Published By Business Editor
Nigeria’s first tier market financial institution, Access Bank on Friday, announced its transition into a financial service holding company to be called Access Holdings Plc.
This is coming just as the bank announced the appointment of Mr. Roosevelt Ogbonna as the new Managing Director/ Chief Executive of the bank, while the Group Managing Director/Chief Executive Officer Herbert Wigwe would move over as the Group Managing Director/Chief Executive Officer of the new holding company to be known as Access Corporation. All appointments takes effect from May 1, 2022.
Wigwe in the statement issued on Friday said he would continue to support and supervise the other business verticals that would now become portfolio companies making up the new financial group.
The statement circulated to all its customers, Access Corporation would be trading as a financial corporation that will consist of not only in money market, but trading in a larger financial ecosystem offering new globally connected set of services.
Access Corporation will oversee Access portfolio companies with significant complimentary capacities that would continue to drive profitability to all its owners and shareholders.
Statement by the bank’s Group Managing Director/Chief executive Officer Herbert Wigwe said the new portfolio companies are Access Bank Group, which remains the core of its operations, but now equipped to provide “best-in-class, seamless and consistent customer service not only in Nigeria, but across the 14 subsidiaries in Africa, Europe and Asia.
The Corporation will also have a lending company, meant to service individuals and SMEs, which includes buy now, pay later, car and such other loans, insurance company, a tool to protect businesses and intergenerational wealth. Wigwe said Access Insurance Brokerage would provide top of the range value added insurance brokerage services that covers all virtually all personal and business protection needs.
Here is the statement:
