Access Holdings Plc is preparing to reduce its ownership interests in some foreign subsidiaries following a new regulatory directive from the Central Bank of Nigeria (CBN) limiting Nigerian banks’ offshore equity investments to 10 percent of shareholders’ funds.
The new requirement introduces a major shift for Access Holdings, one of Africa’s most expansion-focused banking groups, which has spent the past few years building a broad international presence across multiple African and global markets through acquisitions and organic growth.
Speaking during an investor engagement in Lagos, Access Bank Chief Executive Officer Roosevelt Ogbonna disclosed that the group has been given 12 months to comply with the revised capital exposure framework.
The regulation effectively restricts how much Nigerian banks can commit to foreign subsidiaries relative to their total capital base, a move analysts say is designed to redirect more banking capital toward the domestic economy.
Based on the group’s shareholders’ funds of about N4.25 trillion at the end of 2025, the new threshold implies that foreign equity investments cannot exceed roughly N425 billion under the revised framework.
The restriction places pressure on Access Holdings’ current international structure following several high-profile acquisitions completed over the last year.
Among the group’s recent transactions was the acquisition of a controlling interest in a Mauritian bank through its United Kingdom subsidiary, alongside separate banking acquisitions in Tanzania and The Gambia.
Industry analysts said the latest regulatory position could force the company to restructure ownership arrangements, dilute stakes in selected foreign operations or exit smaller markets where strategic value no longer justifies the capital commitment.
The development comes shortly after Nigerian banks concluded a major recapitalisation exercise introduced under the leadership of CBN Governor Olayemi Cardoso.
Banking sector analysts believe the apex bank is increasingly focused on strengthening domestic financial system stability and ensuring that fresh capital raised by lenders supports local credit creation instead of aggressive offshore expansion.
Despite the regulatory pressure, Access Holdings delivered strong earnings performance in 2025 with profit after tax reaching N743 billion, supported largely by operations in Nigeria and the United Kingdom.
However, some international subsidiaries reportedly recorded losses during the financial year, raising additional questions about capital efficiency across parts of the group’s overseas network.
The bank has not yet disclosed which subsidiaries could face stake reductions or whether discussions with potential investors have commenced.
Market participants said executing multiple cross-border transactions within a 12-month period may prove challenging given valuation expectations, regulatory approvals and broader macroeconomic uncertainties across African financial markets.
The announcement also adds to recent regulatory headwinds facing the group after restrictions linked to loan provisioning requirements affected shareholder dividend distribution for the 2025 financial year.