Access Holdings Plc has said with the transition of the company from a banking structure to an institutional structure, it is in position to increase its customer base from 45 million to 100 million.
Herbert Wigwe, the Group Managing Director of Access Holding Plc, made the forward-looking statement while speaking on the sideline of the closing gong ceremony to commemorate the restructuring and listing of Access Holdings Plc at Nigerian Exchange Limited (NGX). on Thursday.
Herbert noted that with the transitioning, the Holding company would create an ecosystem world platform where, “Nigerians and African can go in and consummate transactions, resolve their lifestyle issues, resolve their mortgage issues, resolve payment issues. It is no longer the narrow definition of banking, it’s far beyond banking. That’s what Access Corporation stands for,” he said.
“Over the next couple of weeks and probably the next reporting period, you’ll see how the performance from the different verticals and then you’ll start to see how each one of them set to support our 45 million customers growing to over a 100 million in the next 5 years,” Wigwe said.
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Speaking earlier, Temi Popoola, the CEO of the Nigerian Exchange Limited (NGX) appreciated the bank for what they have done for the Nigerian capital market while noting that the Exchange’s history would not be complete without mentioning Access Bank. He added that the Exchange relies on partnerships for growth, thus its alliance with institutions that share its chemistry.
The Chairman of Access Holding Plc, Bababode Osunkoya noted that the transition of the company to a holding company signifies the beginning of collaboration and partnership that Access Holding Plc is known for and it will be beneficial partnership to the Exchange, the country and the world at large.
Herbert Wigwe, while appreciating the stockbrokers recalled that the Nigerian Exchange Limited, formerly, Nigerian Stock Exchange (NSE) had been the platform the company went to when the Central Bank of Nigeria increased capitalisation from N2 billion to N25 billion. He added that since the listing of the bank on the Nigerian bourse, the company had grown steadily and witnessed the greatest merger the country.
Wigwe noted that the management of the company had over the years been working tirelessly to ensure return on investment while noting that the company had delivered on all the promises it made to the stockbroking community.
He noted that corporate governance is key to the company as it had at a different point in time in the last 20 years come to the exchange to share its plans.
Welcoming the board and management of Access Corporation, the Doyern, Alhaji Rasheed appreciated the bank and encouraged the company to continue to give the stockbroking community timely and relevant information as this drives investors’ decisions in the market as well.
He, therefore, urged the corporation to list its subsidiaries on the local bourse, adding that being leading company, Access should encourage other companies to list on the local bourse so that the market would be more robust.
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