Access Holdings disclaims unauthorized FY2025 financial

**

Access Holdings, Nigeria's largest banking group by assets, has issued a public disclaimer regarding circulating financial highlights attributed to its FY2025 audited statements. The bank clarified that an unauthorized summary was shared on social media ahead of official channels, creating potential confusion among investors and stakeholders tracking the lender's performance into 2025.

The disclosure reveals a critical gap in the approval timeline: while Access Holdings' audited financial statements have already secured **Securities and Exchange Commission (SEC) approval**, they remain under regulatory review by the Central Bank of Nigeria (CBN). This two-step approval process—standard for systemically important banks—means full public release is still pending final CBN clearance.

## Why is the CBN review taking longer than expected?

The CBN's extended review likely reflects heightened scrutiny of Nigeria's top lenders following a turbulent 2024. The central bank has been monitoring capital adequacy ratios, asset quality metrics, and exposure to foreign exchange volatility—particularly after the naira's significant depreciation against the dollar. Access Holdings, with substantial USD liabilities from its regional footprint, faces close examination on hedging effectiveness and loan loss provisioning.

## What does unauthorized disclosure signal about governance?

The fact that unverified financial summaries circulated before official announcement raises red flags about information management at Africa's largest banking conglomerate. Investors in Access Holdings' equity and debt instruments depend on synchronized, controlled disclosure to ensure fair market access to material information. Premature leaks—whether intentional or negligent—can distort trading and create compliance risks under Nigeria's Securities and Exchange Act.

Access Holdings has a history of proactive communication; this incident appears isolated. However, the bank's statement reaffirming that "audited financial statements remain under regulatory review" suggests the CBN may request supplementary documentation or clarification before final sign-off—a process that could extend into Q2 2025.

## What are the market implications for Access Holdings shareholders?

Delayed full disclosure creates uncertainty at a time when Nigerian bank equities are volatile. Access Holdings' share price has reflected broader concerns about interest rate stability, loan defaults, and CBN policy shifts. FY2025 results will likely show the impact of:

- **Higher funding costs** from elevated money market rates through 2024–2025
- **Credit quality stress** from consumer and SME loan portfolio adjustments
- **FX gains/losses** from the naira's movements against major currencies
- **Capital adequacy metrics** under the CBN's enhanced regulatory framework

The group's diversified regional presence (operating across East and West Africa) may provide earnings diversification, but the delayed CBN approval creates investor frustration during a period when clarity is critical.

**Bottom line:** Access Holdings' disclaimer underscores the importance of following official channels for material disclosures. Investors should await the full CBN-approved audited statements before making portfolio decisions, as the complete financial picture—including management commentary and forward guidance—will only be available upon formal release.

---

**