Manny Ita
Access Holdings Plc has officially emerged as the largest financial institution in West and Central Africa by asset base, overtaking long-time rivals Zenith Bank and First Bank of Nigeria. According to the 2025 Africa’s Top 100 Banks report released in mid-January 2026, the group now commands a balance sheet of approximately $26 billion (estimated at over ₦42.45 trillion), supported by a Tier 1 capital of roughly $2 billion. This shift at the top of the regional hierarchy highlights a strategic divergence in the Nigerian banking sector; while competitors have focused on profit margins and digital efficiency, Access Holdings has prioritized “scale, geographic reach, and balance-sheet growth” through an aggressive acquisition strategy across the continent.
The group’s ascent is the result of a multi-year “inorganic growth” campaign that saw the completion of four major cross-border takeovers in 2025 alone. Notable deals included the acquisition of a 76% majority stake in Mauritius-based AfrAsia Bank Limited and the finalization of the purchase of National Bank of Kenya from KCB Group. Additionally, the lender successfully integrated Standard Chartered’s consumer and business banking units in Tanzania and The Gambia. These moves have expanded the bank’s footprint to over 20 countries across three continents, with the leadership stating the focus for 2026 would now “shift to consolidation to create value for our stakeholders” following this rapid phase of expansion.
Internal leadership has also stabilized during this period of record growth. In August 2025, the Board of Directors appointed Mr. Innocent Ike as the substantive Group Managing Director and CEO, succeeding Ms. Bolaji Agbede, who had led the organization in an acting capacity for 18 months following the passing of former CEO Herbert Wigwe. Chairman Aigboje Aig-Imoukhuede noted that the company is “thrilled to welcome Mr. Innocent Ike as we move forward,” emphasizing that the transition comes as the bank meets the Central Bank of Nigeria’s new ₦500 billion recapitalization threshold. As of January 2026, Access Holdings remains the most traded stock on the Nigerian Exchange, reflecting high investor confidence in its “pan-African platform with global relevance.”
