Access Bank could be forced to restructure part of its international investment portfolio as it works to meet a regulatory exposure cap introduced by the Central Bank of Nigeria (CBN), according to recent disclosures referenced by Bloomberg.
The new regulatory framework reportedly requires Nigerian banks to keep total investments in foreign subsidiaries within 10 percent of shareholders’ funds, giving lenders a 12-month period to align with the rule.
Based on Access Holdings’ 2025 audited financial results, the bank’s offshore subsidiary investments were valued at approximately ₦446.6 billion, while Access Bank Nigeria’s shareholders’ equity stood at around ₦2.315 trillion. This places its current foreign investment exposure at roughly 19.3 percent, significantly above the regulatory threshold.
To comply fully with the CBN’s benchmark, the bank would need to reduce that exposure to approximately ₦231.5 billion, implying a possible adjustment of nearly ₦215 billion from its current carrying value.
Although the specific wording of the central bank’s directive is yet to be independently verified, Access Holdings’ financial disclosures reveal the group was previously sanctioned ₦200 million for breaching provisions under Section 18(c) of BOFIA 2020, which governs aggregate equity exposure to foreign subsidiaries. This reinforces the seriousness of the regulatory requirement.
Access Bank’s international footprint spans several major African and global markets through subsidiaries operating in the United Kingdom, Ghana, Rwanda, Zambia, Kenya, South Africa, Botswana, Angola, Cameroon, Mozambique, Tanzania, and The Gambia, among others.
One theoretical path to compliance would involve a major recapitalisation of Access Bank Plc itself. Analysts estimate shareholders’ funds would need to expand to about ₦4.466 trillion for current foreign investments to fall within the 10 percent ratio.
That would require raising more than ₦2.15 trillion in additional capital, a scale many market observers consider difficult in the near term.
As a result, selective divestments are emerging as the more realistic option.
The lender has already demonstrated this strategy through its South African business, where it sold 25 percent plus one share while retaining effective control of operations.
Industry analysts say similar transactions could be replicated across other markets, allowing Access Bank to reduce regulatory pressure without sacrificing strategic influence.
Possible approaches include selling minority stakes to local institutional investors, diluting ownership in fully held subsidiaries, or combining targeted stake sales with fresh capital injections.
The final structure of any divestment programme will likely depend on market attractiveness, growth potential, and long-term expansion priorities.
Despite the regulatory challenge, analysts believe Access Bank is positioned to preserve its international growth strategy while adjusting ownership structures to remain compliant with evolving CBN standards.
