eTranzact International Plc has announced a major board reshuffle following the acquisition of a 56.18% controlling stake by Trademarks Global Concepts Limited. The stake, totaling over 5.16 billion shares, was acquired from previous shareholders including Access Bank Plc, Meristem Trustees Limited (for Accelerex Holdings), and eTranzact Global Limited.

In connection with this ownership change, five directors resigned from the board, including those representing the exiting shareholders and two independent non-executive directors. The company has appointed five new directors to replace them, including nominees of Trademarks Global Concepts and two independent non-executive directors. The Central Bank of Nigeria has approved these appointments, which the company states will strengthen its strategic oversight and support its long-term objectives in the digital payments sector.

Access Holdings Plc has announced the retirement of Olanrewaju Bamisebi, its Executive Director of Information Technology and Digitalisation, effective September 30, 2026. The company stated that his departure, which followed the expiration of his contract, serves to align the group’s executive leadership structure with the Central Bank of Nigeria’s Corporate Governance Guidelines for Financial Holding Companies. Under these regulations, a financial holding company is permitted a maximum of two executive directors. The board has commended Bamisebi for his contributions to the group’s digital transformation during his four-year tenure.

Nigerian banks have significantly strengthened their market positions in the 2026 African Banker Top 100 ranking, following a successful industry-wide recapitalisation. The combined Tier 1 capital of Nigerian lenders in the ranking surged by 48 percent to $15.2 billion, outpacing growth in other major African regions.

United Bank for Africa (UBA) led the charge, climbing five places to 15th, while Access Holdings recorded the highest capital growth on the continent at 60.9 percent. Other notable movers included GTBank and Stanbic IBTC, which jumped 35 places. This capital expansion, supported by CBN reforms that saw banks raise over N4.65 trillion, has restored the continental influence of Nigerian lenders, positioning them to better finance infrastructure and intra-African trade. Continent-wide, Tier 1 capital among the top 100 banks reached $155 billion, a nine-year high.

The International Finance Corporation (IFC) reports that while Africa possesses over $2 trillion in institutional capital, a significant portion fails to reach critical businesses and infrastructure due to structural mismatches and perceived risks. Speaking ahead of the upcoming Africa Financial Summit in Luanda, IFC officials noted that the real challenge is not a lack of money, but the difficulty in connecting available savings with viable projects. Experts highlighted the need for local-currency financing solutions and deeper collaboration between commercial banks, pension funds, and development finance institutions to bridge the estimated $400 billion SME and infrastructure financing gap. Nigerian banks, particularly, were identified as pivotal to regional financial integration as global lenders scale back their African presence.

Access Bank has secured full authorisation from the Bank of Namibia to operate as a commercial bank, marking a key milestone in its Southern African expansion strategy. The approval, effective October 2, 2026, allows the Nigerian lender to provide full banking services, including deposit-taking and trade finance, to retail and corporate customers in the Namibian market. This expansion aligns with Access Bank’s broader goal of building a comprehensive African network to facilitate cross-border trade and commerce. The entry is expected to foster increased competition within Namibia’s financial sector and enhance credit access for local businesses.

The Nigerian stock market cooled during the week ended October 2, 2026, as profit-taking in large-cap stocks led the NGX All-Share Index to decline 0.52% to 250,808.27 points. Market capitalization dropped by N812.61 billion to N162.843 trillion, though year-to-date returns remain robust at 61.17%. The shortened trading week, influenced by the Independence Day holiday, saw reduced market activity with total turnover value falling 32.5% to N155.023 billion. Notable decliners included NGXGROUP, ETRANZACT, and several banking heavyweights, while ABC TRANSPORT emerged as the top performer with a 45.10% gain. Analysts suggest the market is shifting into a consolidation phase as investors await Q3 earnings results and assess the impact of recent monetary policy adjustments. Selective stock picking based on fundamental strength and dividend potential is advised over chasing momentum-driven rallies.

The Nigerian Exchange (NGX) is experiencing a period of market cooling as investors engage in profit-taking following a sustained bullish run that has pushed the market to record highs. Leading banking equities, including GTCO, Zenith Bank, UBA, Access Holdings, and Fidelity Bank, have seen notable price corrections, alongside weakness in the industrial and consumer goods sectors.

Despite this retracement, market analysts view the shift as a normal technical correction rather than a fundamental downturn. The All-Share Index, which maintains a year-to-date gain of over 62%, is currently testing resistance levels. Systemic liquidity remains robust, suggesting that investors are reallocating capital rather than exiting the market, with the transition moving from speculative sentiment to an earnings-led investment phase.

The International Finance Corporation (IFC) is launching new risk-mitigation platforms to drive private capital into Nigeria’s strategic sectors, including agriculture, infrastructure, and SMEs. Olivier Buyoya, IFC’s Director for Nigeria and Central Africa, stated the move aims to unlock existing capital currently sidelined by perceived risk. Additionally, the IFC is increasing its focus on local currency financing to protect Nigerian businesses from FX volatility, citing a recent framework agreement with Access Bank as a key model. This initiative is part of a broader push to bridge financing gaps in the real economy, recently underscored by a $50 million facility provided to InfraCredit to support long-term infrastructure projects.

Development finance institutions are intensifying efforts to reduce African countries’ borrowing costs and unlock capital for the real economy. The African Development Bank (AfDB) is launching an initiative to improve data transparency and sovereign credit ratings, aiming to address the high cost of debt often driven by perceived risk. Simultaneously, the International Finance Corporation (IFC) and the Africa Financial Industry Summit (AFIS) are collaborating to mobilize domestic savings toward productive sectors like infrastructure and manufacturing. These initiatives seek to bridge the continent’s estimated $400 billion financing gap by creating platforms that derisk long-term investments for commercial banks and institutional investors.

Access Holdings has significantly expanded its financial inclusion efforts in 2025, providing financial services to 2.528 million low-income individuals and onboarding 78,438 micro, small, and medium enterprises (MSMEs). By leveraging digital infrastructure and its holding company model—including Access Bank, Oxygen X Finance, Hydrogen Payment Services, and Access ARM Pensions—the group is bypassing traditional brick-and-mortar limitations to serve previously unreachable markets. This expansion aims to integrate informal sector participants into the formal economy, fostering business growth and regional economic stability.

Rivers State Governor Siminalayi Fubara is leading an investment drive at the 81st United Nations General Assembly in New York, positioning the state as a prime destination for global capital in the oil and gas, blue economy, and manufacturing sectors. Simultaneously, the state government is strengthening trade ties with Norway, with a focus on diversifying cooperation beyond the established stockfish trade into oil and gas, healthcare, and education. Meanwhile, Access Holdings continues to scale its pan-African payment infrastructure, reporting 2.8 billion transactions processed in 2025 across its network of 60 million customers, highlighting the growing importance of digital financial rails in fostering regional integration and economic activity.

Nigerian stocks listed on the FTSE Russell Frontier Market Index saw significant activity this week, driven by renewed investor interest following Nigeria’s formal return to the index on September 21. Among the 31 constituents, 16 recorded gains, with NAHCO and Fidelity Bank leading the surge. Fidelity Bank also emerged as the most traded stock, recording 893.69 million shares valued at N18.30 billion. Analysts attribute the positive performance in the financial services sector to the recent 350 basis point MPR cut to 23 percent, which is expected to support credit growth and valuations. While foreign interest is anticipated to rise, market experts caution that the full impact of the index reclassification will unfold gradually as institutional investors strategically deploy capital. Total turnover for the index constituents reached 2.21 billion shares worth N120.31 billion, accounting for nearly half of the total market volume for the week.

The Nigerian Exchange Limited (NGX) maintained its bullish momentum for a tenth consecutive session on Wednesday, September 23, 2026, as investors responded to the Central Bank of Nigeria’s (CBN) decision to cut the Monetary Policy Rate by 350 basis points to 23 percent. The All-Share Index rose 0.23 percent to 251,191.02 points, bringing the year-to-date return to 61.42 percent. Trading volume surged by nearly 90 percent, reaching 1.59 billion shares, with strong gains in major financial services stocks including Zenith Bank, GTCO, Access Holdings, and First HoldCo. While market breadth was positive with 43 advancers against 20 decliners, performance among FTSE Russell constituents remained mixed.

President Bola Ahmed Tinubu has extended birthday wishes to Aigboje Aig-Imoukhuede on the occasion of his 60th birthday. In a tribute acknowledging his significant contributions to the Nigerian financial sector, the President highlighted Aig-Imoukhuede’s tenure at the helm of Access Bank, his leadership roles at the Nigerian Stock Exchange, FMDQ Securities Exchange, and EnterpriseNGR. The President further commended his ongoing impact through the Aig-Imoukhuede Foundation, which focuses on public service reform and healthcare development.

The Central Bank of The Gambia has mandated that all commercial banks operating in the country must phase out non-Gambian employees who are not covered by approved expatriate quotas by December 31, 2026. The directive, issued in mid-September, follows an industry study revealing a high number of foreign staff members in violation of the country’s Labour Act 2023. Banks, including subsidiaries of major Nigerian lenders like Access Bank, GTCO, and Zenith Bank, are now required to implement succession plans, prioritize the recruitment of qualified Gambian nationals, and ensure smooth operational transitions.

Access Bank has partnered with the International Trade Centre to support small and medium-sized enterprises across 14 African countries. The three-year initiative, which launches with a pilot in Ghana, aims to boost financial access, promote trade skills, and encourage sustainable business practices, with a specific focus on women-led firms. Meanwhile, OPay is celebrating eight years of operations in Nigeria. The fintech company, which holds a mobile money operator license, is leveraging its market presence to push social impact initiatives, including a 1.2 billion Naira scholarship program and various skills development schemes for youth and women.

A latest review of analyst recommendations from six leading brokerage firms shows BUA Cement, UBA, and MTN Nigeria are among the top consensus picks for late September. Despite the NGX All-Share Index hitting record highs, analysts identified significant upside potential in these and several other stocks, including Access Holdings, ETI, FCMB, GTCO, and Zenith Bank. While banking stocks remain the most favoured sector, non-bank companies like Aradel, NASCON, and AIICO also feature prominently in the brokers’ latest buy lists. Significant valuation gaps persist, with analysts disagreeing on target prices for several major names.

The Nigerian Exchange Group (NGX) hit an all-time high on Monday, with the All-Share Index rising 0.14 percent to 250,156.80 points as Nigeria officially re-entered the FTSE Russell Frontier Market index. The reclassification, which took effect September 21, triggered targeted institutional buying in tier-one banking stocks, most notably Zenith Bank, GTCO, and FirstHoldCo. While the initial influx of global tracker funds led to a marginal market gain, trading patterns indicate deliberate institutional positioning. Market activity surged, with the number of deals increasing by nearly 55 percent, signaling growing international engagement following a three-year hiatus due to liquidity concerns. Analysts expect this positive sentiment to persist as global benchmark funds complete their portfolio adjustments.

Access Holdings has appointed Ifedayo Orimoloye as the Executive Director of Risk Management for Access Bank Plc, effective September 21, 2026. The appointment received approval from the Central Bank of Nigeria. Orimoloye, formerly the Group Chief Risk Officer at the African Development Bank, brings over 25 years of international experience in risk governance and capital management. Access Holdings stated that this addition to the board reinforces its commitment to strong corporate governance and prudent risk management as the institution continues its aggressive expansion across African markets.

Access Bank, a subsidiary of Access Holdings, has successfully redeemed its 500 million dollar senior unsecured Eurobond, which matured on September 21, 2026. The bank utilized its internal foreign currency liquidity to settle the debt, which was originally issued in 2021 with a 6.125 percent coupon rate. According to the bank, this repayment was planned within its asset-liability management framework and has no adverse impact on its operational liquidity. Roosevelt Ogbonna, Managing Director of Access Bank, stated that the move confirms the bank’s strong balance sheet and commitment to meeting investor obligations.