Access Holdings says it can still pay dividends despite CBN restrictions

Access Holdings Plc has clarified its position after the Central Bank of Nigeria told some banks to temporarily stop paying dividends, bonuses, and investing in foreign companies, according to a statement published on the Nigerian Exchange and seen by BusinessDay.

The statement, signed by Company Secretary Sunday Ekwochi, responds to a CBN letter dated June 13, 2025, about new banking rules on lending limits and other financial requirements.

Access Holdings said its banking arm, Access Bank, was different from other banks because it had already met the central bank’s requirements. “As of December 31, 2024, the Company’s banking subsidiary, Access Bank Plc was the first bank to meet and exceed the Central Bank of Nigeria’s N500 billion minimum capital requirement for commercial banks with international authorisation,” the statement said.

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The company said it is following all the CBN’s current rules about how much money banks can lend to single customers. “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 said.

While the CBN has given banks until June 30, 2025, to comply with certain requirements, Access Holdings said it would meet this deadline “while maintaining strong capital buffers and paying dividends to its shareholders.”

The company told the stock exchange about this situation because the rules require companies to inform investors when important things happen that could affect their business.

“We assure our esteemed shareholders and stakeholders of our commitment to delivering sustainable value in the immediate and long term and thank them for their trust and support over the years,” the statement said.