Access Holdings Plc is considering selling at least one of its overseas subsidiaries as it works to comply with the Central Bank of Nigeria’s (CBN) rules limiting banks’ investments in foreign operations to 10% of shareholders’ funds.
The proposed divestment is part of a broader review of the group’s international portfolio, with the lender identifying an underperforming subsidiary that may no longer justify the capital committed to its operations.
The group’s Chairman, Aigboje Aig-Imoukhuede, disclosed the development in an interview with Bloomberg on the sidelines of the African Financial Industry Summit in Luanda, Angola, last week. Brandspur Banking News Desk understands that the potential exit comes as the group intensifies efforts to bring its overseas investments within the regulatory threshold.
Aig-Imoukhuede indicated that the group would be willing to withdraw from businesses that fail to deliver adequate returns or meet their original strategic objectives.
He said the lender was reviewing the performance of its subsidiaries to determine whether they remained commercially viable and aligned with its long-term expansion strategy.
Access Holdings is also pursuing other measures to meet the CBN requirement, including recalling excess capital from foreign subsidiaries, selling minority shareholdings and restructuring selected businesses.
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The group’s Chief Executive Officer, Innocent Ike, disclosed during a conference call that Access had completed one capital repatriation exercise involving six targeted subsidiaries.
The lender is also engaging regulators in five countries to facilitate the return of excess capital to Nigeria.
Access Bank, the group’s banking subsidiary, had foreign subsidiary investments equivalent to 19.4% of its shareholders’ funds in May, significantly above the CBN’s 10% limit.
The regulator gave the bank 12 months to address the excess exposure, with the group working towards compliance ahead of the March deadline.
Aig-Imoukhuede indicated that the exercise could be completed earlier than initially planned, with January identified as the group’s internal target.
Despite the possibility of an overseas divestment, the chairman maintained that Access Holdings’ international operations remained fundamentally strong.
The group has continued to review its foreign businesses to ensure they generate sustainable returns and support its broader growth strategy.
Access Holdings has previously withdrawn from foreign markets when its operations failed to meet financial or strategic expectations.
In 2014, the bank sold its loss-making Ivory Coast subsidiary to Cameroon’s Afriland First Group SA after the CBN restricted Nigerian lenders from using parent-bank capital to support foreign subsidiaries.
More recently, Access Holdings completed the sale of a 7.44% stake in its Ghanaian subsidiary in July 2026.
A filing with the Ghana Stock Exchange showed that Access Bank Plc sold 12,085,318 ordinary shares in Access Bank Ghana on July 15, with the transaction receiving regulatory clearance, including a no-objection from the Bank of Ghana.
The latest review highlights the adjustments Nigerian banks are making to their international operations as they seek to comply with regulatory requirements while maintaining their presence across African markets.
