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Access Holdings’ Shareholders Unanimously Back Capital Raising Plan, Hail Aig-Imoukhuede’s Return as Chairman

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Access Holdings' Shareholders Unanimously Back Capital Raising Plan, Hail Aig-Imoukhuede's Return as Chairman

Access Holdings’ Shareholders Unanimously Back Capital Raising Plan, Hail Aig-Imoukhuede’s Return as Chairman
…Re-elect Olusegun Ogbonnewo, Ojinika Olaghere as a Non-Executive Directors

The shareholders of Access Holdings Plc (“Access Holdings” or “the Group”) at the 2nd Annual General Meeting (AGM) held on Friday, April 19, 2024, unanimously backed the Group’s plan to establish a capital raising programme of up to US$1.5 billion as well as the subset initiative to raise up to N365 billion, specifically, through a Rights Issue of ordinary shares to its shareholders.
The proceeds of the Rights Issue would be used to support on-going working capital needs, including organic growth funding for its banking and other non-banking subsidiaries.
The shareholders also ratified the appointments of Aigboje Aig-Imoukhuede, Olusegun Ogbonnewo, and Ojinika Olaghere as Non-Executive Directors.
The appointment of Aig-Imoukhuede as the Chairman of Access Holdings was praised by the shareholders, who pointed to his rich history of success with the institution, having transformed it into Nigeria’s biggest lender by market value alongside Herbert Wigwe.
Aigboje’s leadership was instrumental in driving the institution’s growth during the 2004 recapitalisation of the banking industry led by the Central Bank of Nigeria (CBN) under the leadership of its former Governor, Prof. Charles Soludo.
“We are thrilled with Aigboje Aig-Imoukhuede’s return to the role of Chairman. His proven track record, experience, and strategic insights position him as the ideal leader to steer Access Holdings towards meeting its lofty targets. During his tenure as CEO, particularly during the recapitalisation directive by the CBN, he steered Access Bank to raise an impressive $2 billion in capital, and this demonstrates his capacity to, once again, lead Access Holdings towards successfully achieving the objectives of our planned Capital Raise and Rights Issue targets,” said Chief Sunny Nwosu, Chairman Emeritus of the Independent Shareholders Association of Nigeria (ISAN).
Access Holdings' Shareholders Unanimously Back Capital Raising Plan, Hail Aig-Imoukhuede's Return as Chairman
In line with the Group’s strong financial performance, the payment of a final dividend of N1.80 kobo per every N0.50 Kobo ordinary share for the 2023 financial year was approved, marking a 28 per cent improvement from the corresponding period in 2022.
The Group’s full-year results for the period ending December 31, 2023, showcased an impressive 335 per cent increase in pre-tax profit to N729 billion from N167.68 billion in 2022. The Group also experienced an 87 per cent surge in gross earnings to N2.59 trillion from N1.39 trillion in 2022 and reported a remarkable 306 per cent growth in profit after tax to N619.32 billion, from N152.20 billion in 2022.
Commencing in the second half of 2024, Access Holdings’ global expansion strategy will enter the consolidation and efficiency phase, aligning with its five-year plan to accelerate the attainment of its 2027 strategic objectives. The Group remains focused on driving sustainable growth, and delivering value to its shareholders even as it continues to build a globally connected community and ecosystem, inspired by Africa, for the world.

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HP and NABU Partner to Bridge Literacy Gap in Nigeria, Launch Creative Lab

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HP and NABU Partner to Bridge Literacy Gap in Nigeria, Launch Creative Lab

 

 

LAGOS, Nigeria, July 22, 2024 — HP Inc (NYSE: HPQ) in partnership with NABU, a pioneering tech-enabled publisher of multilingual children’s books, announced the launch of the NABU HP Creative Lab.

This ground breaking initiative aims to revolutionize literacy, foster a culture of reading and learning among children in Nigeria and create digital equity for families and educators across the country. Additionally, the partnership augments HP’s global vision of accelerating digital equity for 150 million people by 2030.

Global Partnership with HP
HP’s commitment to digital equity is driven by the need to take action, as rapid technology developments, such as AI, could drive a bigger wedge in the digital divide.

Since 2021, HP has been a steadfast supporter of NABU’s vision globally. Together, NABU and HP have launched Creative Labs in Rwanda, the Philippines, Miami and now Nigeria.

NABU HP Creative Labs are physical spaces equipped with HP technology used to empower authors and illustrators to create hundreds of children’s books each year in native languages.

With the launch of the NABU HP Creative Lab in Nigeria, HP is furthering NABU’s bold 6-year expansion plan across Africa, aiming to reach its goal. At HP, we are committed to bridging the digital equity gap and empowering communities through technology.

The NABU HP Creative Lab in Nigeria is a vital step in our mission to advance education and literacy by providing high-quality, culturally relevant resources, we foster a love for reading and ensure every child has the opportunity to succeed.

Together with NABU, we are moving closer to our goal of accelerating digital equity for 150 million people by 2030, transforming lives through storytelling and digital innovation.” Says Emmanuel Asika, Country Head, Nigeria.

Empowering Nigerian Children and Artists Through Storytelling and Technology
NABU is a nonprofit tech-enabled publisher of multilingual children’s books on a mission to ensure every child can read and learn through storytelling and technology. NABU publishes original, engaging stories in mother tongue (native) languages that can be accessed through an app, web reader, and print.
“The opening of the NABU HP Creative Lab in Nigeria marks a significant milestone in NABU’s ambition to create equal access to literacy for 25 million children by 2030.
We are proud to support Nigerian authors and illustrators in creating bilingual stories in Igbo, Hausa and Yoruba that support children’s reading and foster cultural and linguistic pride.
We are honored to continue our longstanding partnership with HP to accelerate digital equity through literacy.
The opening of the NABU HP Creative Lab in Nigeria begins NABU’s expansion into West Africa.” Says Isabel Sheinman, CEO and Co-Creator of NABU.

NABU’s solution bridges opportunity gaps for historically excluded children and families by engaging readers through localized storytelling and providing support for learning, a profound step forward that HP is proudly supporting to achieve its vision of accelerating digital equity across Africa. By empowering children to learn to read in their mother tongue language first, NABU content and HP technology allows children to grow confidence in their reading abilities, feel pride in their culture, and inspire them to expand their learning and reading abilities. NABU’s goal is to ensure 25 million children have access to literacy by 2030.

For more information, visit NABU Nigeria or contact us at [email protected]. You can also donate online here.
For more information on HP’s sustainability programs visit hp.com

 

HP and NABU Partner to Bridge Literacy Gap in Nigeria, Launch Creative Lab

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HOTELIER MOSES OAKHENA HONOURED AS OUTSTANDING PERSONALITY

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HOTELIER MOSES OAKHENA HONOURED AS OUTSTANDING PERSONALITY

 

 

Hotelier Moses Oakhena popularly refer to as Mayor has been honoured as outstanding Personality for his impact in the hospitality business which has contributed positively to the development of his community and lagos state at large

 

The CEO of Mayoral Hotels and Suites situated in Unity Estate Egbeda Lagos State was crowned as ‘Outstanding personality by Mast Mark Media publisher of City Digest Magazine .
The City Digest Excellence Awards dedicated to recognising exceptional accomplishments by product, corporate, institutional and personality brands in Nigeria.

 

Femi Ajolopo, Publisher/CEO of Mast Mark meticulous selection process that led to Oakhena well-deserved recognition. He highlighted the importance of diligence and competence in the decision-making process and commended Mr Moses for his unwavering competence and professionalism in his approach to his business career.

His expertise spans across various core competencies and strategic leadership role in the society Oakhena background in business equips him with the skills to manage resources effectively as it overarches his mission to drive growth and excellence by harnessing his extensive expertise and experience within the dynamic and diverse hospitality business in Nigeria. .The awards not only recognize achievements but also aim to encourage business owner’s to develop innovative and creative in thier business dealings enhancing Nigeria’s image on both local and international fronts.

Oakhena Outstanding Personality Award adds another feather to his cap, acknowledging his outstanding contributions to the Society. Interestingly the award presentation took place on his birthday at his hotel Mayoral Hotel and suites Egbeda, guests were treated to different delicacy and good music from the DJ.

 

HOTELIER MOSES OAKHENA HONOURED AS OUTSTANDING PERSONALITY

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Auto Industry summit: Customs boss, Adeniyi to address challenges of local assemblers as Kia, Carloha, Coscharis, Globe Motors, Others key into maiden event

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Kia, Carloha, Coscharis, Globe Motors, Ineh-Mic, Suzuki, RT Briscoe, TNL, Weststar, Honda, Others Key into maiden event

 

●Globe Motors to showcase locally-assembled Mobile Cooling Van

As momentum gathers for the maiden edition of the Nigeria Auto Industry Summit (NAISU) scheduled to hold at Radisson Lagos, GRA Ikeja, on June 27, 2024, more stakeholders in the automotive sector have expressed their support for the event.

 

 

 

Already, Kia Nigeria, Carloha Nigeria, Coscharis Motors, Globe Motors, Ineh-Mic Motors, Suzuki By CFAO, RT Briscoe, Toyota Nigeria Limited (TNL), Weststar Associates Limited and Honda Automobile Western Africa Limited (HAWA) have committed themselves to the success of the maiden event with full support while others are still being expected to join the moving train.

 

 

 

The event, being organized by the Nigeria Auto Journalists Association (NAJA) in partnership with the National Automotive Design and Development Council (NADDC), continues to excite stakeholders with preparations getting to the advanced stage, as Globe Motors gets ready to showcase its locally-assembled Cooling Van at the summit, which aims to proffer solutions to the challenges being faced by stakeholders.

 

Auto Industry summit: Customs boss, Adeniyi to address challenges of local assemblers as Kia, Carloha, Coscharis, Globe Motors, Others key into maiden event

 

The Comptroller-General of the Nigeria Customs Service (NCS), Mr Bashir Adewale Adeniyi and officials from the Nigeria Ports Authority (NPA) are also expected to address the myriad of challenges facing auto importers at the summit to boost the confidence of stakeholders in the clearing process.

Envisioned as an annual flagship event of the country’s automotive industry to rally all stakeholders together in addressing the challenges facing them, the auto industry summit will recommend practical solutions to the government through a communiqué at the end of the event to fully explore the great potential in the automotive sector for national development.

Expected to be declared open by the Minister of Industries, Trade and Investment, Dr. Doris Uzoka-Anite, the summit, which has as its theme, Reviving Nigeria’s Economy through the Automotive Sector, will have the NADDC Director General, Mr. Joseph Osannipin, as the Chief Host.

The NADDC boss is expected to be supported at the summit by members of the Nigeria Association of Automotive Manufacturers (NAMA) as well as leading stakeholders across Nigeria.

Commenting on the importance of the summit for the development of the country’s automotive sector, Chairman, organizing committee of NAISU, Femi Owoeye, said, “Initiating this summit is vital, especially at this moment in history, when Nigeria is struggling to map its way out of the prevailing global economic despair. Being one of the drivers of the global economy, the automobile industry, if given the necessary impetus in Nigeria, is capable of transforming the country into an automotive manufacturing hub in Africa.

“To this end, the Nigeria Auto Industry Summit shall annually produce significant information compost that would help the government to make it happen. That is why the maiden event is themed: Reviving Nigeria’s Economy through the Automotive Sector.”

On his part, Chairman of NAJA, Mike Ochonma, said, “Significantly, the summit shall bridge the information and communication gap between the nation’s auto industry stakeholders and relevant government agencies.

“Moreover, annually, the summit shall give a single and united voice for the auto industry leaders to set developmental agenda aimed at kick starting and driving relevant government policies towards a sustainable development of the automotive industry in Nigeria and ultimately position the country as a frontline beneficiary of the African Free Trade Agreement Area.”

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