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Access Bank Plc Announces Strategic Update And Transactions In Furtherance Of Its Vision To Be Africa’s Gateway To The World

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Access Bank Plc (“Access Bank” or ‘’the Bank’’) announces today that it has received the Central Bank of Nigeria’s Approval-in-Principle for the Bank’s restructuring to a holding company (“HoldCo”).

The proposed HoldCo structure would enable the Bank to further accelerate its objectives around business diversification, improved operational efficiencies, talent retention as well as robust governance. Further details regarding the HoldCo structure will be communicated to the market in due course.

Access Bank also announces definitive agreements to bolster its market position in Mozambique and enter the South African market. This follows the recent transaction with Cavmont Bank in Zambia and further embeds the Bank’s presence in the SADC region, one of Africa’s most important trading blocs.

These transactions will result in a more connected African banking network that builds on Access Bank’s existing foundation and enhances its value proposition to stakeholders, including customers and employees. Shareholders will benefit from the economies of scale of a larger banking network, including the associated cost efficiencies arising from the Bank’s federated IT system and the replication of investments in innovative products across a wider range of markets.

A broader and connected Africa network remains a core strategic focus for geographic earnings growth and diversification, which will further enhance profitability and risk metrics. Through these transactions, Access Bank will be well placed to promote regional trade finance and other cross-border banking services, further leveraging its presence in key global trade corridors in the UAE, the UK, China, Lebanon, and India.

Strategic Entry and Acquisition in Mozambique

Access Bank announces that it has received regulatory approvals to commence operations in Mozambique under the name Access Bank Mozambique, S.A. (“Access Bank Mozambique”).

Access Bank also announces that its subsidiary, Access Bank Mozambique, has entered into a definitive agreement with ABC Holdings Limited (“ABC Holdings”), a wholly-owned subsidiary of Atlas Mara Limited (“Atlas Mara”) to acquire African Banking Corporation (Moҫambique), S.A., (“BancABC Mozambique”) for cash, in a combination of definitive and contingent consideration.

This transaction will be funded from the capital invested by the Bank in Access Bank Mozambique and will result in the Access Bank Mozambique becoming the 7th largest bank in the country, up from the 20th. As an enlarged business, Access Bank Mozambique will have an enhanced capacity to play a more impactful role in the growth of the Mozambican economy, particularly in the emerging oil and gas sector, an industry that Access Bank has deep experience in.

The transaction is subject to regulatory approvals and customary conditions precedent.

 

Strategic Investment in South Africa

Building on its strategy of delivering a robust banking operation that connects key African markets, Access Bank has entered into a definitive agreement with GroCapital Holdings (“GroCapital”) to invest in Grobank Limited over two tranches. The first is an initial cash consideration for a 49% shareholding, increasing to a majority stake in the second tranche. Both tranches are subject to various regulatory approvals and the overall transaction subject to Grobank’s shareholder approvals.

GroCapital, whose shareholders include the Public Investment Corporation – Africa’s largest investment manager, and Fairfax Africa Holdings – a leading global investor, will retain an existing but diluted shareholding in Grobank.

A presence in South Africa will serve as a cornerstone for further momentum in delivering on Access Bank’s mission to be Africa’s Gateway to the World. The proposed transaction is expected to provide access to the largest banking market in Africa and enable Access Bank to consolidate its Southern African and broader African footprint with enhanced capabilities to fulfill the needs of multi-national clients.

Speaking on these developments Herbert Wigwe, GMD/CEO Access Bank said:

We have consistently said that we are focused on building the scale needed to become a leading African bank; one that leverages our experienced and growing talent base and key stakeholder partnerships towards driving sustainable impact and profitability. Today’s announcement demonstrates further commitment to delivering our strategic aspirations of becoming Africa’s Gateway to the World in line with our vision to be the World’s Most Respected African Bank.

These transactions will significantly strengthen our presence in Southern Africa and further our footprint for growth in the SADC region. With a broader presence across the continent, Access Bank will be better placed to support our customers who are increasingly looking towards intra Africa growth. The proposed transactions will accelerate the Bank’s momentum towards delivering world-class banking services to an expanded customer base across Africa. Our goal remains to reach and impact 100 million unique customers across the continent.’’

 

 

SUNDAY EKWOCHI

COMPANY SECRETARY

FRC/2013/NBA/00000005528

BIG STORY

Chief Pius Akinyelure Calls for Peace Amid Rising Tension in Idanre Over Alleged Consensus Candidates

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As political tension continue to rise in Idanre Local Government Area following speculation around alleged consensus candidates towards the upcoming primaries of the All Progressives Congress (APC), elder statesman and Chairman of the Governors Advisory Council in Ondo State, Chief Pius Akinyelure, has called for calm, urging party faithful and stakeholders to refrain from action capable of disrupting the peace of the ancient town.

In a strongly worded but conciliatory message made available to the press, Akinyelure dismissed claims of any officially endorsed consensus candidates in Idanre at this stage, describing such reports as premature and capable of heating the polity in the local government and in Ondo State.

He noted that while internal democratic processes may generate disagreements, members must prioritize unity, discipline, and respect for party structures rather than resort to hostility or misinformation.

“Our attention has been drawn to growing tension fuelled by unverified claims of consensus arrangements. Let it be clearly stated that there is no basis for such assertions at the moment. Party members should disregard any narrative intended to mislead or create unnecessary division,” he said.

The respected APC chieftain cautioned political actors and their supporters against heating the polity, warning that desperation and inflammatory rhetoric could undermine the long-standing reputation of Idanre as a bastion of progressive politics in Ondo State.

He emphasized that peace and reconciliation remain the most potent tools for sustaining the strength and electoral viability of the APC, particularly at a time when unity is crucial for consolidating the gains of the party at both state and national levels.

Akinyelure further urged aggrieved members to channel their concerns through established party mechanisms, stressing that dialogue and consultation are the hallmark of a mature political system.

“Political contests should not degenerate into conflict. We must remember that we are members of one family, bound by a shared vision. Violence, intimidation, or the spread of falsehoods will only weaken our collective strength,” he warned.

He also appealed to party leaders, youths, and grassroots mobilizers in Idanre to demonstrate restraint and responsibility, noting that the actions taken at this critical moment would determine the party’s electoral fortunes in Idanre in next year’s elections. He assured that available positions would be fairly distributed among qualified candidates.

Reaffirming Idanre’s historical role as a bastion of progressive ideology, Chief Akinyelure called on all stakeholders to close ranks and work towards reconciliation, adding that unity within the party would ultimately translate into electoral success next year.

Political observers in Idanre and Ondo State say this intervention by the apex leader is timely, coming amid heightened anxiety and speculation among party members. This latest intervention by the elder statesman is expected to help douse tension while reinforcing confidence in the party’s internal processes.

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BIG STORY

FG Slams 13-Count Treason Charge Against Sylva, Retired Generals, Police Officer, Other Alleged Coup Plotters

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The federal government has filed a 13-count charge before the federal high court in Abuja against alleged plotters of a coup to oust President Bola Tinubu.

Among the suspects are a retired major general, a retired naval captain, a serving police inspector and three others.

The defendants are accused of waging a war against Nigeria and committing acts bordering on treason and terrorism.

THE ALLEGED PLOT

In October 2025, the federal government announced the cancellation of a parade earlier scheduled to celebrate the country’s 65th independence anniversary on October 1.

Days later, there were reports that the cancellation of the independence anniversary event was linked to an alleged coup attempt.

However, the DHQ dismissed the reports, insisting that the cancellation had no links to the alleged coup attempt.

On October 31, 2025, it was reported that 16 military officers were arrested in the first week of the month over the alleged coup attempt, while two other officers were on the run.

In January 2026, the defence headquarters (DHQ) confirmed that there was a plot to overthrow Tinubu.

Samaila Uba, the DHQ director of defence information, had said investigations conducted in line with established military procedures found some personnel involved in a coup plot.

Uba had said the officers would be arraigned before relevant military judicial panels.

In March, family members of military officers detained over an alleged coup plot appealed to Tinubu to allow the suspects to be tried in an open court.

During a press conference in Abuja, wives and other family members of the detained officers also requested access to the alleged coup masterminds.

In April, families of the detained military officers protested at the entrance of the national assembly to demand a speedy trial and access to their relatives.

DEFENDANTS

The defendants in the case are Timipre Sylva, a former minister of state for petroleum resources; Mohammed Ibrahim Gana, a retired major general; Erasmus Ochegobia Victor, a retired captain; and Ahmed Ibrahim, a police inspector.

Others are Zekeri Umoru, Bukar Kashim Goni and Abdulkadir Sani.

The alleged coup plotters are expected to be arraigned before Joyce Abdulmalik, a judge at the Federal High Court in Abuja, on April 22.

The charges were filed by the office of the Attorney-General of the Federation and signed by Rotimi Oyedepo, Director of Public Prosecutions of the Federation.

In the charge sheet, the federal government accused the defendants of treason and terrorism, failure to disclose security intelligence and money laundering linked to terrorism financing.

The federal government alleged that the defendants conspired with one another to “levy war against the state to overawe the President of the Federal Republic of Nigeria”.

Bukar Kashim Goni was alleged to have “indirectly retained the aggregate sum of N50,000,000, which forms part of the proceeds of an unlawful act to wit: terrorism financing”, while Abdulkadir Sani allegedly retained N2 million from a similar source.

Umoru was alleged to have “without going through a financial institution accepted a cash payment of the sum of N10,000,000″, and also retained an additional N8.8 million suspected to be proceeds of terrorism financing.

Ibrahim, the police inspector, was also accused of taking possession of N1 million linked to the same alleged scheme.

Ibrahim and Umoru were accused of participating in meetings tied to terrorist activities.

“That you, MAJOR GENERAL MOHAMMED IBRAHIM GANA -(RTD), CAPTAIN (NN) ERASMUS OCHEGOBIA VICTOR -(RTD), INSPECTOR AHMED IBRAHIM (AP776373), ZEKERI UMORU, BUKAR KASHIM GONI, ABDULKADIR SANI, TIMPRE SYLVA (still at large) and others, sometime in the year 2025, in Abuja within the jurisdiction of this Honourable Court, conspired with one another to levy war against the state to overawe the President of the Federal Republic of Nigeria and thereby committed an offence contrary to and punishable under Section 37(2) of the Criminal Code Cap C38 LFN 2004,” part of the charge sheet reads.

“That you, MAJOR GENERAL MOHAMMED IBRAHIM GANA -(RTD), CAPTAIN (NN) ERASMUS OCHEGOBIA VICTOR -(RTD), INSPECTOR AHMED IBRAHIM(AP776373), ZEKERI UMORU, BUKAR KASHIM GONI, ABDULKADIR SANI, TIMPRE SYLVA(still at large) and others, sometime in the year 2025, in Abuja within the jurisdiction of this Honourable Court, knowing that COLONEL MOHAMMED ALHASSAN MA’AJI (N/10668) and others intended to commit treason, did not give the information thereof with all reasonable despatch to either the President of the Federal Republic of Nigeria, or a Peace Officer and thereby committed an offence contrary to and punishable under Section 40(b) of the Criminal Code Cap C38 LFN 2004.”

 

 

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BIG STORY

Tinubu Approves N15bn Take-off Grant For New Police Academy Campus in Ogun

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President Bola Tinubu has approved the establishment of a new campus of the Police Academy in Erinja, Yewa South LGA of Ogun.

In a statement on Monday, Bayo Onanuga, special adviser to the president on information and strategy, said Tinubu also approved a special take-off grant of N15 billion for the college.

“The President’s approval was in fulfilment of the provisions of the Nigeria Police Academy (Establishment) Act, 2021, particularly with respect to the expansion of the Police Academy based in Wudil, Kano state, into multiple campuses across the country,” the statement reads.

Onanuga said the fund would be sourced from the 2026 allocation of the Tertiary Education Trust Fund (TETfund) to “finance priority infrastructure, academic facilities, student accommodation, and core training assets”.

The presidential spokesperson said the siting of the new police campus in Erinja was recommended at a high-level consultative meeting involving Tunji Alausa, minister of education; officials of his ministry; Tunji Disu, the inspector-general of police (IGP); and Abdullahi Ribadu, executive secretary of the National Universities Commission (NUC).

“The meeting considered student intake capacity, funding realities, academic quality assurance, and the long-term needs of the Nigerian Police Force, which is currently recruiting more men,” he added.

“President Tinubu believes the expansion will strengthen institutional governance, modern policing education, and national security.”

On December 9, 2024, Ibrahim Gaidam, minister of police affairs, said Tinubu had approved the recruitment of 30,000 police officers annually for the next six years.

Gaidam spoke when he visited the Nigeria Police Academy in Wudil, Kano state, during the screening exercise of recruits.

The police affairs minister said the federal government was committed to transparently recruiting more police officers.

Gaidam said the annual recruitment of police officers is part of the government’s commitment to ensuring Nigeria has enough personnel to address the prevailing insecurity.

“The number of police being recruited, 10,000, is not enough to cover all the states, so the president has given approval for the recruitment of 30,000 policemen annually for the next five to six years,” he said.

“I believe if this is done, by the end of the year, we should be able to get enough policemen to take care of our security challenges in this country.”

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