The decision stems from a strategic move towards enhancing operational effectiveness. Innocent C. Ike, CEO of Access Holdings Plc, emphasized that “efficiency is now a core driver of value.” He stated, “Our goal is not to reduce scale, but to sharpen it.” This approach aligns with the company’s commitment to corporate governance and long-term growth.

In contrast, other companies in the Nigerian Exchange are proceeding with dividend distributions. For instance:

• MTN Nigeria Plc and Okomu Oil Palm Plc propose a final dividend of N15 per share each.
• Seplat Energy Plc is paying about N12.60 per share for Q1 2026.
• BUA Cement has proposed a N10 per share dividend.
• Zenith Bank is distributing a final dividend of N8.75 per share.

The Initiates Plc also approved a total dividend payment of N266.99 million, representing 30 kobo per share for shareholders registered as of April 7th, 2026. This payment is subject to applicable taxes and reflects shareholder approval during the company’s recent Annual General Meeting.

While Access Holdings focuses on internal improvements, it remains uncertain how this decision will impact shareholder sentiment in the long run. The market will be watching closely as other firms continue their profit distributions amid Access’s strategic pause.

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The bank’s profit after tax climbed to N314.02 billion. This robust performance placed Zenith Bank at the forefront of Nigeria’s financial landscape, where the combined profit before tax of seven major banks reached N1.6 trillion in Q1 2026.

Key financial highlights:

• Zenith Bank retained its position as Nigeria’s most profitable lender in Q1 2026.
• The combined profit after tax of these banks rose to N1.27 trillion.
• The aggregate profit before tax of the banks grew by 6.77% from N1.5 trillion in Q1 2025.
• The performance was buoyed by elevated yields on government securities and strong interest income from loans and advances.

The banking sector in Nigeria has shown resilience amid economic challenges such as inflationary pressures and exchange rate volatility. Despite these issues, Zenith Bank’s earnings growth remained steady, even with rising impairment charges and operating costs.

The Central Bank of Nigeria reported that as of March 6, 2026, 30 banks have met new minimum capital requirements. Access Holdings Plc also reported a profit before tax of N272.21 billion, up by 22.2% from the previous year.

This recapitalisation initiative, introduced in 2024, aims to reinforce the stability and long-term capacity of Nigeria’s banking system. Yet, Access Holdings noted a decline in interest income compared to Q1 2025.

The future remains uncertain as financial institutions navigate through these economic challenges while striving to maintain profitability and stability.

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In addition to its impressive profit figures, Access Holdings experienced growth across several key financial metrics. Net interest income rose to N1.36 trillion. Furthermore, net fees and commission income grew by 40.9% to N585.1 billion. Total assets increased by 24.3% to N51.57 trillion.

Customer deposits also saw significant growth, rising by 53.4% to N34.56 trillion. Shareholders’ funds increased by 15% to N4.33 trillion, reflecting strong financial health for the institution.

However, earnings per share declined by 19.33% year-on-year to N13.48, and the impairment charge surged by 113.42% to N523.550 billion, indicating some challenges ahead.

The cost-to-income ratio improved, declining to 51.7% from 56.7% in 2024. Additionally, the bank’s fair value and foreign exchange gain was N1.05 trillion, reflecting a remarkable 152% year-on-year growth.

Innocent Ike, CEO of Access Holdings, commented on the bank’s performance: “Our 2025 performance reflects both the resilience of the Access franchise and the strength of the institution we have built over time.” He added that they have entered a more deliberate optimization phase focused on returns on capital and long-term value creation.

The bank’s gross earnings reached N5.529 trillion, marking a 13.34% increase compared to the previous year. Despite a dynamic operating environment, Access Holdings delivered strong earnings supported by diversified income streams and disciplined execution.

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