Access HoldCo lauds NGX Invest over N351bn capital raise

The Chairman of Access Holding Company Plc, Mr. Aigboje Aig-Imuokhuede, CFR, has praised the Nigerian Exchange Group (NGX) for its digital innovation following the successful completion of a N351 billion Rights Issue, which was undertaken to comply with a regulatory directive from the Central Bank of Nigeria.

In a statement from Access HoldCo, Mr. Aig-Imuokhuede said, “By leveraging the NGX’s E-offering platform – NGX Invest, the Company provided its shareholders with a seamless, efficient, and convenient subscriber experience, significantly reducing barriers and democratising participation in the Rights Issue.”

In an article published by the World Federation of Exchanges, the Group Managing Director and Chief Executive Officer of Nigerian Exchange Group Plc, Mr. Temi Popoola, highlighted that the platform is central to NGX Group’s digital strategy. He explained that it was designed to streamline the distribution of securities within the Nigerian capital market.

The user-friendly interface of NGX Invest enables investors to easily onboard and verify their identities via the Nigeria Inter-Bank Settlement System (NIBSS), using their Bank Verification Number (BVN).

“NGX Invest simplifies the traditionally complex and time-consuming process of investing, reducing it to just a few clicks. This innovation makes it easier for investors across Nigeria, including those in underserved areas, to participate in the capital market,” Mr. Popoola added.

The success of Access HoldCo’s capital raise, which marks the company as the first bank to officially comply with the Central Bank of Nigeria’s Banking Recapitalisation directive, serves as a key endorsement of the NGX Invest platform. It also highlights the potential of NGX Group’s platform to support the growth and business objectives of its issuers.