Access Holdings Records N3.9 Trillion Gross Earnings In Nine Months

 

Access Holdings PLC (“the Group” or “the Company”) today announced its nine-month ended September 30, 2025 (“Q3 2025”) results, recording gross earnings of ₦3.9trillion, which represented a rise by 14.1% year-on-year over ₦3.4trillion as at Q3 2024.

This performance was driven by sustained growth in both interest and fees and commission, reflecting the strength of the Group’s diversified earnings base and improved performance from core operations across its banking and non-banking businesses.

Maintaining the same momentum, gross earnings rose by 56.2% quarter-on-quarter from ₦2.5trillion as at Half Year (H1) 2025.

Interest income rose by 21.1% year-on-year to ₦2.9 trillion in Q3 2025, compared to ₦2.4 trillion in Q3 2024. Net interest income also increased by 48.9% to ₦1.3 trillion from ₦845 billion in the same period. This performance was driven by loan book expansion, reflecting our disciplined risk management approach and a strategic focus towards higher-yielding, quality assets to strengthen portfolio returns.

On a quarter-on-quarter basis, interest income and net interest income grew by 42.1% and 27.8%, respectively, from ₦2.0 trillion and ₦984 billion in H1 2025.

There was 44.3% growth in net fee and commission to N476billion in Q3 2025 from N330billion in Q3 2024, reflecting higher transaction volumes and increased customer activity across digital and payment channels across both periods.

On a quarter-on-quarter basis, net fee and commission income also increased by 100.8% from N237billion in H1 2025.

While total non-interest income declined marginally by 8.1% to ₦872 billion in Q3 2025 from ₦984trillion in Q3 2024, the Group’s growth momentum from core operations continues to support overall earnings trajectory.

Operating income rose 18.8% to ₦2.13 trillion in Q3 2025 from ₦1.8trillion in Q3 2024.

Impairment on loans increased by 141.5% to N350billion as of Q3 2025 from N145billion in Q3 2024.

Operating expenses increased marginally by 6.7% in Q3 2025 to N1.2trillion from N1.1trillion in Q3 2024. The cost-to-income ratio (CIR) improved to 54.6% in Q3 2025 from 60.8% as at Q3 2024, as revenue growth outpaced operating expenses. We expect cost-to-income ratio to stay moderated from ongoing efficiency initiatives, cost optimization measures, and stronger revenue across the Group.

Profit before tax (PBT) increased by 10.4% to N616billion in Q3 2025 from N558billion in Q3 2024. Profit after tax moderated to N447billion in Q3 2025 from N458billion in Q3 2024.

Compared to H1 2025 performance, profitability demonstrated resilience, as profit before tax (PBT) increased by 91.9% from N321billion in H1 2025 YTD to N616billion in Q3 2025. Profit after tax (PAT) also showed improvement in the period with a 107.9% increase to N447billion in Q3 2025 from N215 billion as at H1 2025 YTD.

The Group’s balance sheet increased with total assets growing by 25.8% to N52.0trillion in Q3 2025 from N41.5trillion in FY 2024. The growth in balance sheet was supported by customer deposits, which grew by 47.0% to N33.1trillion in Q3 2025 from N22.5trillion in FY 2024. Loans and advances increased by 19.7% to N15.6trillion in Q3 2025 from N13.0trillion in Q3 2024. The Group is positioned to unlock revenue synergies, enhance cross-border collaboration, and drive sustainable earnings growth.

The Group’s strong performance was largely driven by its non-Nigerian subsidiaries, which together contributed over 50% of consolidated results. These subsidiaries continued to deliver strong growth across key metrics, reflecting the benefits of diversification and deepening franchise strength across our African markets. In comparison, the Nigerian operations experienced underperformance during the period, attributable to changing macroeconomic conditions, inflationary pressures, and continued regulatory adjustments. Despite these headwinds, the Group’s diversified structure continued to provide stability and resilience.

The return on average equity (ROAE) stood at 15.4% in Q3 2025, down from 22.2% in Q3 2024, while return on average assets (ROAA) also moderated to 1.3% in Q3 2025 from 1.8% in Q3 2024. The cost-to-income ratio (CIR) improved to 54.6% in Q3 2025 from 60.8% as at Q3 2024.

Looking ahead, Access Holdings will continue to strengthen our franchise across all our markets and businesses, deepen operational resilience, and create sustainable value for all our stakeholders.

SEC Partners CBN, EFCC To Track, Freeze Illicit Digital Wallets

 The Securities and Exchange Commission (SEC) has announced a collaboration with the Central Bank of Nigeria (CBN) and the Economic and Financial Crimes Commission (EFCC) to track and freeze illicit digital wallets used for money laundering and other financial crimes.
 The Director-General of the Commission, Dr. Emomotimi Agama, disclosed this in Abuja while addressing participants at the Abuja Journalists Academy during a lecture on “The Regulation of Digital Assets and Virtual Asset Service Providers in Nigeria.”
Represented by the Head External Relations Department of the SEC, Mrs. Efe Ebelo, Agama said the partnership marked a major step in protecting investors and strengthening integrity in Nigeria’s fast-growing digital finance ecosystem.
“To strengthen enforcement, the SEC is working closely with the Central Bank of Nigeria and the Economic and Financial Crimes Commission to freeze illicit digital wallets and recover criminal proceeds. Our goal is to ensure that innovation serves progress, not predation,” he said.
 The SEC boss noted that Nigeria ranks among the world’s top adopters of digital assets, with more than one-third of the population involved in crypto-related activities.
This, he said, reflects the creativity of Nigerian youth, the spread of mobile technology, and the drive for financial inclusion.
However, he warned that the rapid growth of digital assets has also opened opportunities for abuse.
  He listed common threats such as crypto scams, fake wallet applications, phishing attacks, and ransomware schemes, which have defrauded many unsuspecting citizens.
“Without strong regulation, innovation can quickly become vulnerability,” he cautioned.
“Regulation is not about restriction; it is about building trust and ensuring that innovation strengthens our economy rather than weakens it.”
 To address these challenges, the SEC has established a detailed regulatory framework for Virtual Asset Service Providers (VASPs) under its 2022 Rules on the Issuance, Offering, and Custody of Digital Assets.
 The framework rests on three pillars of licensing, compliance and transparency.
Agama said these measures were part of the Commission’s broader commitment to build a transparent and trustworthy digital asset market that protects investors and discourages criminal activities.
Beyond issuing regulations, he said the SEC is also deploying modern technology to monitor transactions in the digital space. A
 Agama said the Commission now uses blockchain analytics tools and artificial intelligence (AI) to trace transactions, detect fraud, and improve cybersecurity.
 “We are leveraging blockchain analytics, AI, and advanced monitoring systems to strengthen our supervisory capacity,” he explained. “This will help us respond faster to suspicious transactions and protect market integrity.”
 He added that the Commission’s collaboration with the CBN and EFCC would enhance coordination between financial regulators and law enforcement agencies, allowing them to act swiftly against cross-border financial crimes.
 Dr. Agama also placed Nigeria’s regulatory approach within a global context. He said the FATF, through its Recommendation 15, now requires all VASPs worldwide to implement AML and CFT controls.
 He cited other jurisdictions such as the European Union, with its MiCA framework, and the United States, where enforcement against unregistered exchanges has intensified.
“The message globally is clear- digital finance must be as transparent, accountable, and investor-friendly as traditional finance,” the SEC DG stated.
According to Agama, the SEC is committed to maintaining a regulatory balance that supports innovation while safeguarding the financial system from abuse.
“If regulators clamp down too hard, innovation migrates offshore; if they regulate too softly, risks multiply,” he noted. “Our task is to find the right balance, one that encourages creativity while protecting Nigerians from exploitation.”
 He stressed that digital assets were no longer a fringe concept but a structural pillar of modern finance, reshaping markets and redefining trust, ownership, and value exchange globally.
 Agama concluded by reaffirming the SEC’s commitment to building a digital finance ecosystem grounded in ethics and transparency.
“The future of finance is digital, but its foundation must remain ethical, transparent, and trustworthy,” he said. “Trust is the ultimate currency, and as regulators, our highest duty is to preserve it.”
 He urged Nigerian innovators, fintech firms, and investors to embrace responsible innovation, assuring them that the SEC’s goal is to create a secure environment that promotes financial inclusion, investor protection, and national development.
Gov Otti commissions new Court building, reaffirms Judiciary’s role as bulwark against tyranny

 

By Foster Obi

 

Governor Alex Otti of Abia State has reaffirmed his administration’s commitment to strengthening the judiciary as an independent pillar of democracy, describing it as society’s ultimate defence against tyranny and abuse of power.

Speaking at the commissioning of the newly constructed Court Building in Umuene, Isiala Ngwa South Local Government Area, Otti said the judiciary remained “the bulwark against tyranny” and a central institution in defending the rights of citizens in an increasingly complex and technology-driven world.

“Without an effective judicial system, society becomes a jungle where the strong feed on the weak and might confers right,” the Governor declared. “It is therefore to the judiciary and its officers that we owe our freedom to enjoy the inalienable rights that the benevolent Creator has graciously endowed mankind with.”

The Governor recalled that the project was flagged off on October 3, 2024, with a promise to deliver within 12 months—a promise now fulfilled. He said the construction of modern, fully equipped court buildings across all 17 local government areas underscores his administration’s conviction that there can be no meaningful development without equitable access to justice.

Otti explained that his government’s investment in judicial infrastructure was part of a holistic approach to governance that links justice delivery to social order, investor confidence, and community security.

“Progress for us is beyond physical infrastructure,” he said. “An effective judiciary is as important to development as quality roads, power supply, and other basic amenities.”

The Governor commended the Chief Judge of Abia State, Honourable Justice Lilian Abai, for what he called her “focused leadership” and for maintaining the integrity and objectivity of the judicial arm in advancing the boundaries of justice in the State.

He urged judicial officers to remain steadfast and fearless in dispensing justice, especially in a world where technology and social influence have made exploitation and manipulation more sophisticated.

“When victims run to your new judicial altars in tears, do not fail them,” Otti charged. “When you do, the villain is emboldened, innocence is lost, and the seeds of treachery spread.”

Otti also announced that other completed court buildings in the 16 remaining local government areas would be inaugurated over the coming weeks, each equipped with independent power systems, water supply, standard IT tools, and maintenance facilities.

He disclosed plans to begin the construction of two multi-functional, ultra-modern judicial complexes in Aba and Umuahia, each housing 15 courtrooms, a 1,000-seat multipurpose hall, and conference spaces.

“Never again will our judicial officers operate from structures that are below their standing and stature as oracles of truth and conscience,” he said.

The Governor further commended the State’s Attorney-General and Commissioner for Justice, Mr. Ikechukwu Uwanna, SAN, for developing a framework that fosters a strong, respectful relationship between the executive and judicial arms of government.

Otti assured continued executive support for ongoing judicial reforms, emphasizing that institutional strengthening was key to building a fair, prosperous, and peaceful Abia.

“The goal is to build a State that offers equal opportunity to every individual to live out the full expression of their abilities,” he said. “We must shake off mediocrity and refuse to punch below our weight, for we are better than that.”

The Governor concluded by reaffirming his belief that an empowered and incorruptible judiciary would remain the cornerstone of the “New Abia” his administration envisions—a society founded on justice, fairness, and respect for human dignity.

Picture: The Governor in a group photo with the State’s Attorney-General and Commissioner for Justice, Mr. Ikechukwu Uwanna, SAN and, the Chief Judge of Abia State, Justice Lilian Abai.

 

 

 

Otti flags off Abia’s Duct Infrastructure Project, Says State ready to lead Nigeria’s Digital Revolution

By Foster Obi

 

Abia State Governor, Dr. Alex Otti, has declared that the state is determined to take its place among global leaders in the technology-driven economy, as he flagged off the Abia State Duct Infrastructure Development Project in Aba on Wednesday.

Speaking at the event held at Aba Town Hall, Otti said the initiative marks a major step in building the backbone for Abia’s digital transformation — an interconnected underground duct system designed to power reliable broadband access, enhance enterprise innovation, and expand digital opportunities for businesses and residents across the state.

“We no longer want to play at the lower rungs of the global technology ecosystem,” the governor said. We want to function at the apex and compete with the best minds anywhere in the world. The Abia of today is determined to push its people into the league of global entrepreneurs mining the boundless power of human intellect to drive prosperity.”

Otti noted that the duct infrastructure would form the base for Abia’s smart city and digital economy vision, describing it as a bold attempt to transform every development frontline in the state.”

The project, to be executed in partnership with the West Indian Ocean Cable Company (WIOCC), will provide an underground network supporting high-speed internet connectivity, digital services, and technology-driven governance systems across sectors.

“Technology has no sectoral limitations,” Otti said. “The farmer in the village, the shoemaker in Aba, the fashion designer exporting to Europe — all can benefit equally. This infrastructure will support everything from education and health to business, security, and public service.”

The governor emphasized that Abia’s development strategy under his leadership is built on diversification, innovation, and knowledge-based growth. He said the state’s recent strides — from improved fiscal stability and urban sanitation to enhanced security and record capital investments — demonstrate that his administration’s model is delivering measurable progress.

Otti also revealed that the duct project would pave the way for the expansion of broadband access to homes, schools, and offices across the 17 local government areas within the next 18 months, assuring that “no community will be left behind.”

“This project will attract global tech players to Abia,” he noted. “It will lead to new jobs, enterprise partnerships, and a multiplication of entrepreneurial opportunities.”

The governor expressed confidence in WIOCC’s capacity to deliver, citing the company’s track record in managing over 75,000 kilometers of terrestrial and submarine fiber networks across multiple countries and supporting global telecommunications giants.

He commended the Commissioner for Science, Technology and Innovation, Mr. David Kalu; Chief Information Officer, Mr. Gerald Ilukwe; and the project’s technical team for their *“diligence and commitment”, urging them to maintain focus until full completion.

“Tomorrow belongs to those who make the most of the opportunities that today provides,” Otti declared. “With faith in ourselves and the wind in our sails, we shall take tomorrow.”

The Abia State Duct Infrastructure Development Project, according to the governor, aligns with the administration’s broader ambition to position the state as Nigeria’s digital hub, anchored on innovation, efficiency, and a modern service delivery framework.

 

 

 

 

Reject stomach infrastructure – INEC

The Independent National Electoral Commission, INEC, has urged voters in Anambra State to shun vote buying and other inducements ahead of the November gubernatorial election in the state.

In a post on its official X handle on Thursday, the Commission cautioned the electorate against trading their votes for money or material items, stressing that such practices undermine the integrity of elections and hinder meaningful development.

“Reject stomach infrastructure. Demand real development. Say NO to vote buying,” INEC wrote, reiterating its commitment to ensuring a free, fair, and credible poll.

The Commission further appealed to political parties and candidates to engage in issue-based campaigns, focusing on policies and programmes that will improve the welfare of the people, rather than exploiting voters’ economic conditions for electoral gain.

Kaduna: Nenadi Usman, Bashir Saidu leaders of coalition – ADC

The African Democratic Congress (ADC), Kaduna State Chapter says Senator Nenadi Esther Usman and Bashir Saidu are leaders of the coalition in the state not ADC.

A statement issued by the ADC chairman in Kaduna State, Elder Patrick D. Ambut explained that leaders and stakeholders of several political parties, including the Labour Party, have been part of the coalition movement from inception, saying that it is meant to coordinate coalition activities more effectively in Kaduna State.

According to him, “The attention of the African Democratic Congress (ADC), Kaduna State Chapter, has been drawn to certain misrepresentations surrounding the recent appointments of Chairman and Co-Chairman made by the Coalition Partners in Kaduna State.

“For the avoidance of doubt, the ADC as a political party maintains its duly elected leadership structure, which remains intact and unaffected by the appointments made by the coalition partners.

“The Coalition Partners is an alliance of individuals, political parties, and interest groups who have come together in a collective, patriotic effort to rescue Nigerians from the current hardship and maladministration of the rudderless APC government.”

He said that in order to coordinate coalition activities more effectively in Kaduna, it became necessary to designate leadership positions within the coalition, hence the appointment of a Chairman and Co-Chairman.

Ambut said, “These appointments are entirely separate and distinct from the leadership structure of the ADC in Kaduna State. It’s mainly to provide leadership to unite all opposition political leaders in the state. The elected State Executive Committee of the ADC remains in full charge of the party’s affairs and operations within the state.”

Accordingly, he explained that the appointment of Senator Nenadi Usman, the Interim National Chairman of the Labour Party, as Chairman of the coalition efforts in Kaduna State, aligned perfectly with her party’s commitment to the coalition, adding that it is well known that the Labour Party leadership, stakeholders, and even its 2023 presidential candidate have been active participants in the collective rescue mission aimed at liberating Nigerians from the grip of the APC.

He said that the clarification had become necessary to dispel the false narrative being circulated in some quarters that Senator Nenadi Usman had defected to the ADC.

FULafia gets new Vice-Chancellor

The Federal University, Lafia, FULafia, has appointed Prof Mohammed Isa Kida, as the new Vice-Chancellor of the institution.

This was contained in the appointment letter, dated October 29, 2025.

The letter stated that Prof Kida’s tenure will last for a single term of five years, beginning February 11, 2026.

Meanwhile, the university council expressed confidence that he would leverage his wealth of experience to advance the growth and development of the university.

DAILY POST reports that Prof Kida succeeds Prof Shehu Abdul Rahman, who will leave office in February 2026.

Before his appointment, Prof. Kida served as the Dean of the Faculty of Management Science.

The accomplished accountant received his letter of appointment from the Chairman of the FULafia Governing Council, Mrs Lola Fibisola Akande.

Boko Haram attacking churches, mosques – Information Minister

Minister of Information and National Orientation, Mohammed Idris, has said President Bola Tinubu’s administration is working to secure the lives of both Christians, Muslims and Nigerians in general.

Idris said Boko Haram extremists target both mosques and churches, adding that reports that only the North is being attacked were false.

Speaking during an interview on CNN The Exchange, Idris insisted that Nigeria is religiously tolerant.

He said: “We believe and I would reiterate that we do have security challenges in Nigeria, we are not denying this or asking for denial in that direction.

“But what we are saying is that we need to make Nigerians and the world believe that this government is actually working to ensure the security of lives of everyone, Christians, muslims living side by side with each other.

“When you say that only a particular region is being targeted that is not true. We know that some of these Boko Haram extremists have targeted Muslims in the mosques, they have targeted Christians in their churches.

“And that is why we need the world to know that there is indeed this challenge and as a religious issue, it’s not helpful for our country, it will drive us towards division.

“What these criminal elements and extremists want the world to feel that there is a fight between Christians and Muslims, which is not the case, it’s absolutely false.

“The Constitution guarantees the right of citizens to practice their religion whether you are a Christian or Muslim and in the hierarchy of our government there are both Christians and Muslims living harmoniously and working together.”

Board warns Nigerians against fake paramilitary recruitment messages

IMMIGRATION CDCFIBThe Civil Defence, Correctional, Fire and Immigration Services Board has warned Nigerians to beware of fraudulent recruitment messages circulating online, as the 2025 paramilitary recruitment exercise enters a crucial phase.

In a statement posted on its official X handle late Wednesday, the board clarified that it will not contact applicants through email or SMS, stressing that all legitimate updates are available only on its portal.

It urged applicants to visit the site to update their profiles and print examination slips, as part of the ongoing shortlisting process.

“CDCFIB will not send emails or SMS to applicants. Visit our portal, and once shortlisted, update your profile to print your examination slip.

The CDCFIB’s warning follows the release of names of candidates shortlisted for the paramilitary agencies’ computer-based test.

In a statement on Wednesday, the secretary to the board, retired Maj.-Gen. Abdulmalik Jubril, urged candidates who applied for recruitment into any of the four paramilitary agencies to visit its official recruitment portal at https://recruitment.cdcfib.gov.ng from Thursday to check if they had been shortlisted.

“From Thursday, October 30, 2025, candidates are to check if they have been shortlisted for the next stage of the exercise, as well as centres for the Computer-Based Test (CBT).

“Shortlisted candidates are further requested to take note of the venue, date, as well as time scheduled for the CBT,” he said.

The statement enjoined applicants to take note of the correct portal address highlighted to avoid being scammed.

Reps seek FG, CBN support for cassava farmers

House of RepresentativesThe House of Representatives has called on the Federal Government, through the Central Bank of Nigeria, to ensure that cassava farmers have easy access to short-term loans as part of efforts to strengthen food security and expand the agricultural value chain.

The lawmakers also urged President Bola Tinubu to reconstitute the defunct Presidential Committee on Cassava Initiative to enhance the welfare of cassava farmers and reposition the subsector for export competitiveness.

The resolution followed the adoption of a motion sponsored by Canice Nwachukwu (APC, Imo) during Wednesday’s plenary session.

Nwachukwu noted that cassava cultivation had become one of Nigeria’s most organised and promising agricultural ventures, with widespread processing for food products, livestock feed, and industrial applications.

He highlighted that cassava by-products, such as garri, had become major export commodities, contributing significantly to foreign exchange earnings.

Cassava, grown in all 36 states and the Federal Capital Territory, serves multiple economic and nutritional purposes.

Beyond its use as food, cassava peels and starch derivatives are valuable in livestock feed production, pharmaceuticals, and industrial manufacturing.

Nwachukwu said easy access to short-term loans and modern processing equipment would revolutionise cassava farming and enhance farmers’ income and productivity.

“If cassava processing machines and short-term loans are provided, farmers can transform cassava into garri and fufu hygienically and efficiently.

“This will boost market value, improve food quality, and help farmers contribute more to national GDP,” he said.

Nwachukwu added that Nigeria could achieve greater economic diversification by harnessing cassava’s export potential, using it as a viable alternative to crude oil for foreign exchange earnings.

He, however, expressed concern that despite being one of Africa’s largest cassava producers, Nigeria still processed about 90 per cent of its yield locally, largely at the cottage level using rudimentary technology.

“Most processors are women who work under poor hygienic conditions with limited access to credit and modern equipment. These challenges result in low productivity, poor packaging, and minimal profits along the value chain,” he lamented.

Following extensive deliberations, the House urged the CBN to direct the Bank of Agriculture, Bank of Industry, and other financial institutions to create mechanisms that would guarantee cassava farmers easy access to short-term credit facilities.

 

 

The lawmakers also called on the Federal Government to revive the Presidential Committee on the Cassava Initiative Programme (popularly known as the Composite Cassava Flour Initiative of 2002) to promote value addition, research, and farmer support.

Additionally, the House mandated the Federal Ministry of Agriculture and Food Security to embark on extensive training for peasant farmers on cassava production, processing, and packaging to improve standards and competitiveness.

The committees on Agricultural Production and Services and Legislative Compliance were directed to monitor implementation and report back within four weeks for further legislative action.