Access Holdings reports N1 trillion profit, outlines growth strategy at AGM
via Punch Nigeria3 min read
Access Holdings Plc announced a profit before tax of N1.007 trillion, demonstrating the strength of its diversified platform and expanding earnings. Total assets reached N51.56 trillion, with customer deposits increasing. At its fourth Annual General Meeting, Chairman Aigboje Aig-Imoukhuede stated that the company's 2025 performance reflected a deliberate strategy to strengthen long-term fundamentals while maintaining strong financial results. He noted that the group made a prudent decision to accelerate the recognition of legacy exposures and exit regulatory forbearance positions, leading to elevated impairment charges, which prioritized balance sheet strength and long-term resilience over short-term earnings. The AGM highlighted the group's evolution beyond traditional banking into a diversified financial services ecosystem, with growing contributions from investment management, insurance, and technology-driven platforms, including Access ARM Pensions, Access Insurance Brokers, Oxygen X Finance, and Hydrogen Payments. The board addressed shareholder concerns regarding dividend payments, clarifying that the non-payment was due to regulatory alignment and compliance within the banking subsidiary, assuring shareholders of a resumption once conditions are met. The company also reported progress in governance and leadership continuity, with Innocent Ike appointed Group Managing Director/Chief Executive Officer and Ibironke Adeyemi as an Independent Non-Executive Director. Access
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African players are expressing confidence in the continent's representatives at the 2026 FIFA World Cup in Mexico, Canada, and the United States, drawing inspiration from Morocco's semi-final achievement in Qatar 2022. The tournament's expansion to 48 teams means 10 African nations will participate: Algeria, Cape Verde, C么te d鈥橧voire, DR Congo, Egypt, Ghana, Morocco, Senegal, South Africa, and Tunisia. While no African nation has won the World Cup since 1930, Cameroon 1990, Senegal 2002, and Ghana 2010 reached the quarter-finals before Morocco set a new benchmark. Senegal forward Iliman Ndiaye and South Africa captain Ronwen Williams believe African teams can advance further. Williams stated that African football has seen immense improvement in leagues, CAF, the African Champions League, and AFCON, and that Morocco's performance instilled belief. Ndiaye emphasized a winning mindset, stating he wouldn't participate if not to win. Former Ghana midfielder Michael Essien also believes the expanded tournament improves Africa's chances of making history.
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Seychelles and Eritrea have adopted Abbott鈥檚 Determine Antenatal Care Panel, a World Health Organization-prequalified integrated diagnostic test, to intensify their fight against mother-to-child transmission of HIV, syphilis, and hepatitis B. This integrated test allows for simultaneous screening of these three infections from a single finger-prick blood sample, providing results within minutes. The innovation aligns with WHO's goals for the triple elimination of these infections and is particularly beneficial in regions where pregnant women may have limited antenatal visits. The Determine ANC Panel is the first and only WHO prequalified rapid diagnostic test that includes a 4th-generation HIV test. Both Seychelles and Eritrea's Ministries of Health have highlighted the significance of this adoption, with Eritrea building on its previous success in eliminating mother-to-child transmission of HIV. Experts emphasize that without early diagnosis, syphilis and hepatitis B can lead to adverse pregnancy outcomes and long-term health complications. Dr. Andrew Mulwa, head of Kenya's National AIDS and STIs Control Programme, noted Kenya's updated national PMTCT guidelines to reflect triple elimination. Aziz Abdi, Abbott鈥檚 General Manager for Rapid Diagnostics in Central, East and West Africa, stated that the test empowers healthcare workers to detect infections and act immediately to prevent transmission.