₦airaland Forum

A Nigerian ought to be governor by now in at least in one American state especially Georgia.

Nigerian population is enough to produce a Senator or House of Rep member in Georgia State.

It is a wake up call for security agencies to stop arresting these devils.

If you engage them destroy them. Stop arresting bandits and kidnappers NIGERIA POLICE1

If there's one reason I want BAT to win the forthcoming election it is because of this.
Peter Obi or Atiku presidency may throw spanner in the works.

megawealth01:
This is one IPO I will be buying, one of the first since the 2007 market turmoil...

I have generally stayed away from IPOs over the years, but this one is an exception. I will definitely be participating from day one

NNPC IPO will likely start with 5% to 10% listing, CEO says

ABU DHABI, Nov 3 (Reuters) – Nigeria’s state oil company NNPC is likely to float a 5% to 10% stake in an initial public offering, focused primarily on the domestic market, with a potential secondary listing in London or New York, CEO Bashir Bayo Ojulari told Reuters on Tuesday.

Further listings of NNPC subsidiaries might also take place, echoing moves by the UAE’s state oil firm ADNOC, he added.

Gulf state oil companies have offered outside investors pieces of their businesses while retaining operational control and largely avoiding opening up their main oil-producing divisions.

Nigeria’s Dangote oil refinery attracted 6.4 trillion naira ($4.78 billion) of orders from retail and institutional investors during its domestic IPO, which closed last week, one person involved in the offering told Reuters.

Preparations for any NNPC listing will likely take at least all of next year, with the primary objective to improve NNPC’s transparency and governance as per Nigerian law, and with raising cash only its secondary objective, he said.

Chinese interest in smaller refineries
Ojulari also said that Chinese companies had shown interest in buying stakes — rather than just contracting work — in some of Nigeria’s smaller oil refineries that need big repairs, such as Port Harcourt and Warri.


He has previously said NNPC was in talks with a Chinese engineering company to refurbish at least one of its refineries, which have not worked at full capacity for more than a decade.

NNPC would retain at least 10% in equity under any deal.

Activism na enjoyment. They are no different from politician.

Lagos, Nigeria – November 2, 2026 Group Unaudited Results for the Nine Months Ended 30 September 2026 Stronger Earnings Quality and Resilient Profit Growth Support Continued Scale-to-Value Execution Access Holdings Plc (“the Group”) today announced its unaudited results for the nine months ended 30 September 2026, delivering resilient profit growth and improved earnings quality.

Profit Before Tax increased by 8.3% to ₦667.4 billion, while Profit After Tax rose by 5.9% to ₦474.2 billion. Performance was supported by growth in core income and a significant reduction in impairment charges. Impairment charges declined by 73.5% to ₦92.9 billion, resulting in a 32.1% increase in net interest income after impairment to ₦1.20 trillion. Net fee and commission income increased by 12.4% to ₦534.9 billion, while core operating income grew by 5.4% to ₦1.83 trillion.

The results reflect continued progress under the Group’s Scale-to-Value agenda, with emphasis on stronger execution capacity, robust risk governance and regulatory compliance, disciplined capital allocation, greater operating efficiency and improved capital productivity. Together, these priorities are focused on translating the Group’s scale and diversified franchise into sustainable shareholder returns. GMD/CEO COMMENT Commenting on the results, Group Managing Director/Chief Executive Officer, Innocent C. Ike, said: “Our nine-month results reflect continued progress in translating the strength and scale of Access Holdings into sustainable shareholder returns. “The significant reduction in impairment charges, together with growth in net interest income after impairment and net fee and commission income, demonstrates the resilience of our core earnings base. “As we advance our Scale-to-Value agenda, our priorities remain clear: stronger execution capacity, robust risk governance and regulatory compliance, disciplined capital allocation, greater operating efficiency and improved capital productivity. “These disciplines are fundamental to strengthening the quality and resilience of earnings and delivering sustainable shareholder returns.” FINANCIAL HIGHLIGHTS For the nine months ended 30 September 2026: Financial Metric Gross Earnings 9M 2026 ₦4.0 trillion Year-on-Year Change Interest Income up 2.3% ₦3.1 trillion Net Interest Income (NII) up 6.9% ₦1.3 trillion Impairment Charge up 2.7% ₦92.9 billion Net Interest Income after Impairment Charge down 73.5% ₦1.2 trillion Fee and Commission Income up 32.1% ₦650.9 billion Net Fee and Commission Income up 8.4% ₦534.9 billion Core Operating Income up 12.4% ₦1.8 trillion Profit Before Tax (PBT) up 5.4% ₦667.4 billion Profit After Tax (PAT) up 8.3% ₦474.2 billion EARNINGS PERFORMANCE up 5.9% Interest income increased by 6.9% to ₦3.1 trillion. Interest expense increased by 10.1% to ₦1.8 trillion, resulting in net interest income of ₦1.3 trillion, up 2.7%. Earnings quality improved significantly during the period. Impairment charges declined by 73.5% to ₦92.9 billion, with net interest income after impairment rising by 32.1% to ₦1.2 trillion. Fee and commission income increased by 8.4% to ₦650.9 billion, while fee and commission expense declined by 6.9% to ₦115.9 billion.

As a result, net fee and commission income increased by 12.4% to ₦534.9 billion. Operating expenses increased by 11.8% to ₦1.3 trillion. Improving operating efficiency and strengthening operating leverage remain important priorities under the Scale-toValue agenda. BALANCE SHEET The Group maintained a resilient balance sheet, supported by continued customer deposit growth. 1. Total assets increased by 1.7% to ₦52.6 trillion at 30 September 2026, from ₦51.7 trillion at 31 December 2025. 2. Customer deposits increased by 6.6% to ₦36.8 trillion, while loans and advances to customers increased by 7.4% to ₦14.3 trillion. 3. Shareholders’ funds remained broadly stable at ₦4.5 trillion. Diversified Banking Franchise The Banking Group remained the principal contributor to Group earnings, accounting for 96.0% of Group unaudited Profit Before Tax during the period. Operations outside Nigeria accounted for 82.2% of Banking Group Profit Before Tax. International Banking subsidiaries contributed 43.7%, Rest of Africa 38.5%, and Nigeria 17.8%. The Group continues to leverage its geographic footprint to deepen customer relationships and increase activity across trade finance, transaction banking, payments and treasury services. The increasingly diversified earnings base provides a broader platform from which to improve earnings quality and capital productivity. Under Scale-to-Value, the focus is on converting this scale into sustainable shareholder returns through stronger execution, robust risk governance and regulatory compliance, effective capital allocation and greater operating efficiency. Scale-To-Value Scale-to-Value represents the Group’s progression from building scale to improving the quality and productivity of that scale.

The agenda is anchored on five priorities: Execution Capacity Strengthening accountability and the Group’s ability to translate strategic priorities into measurable outcomes. Risk Governance and Regulatory Compliance Maintaining robust risk and control disciplines and sustained compliance with applicable regulatory requirements across the Group. Capital Discipline Allocating capital with greater emphasis on productivity and risk-adjusted returns. Operating Efficiency Strengthening cost discipline and driving greater efficiency from the Group’s infrastructure and capabilities. Earnings Quality Deepening recurring income streams and strengthening the resilience of earnings. Together, these priorities are intended to improve capital productivity and support sustainable shareholder returns.

Progress on BOFIA Section 19((c) Compliance The Group has made significant progress towards achieving compliance with BOFIA Section 19((c), which limits the Bank's investment in subsidiaries to 10% of shareholders' funds. The Group has identified capital recalls from six banking subsidiaries which, when completed, are expected to bring the Bank's investment-in-subsidiaries ratio within the regulatory threshold. The recall process has already been completed in one subsidiary, while shareholder approvals have been obtained in four of the remaining five subsidiaries. Regulatory approvals are progressing across the five remaining subsidiaries. The Group expects to complete the programme within the CBN's prescribed compliance timeline. Its completion is expected to remove the regulatory constraint on dividend distributions. Outlook The Group remains focused on accelerating execution of its Scale-to-Value agenda. Management priorities include stronger execution capacity, robust risk governance and regulatory compliance, disciplined capital allocation, funding optimisation, greater operating efficiency and improved capital productivity.

The Group will continue to strengthen accountability for execution while maintaining disciplined risk and compliance standards across its businesses. Management will also remain focused on moderating expense growth, strengthening recurring income and improving the conversion of revenue into earnings. The objective is clear: to ensure that the Group’s scale is effectively governed, efficiently deployed and consistently translated into sustainable shareholder returns, underpinned by robust risk governance and regulatory compliance.

Its initial gragra.
By tomorrow some of the stock prices will moderate and even gain.

Megawealth001:
Interesting market.... aradel collekting
Oando colleckting
Nahco colleckting
Access self dey collekt

E go touch errybodi

Let me check the price if I can enter. Traders are probably the ones at work

InvestorHalal:
Not at all. I'm just wondering why such a great company is on full offer even festive is even around the corner.

Those buying and accumulating are dumb? Just wondering

InvestorHalal:
Nahco offloaders doing the bonanza wonders. November will be very long.

BOFIA Compliance and the Dividend Path

Section 19((c) of BOFIA limits the Bank's investment in subsidiaries to 10% of shareholders' funds. The Group has identified capital recalls from six banking subsidiaries to bring the ratio within the threshold. One recall is complete, shareholder approvals have been obtained in four of the remaining five, and regulatory approvals are progressing.



The Group expects to complete the programme within the CBN's prescribed timeline and expects completion to remove the regulatory constraint on dividend distributions, which it cited in its FY2025 dividend clarification. Any dividend will remain subject to the Group's financial position, distributable reserves and regulatory approval. Proshare has examined the sector-wide picture in its review of why some bank dividends are paused.

ghm:
That is part of what we are talking about. Anyone expecting an interim dividend from Access Bank is missing something.

There is a regulatory limitation on their head. The CBN capped foreign subsidiary investments at 10% of shareholders' funds, and Access was at 19.3%. Until that breach is fully remediated and verified by the CBN, no dividend—interim or final—is guaranteed.

Yes, Access says the issue is resolved and they've started selling down stakes in Ghana to comply. But the CBN has not publicly confirmed clearance yet. The right question is not "when is the dividend?" It is: has the CBN formally signed off on Access's compliance?

Until that answer is yes, the dividend is still in regulatory limbo.

They never tell the full story but the part people love to hear

Let it come down to N20 so we can reload

222Martins:
Let the dumping of Access bank begin in 3.......2..........1....... When somebody was propping up Access bids with 50Million and 100M units for days, i knew something was up............ The game was to keep the illusion of demand up, while dumping his shares on the selling side

If you want to run, run now..............Before the USA/Canada sellers of Access Wake up They are yet to see the result that no interim dividend was declared!

I will appreciate if you can explain what you mean by your statement

Agbalowomeri:
At this rate, ACCESS is a deteriorating asset

Investors may complain about the CBN delays but I think its good for investor confidence.

BabsO2:
They never talked bout interim proposal for payment to shareholder, so no surprises. Good to see they are growing and that CBN has validated the numbers with deep scruity.

No interim dividend for Accesscorp. Ba wahala

ELLAH to the moon...where are you?

chimex38:
Revenue increase Y-Y
but Cost of sales=over 45% increase.
Revenue Drop drastically
-Q-Q

Warris goin on?

Mankind you really have insight.
Flesh and blood didn't reveal this to you.

Mankind2024:
ARADEL is effectively working for Shell Petroleum Development Company, OANDO appears to be working for the banks, while SEPLAT seems to be working for the Nigeria Revenue Service (NRS).

Lagos state governors, past and present belong to a different class.

The Group Chief Executive Oando Plc, Jubril Adewale Tinubu, Chairman of BUA Group, Abdul Samad Rabiu, among other Nigerian business moguls have joined President Bola Tinubu in Makkah, Saudi Arabia, for the performance of Umrah, the lesser Islamic pilgrimage.
https://guardian.ng/news/wale-tinubu-rabiu-others-join-president-tinubu-in-makkah-for-umrah/

Wale Tinubu follow BAT go lesser haji. BAT praying for Nigeria, Wale praying for Oando or Oando shareholders

Person dem kidnap dey tell Nigerians say he has been kidnapped. No be police he suppose call?
Sowore wife try!

Im particular about the performance of the stocks I invested in rather than ASI.
I wonder too why some members celebrate ASI.

ositadima1:
Lol, this is something we've been saying for more than two years now. I told you guys not to take the ASI, or similar indices for that matter, too seriously because a few heavyweights would determine their trajectory.

"So you people don't change mouth, okay nah?" 😂

Awesomej was one of the people who engaged me in back-and-forth arguments and counterarguments on this issue back then. Recently, Street has been saying the same thing.

That's why I don't bother engaging in those arguments anymore. The truth is independent of who shouts the loudest or throws the most insults. With time, the truth will always stand out.

Loco insurance don do you wayo

Stockpromoter:
It seems insurance don do us wayo.
Na only Lasaco I dey see small light among Loco insurance stocks.
Loco will never shout bull in a haste with these rubbish results released so far.

For now catalysts have vanished as a result of poor results.

Only Lasaco is on our picks now among the insurance stocks.

WHAT MAKES LASACO ATTRACTIVE AT THE MOMENT

1. Ibile Holdings' 51% ownership: A major shareholder with controlling interest provides a potential strategic catalyst.

2. Ownership restructuring: The change in control could bring fresh capital, improved governance and business direction.

3. Low free float of 12.78%: Limited publicly available shares could amplify price movements when demand increases.

4. Strong Q3 turnaround: ₦1.25bn profit after tax against a ₦4.81bn loss in 2025.

5. Stronger capital base: Shareholders' funds nearly doubled to ₦39.71bn.

This looks like Nigeria

The most hated man on NGX right now us Wale.
I know people here that if Wale cross their path...he will collect

If CBN won't allow them pay interim dividend, it should at least let's have the results and hopefully work with the banks involved to ensure payment of final dividend.
CBN could also just allow them pay interim dividend while letting them know what and what they need to fix to ensure that they get approval for final dividend.
This delay is crazy!

jonnysessy:
This is the first time I am witnessing this in the market. The delay is crazy, all in the name of regulation. Based on these withheld results, one can not properly access this banks, particularly Accesscorp. Without these metrics, one doesn't know the true valuations of these banks.

The elder that raised his hands with the child's toy will surely put down his hands with the toy when his hsnds starts aching him

Pat Utomi has so mixed with politicians that he now behaves like them.
Used to admire him but not anymore.

seunmsg:
Utomi is a big disgrace to all economist all over the world. Dude really fell off so badly. I can't believe this is the same dude I grew up watching and admiring on Patito's gang. He has gone against every single principle he once preached about and advanced in all his economic interventions simply because of the quest for political power.

The issue is no H1 result. No N1 interim dividend announcement and no 3q report.

mikeapollo:
What's the issue ?
Trading at N28.6

ACCESSCORP IS NO LONGER ON THE NGXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

They are yet to deploy the recapitalisation monies.
CBN still holding. I don't know why and for how long.

Agbalowomeri:
Insurance coys don collect recapitalisation money come dey run back to car park

See you in another 20 year