• Sun. May 26th, 2024

Access Holdings Plc, Africa’s foremost financial services group, has announced the allocation of 23.8 million ordinary shares to several senior executives and executives of its flagship subsidiary, Access Bank, in compliance with the disclosure requirements of the Securities and Exchange Commission and the Nigerian Exchange Limited.

The award of these shares is pursuant to the terms of the company’s shareholders approved Employees Performance Share Plan. Bolaji Agbede, the Acting Group Chief Executive Officer of Access Holdings, Roosevelt Ogbonna, the Managing Director/Chief Executive Officer of Access Bank, and six others were among the beneficiaries of this share allocation, receiving a total of 23,883,790 units of the Group’s shares, valued at a combined N427.13 million.

The disclosure was made via notices duly filed with the Nigerian Exchange Limited on Tuesday.

Roosevelt Ogbonna received the highest number of shares, totaling 12,345,679 units valued at N220.37 million, traded at N17.85 per share. Bolaji Agbede was allocated 2,216,992 units of shares valued at N39.795 million.

Other directors who received shares include Seyi Kumapayi, Executive Director, African Subsidiaries, Access Bank, with 1,234,568 units worth N22.16 million; Iyabo Soji-Okusanya, Executive Director, Commercial and Investment Banking Division, Access Bank, with 1,691,308 units valued at N30.36 million, and Chizoma Okoli, Access Bank’s Deputy Managing Director, Retail South, who received 1,728,395 units valued at N30.85 million.

Dr Gregory Jobome, Executive Director, Risk Management, and Hadiza Ambursa, Executive Director, Commercial Banking, were each allocated 1,728,395 units valued at N30.85 million and N31.02 million respectively. Access Holdings’ Company Secretary, Sunday Ekwochi, was granted 1,210,058 units of the Group’s shares worth N21.72 million.

The shares were vested between May 3rd and May 6th, and it’s important to note that the vesting of these shares does not constitute a purchase or sale transaction in the context of the Exchange’s Rules.

This move by Access Holdings reaffirms its commitment to recognizing and rewarding the contributions of its senior executives while aligning with best corporate governance practices.

Hyacinth Beluchukwu Nwafor

Hyacinth Beluchukwu Nwafor is a seasoned journalist and the CEO/Founder Belch Digital Communications, publishers of Hybrid News Nigeria.

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