenya, South Africa, Botswana, Cameroon, Angola, Guinea, Sierra Leone, and Tanzania.
This footprint cements Access as Nigeria’s largest bank by assets, reflecting its ambition to become the world’s most respected African financial services group.
Note: All figures converted using the official exchange rate of ₦1,537.07/$1 as of August 27, 2025.
