The parent company of the tier-1 bank noted that over the years, the bank had made substantial progress towards a strong market presence in critical markets and payment pathways across Africa.
Per the statement signed by the firm’s Company Secretary, Sunday Ekwochi, the investment is in the form of tier-1 capital which qualifies as a mandatory convertible instrument and is meant to improve the bank’s shareholders’ funds.
READ ALSO: Polaris Bank customers get access card for airport lounges
The statement added that the Central Bank of Nigeria approved the investment.
The Group Chief Executive of Access Holdings, Herbert Wigwe, said the company remains focused on its quest for growth on the continent.
Wigwe said: “This investment is a capstone initiative following the $500 million additional Tier 1 capital raised by the bank in 2021 and advances its vision to the world’sworld’s most respected African bank.
