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Access Holdings Tops in Asset Quality in Proshare’s 2025 Tier 1 Banking Rankings

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Access Holdings PLC has been ranked the Tier 1 bank with the best asset quality in Nigeria, having posted the lowest Non-Performing Loan Ratio (NPLR) at 2.76 percent, according to Proshare’s 2025 Tier 1 Banking Report released, recently. This marks a significant achievement for Access Holdings, reinforcing its leadership in credit discipline, risk management, and sustainable lending practices.

The report, titled “The Class of 2025: Getting Bigger, Bolder, and Dominant”, ranks Access Holdings second overall in the Tier 1 category, placing just behind Ecobank Transnational Incorporated (ETI), which led with a percentile score of 100. Access Holdings followed closely with a 91st percentile ranking, ahead of Zenith Bank at 73 percent, FirstHoldco at 82 percent, UBA at 64 percent, and GTCO at 55 percent.

In terms of NPLR performance, Access Holdings maintained a remarkable 2.76 percent, outperforming Zenith Bank at 3.54 percent, GTCO at 4.07 percent, UBA at 3.80 percent, ETI at 6.25 percent, and FirstHoldco at 6.70 percent. This places Access Holdings at the forefront of asset quality management among Nigeria’s top banks and reaffirms its reputation for operational discipline amid market volatility.

Commenting on the achievement, Bolaji Agbede, Acting Group Chief Executive Officer of Access Holdings PLC, said: “This ranking is not just a measure of our financial health; it reflects the strength of our governance, the quality of our decision-making, and the focus we place on long-term value creation. It is a testament to the discipline of our people and the effectiveness of our pan-African strategy.”

She added: “At Access Holdings, we believe that sustainable success lies in balancing growth with resilience. We will continue to execute with precision, build with purpose, and innovate with integrity as we expand our presence across Africa and beyond.”

The 2025 edition of the Proshare Bank Strength Index (PBSI) introduces a recalibrated framework that reflects the realities of the ongoing recapitalisation exercise in Nigeria’s banking sector. This edition goes beyond traditional financial metrics and incorporates broader determinants of profitability, stability, and stakeholder value. The PBSI model emphasises capital adequacy and scale, asset quality and sustainable growth, digital transformation and earnings diversification, governance quality and board diversity, as well as profitability and cost-efficiency.

Access Holdings demonstrated strong fundamentals across all these parameters. It closed Full Year 2024 with total assets of ₦41.5 trillion and a loan book of ₦13.1 trillion. The Group’s capital adequacy ratio stood at 20.46 percent, while asset growth for the period reached 55.49 percent. Its cost of risk was held at 1.25 percent, net interest margin recorded at 6.80 percent, and earnings growth was an impressive 88.05 percent, all indicators of a business built on financial soundness and execution excellence.

Speaking at the launch event, Olufemi Awoyemi, Chairman of Proshare, described the report as a vital mirror into the shifting dynamics of Nigeria’s financial services industry.

“Access Holdings has proven itself as a strong, adaptive institution. Its robust capital base, successful fundraising, and continental expansion efforts show a group that is not only growing but evolving. As recapitalisation reshapes the banking landscape, institutions like Access Holdings will continue to define the future of finance in Africa.”

He further remarked on the nuance behind ETI’s top ranking, noting, “ETI remains a unique case due to its pan-African structure and relatively limited regulatory exposure within Nigeria. Unlike Access Holdings and other locally regulated groups that must meet the ₦500 billion recapitalisation threshold, ETI’s broad regional footprint dilutes its local obligations. That distinction must be made when interpreting rankings.”

The report concludes that the Class of 2025,  particularly Access Holdings, Zenith, UBA, FirstHoldco, GTCO, and ETI, dominate the banking landscape in terms of capital strength, asset size, loan portfolios, and governance quality. However, Access Holdings stands out for its unique blend of low risk, high growth, and strategic foresight, making it not just a leader in numbers but a frontrunner in shaping the future of African banking. As Nigeria’s financial sector prepares for a more competitive and integrated future, Access Holdings remains committed to building a stronger, smarter, and more inclusive financial services ecosystem across Africa and beyond.

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₦20m Prize Pool: Ecobank’s Top 20 InnovateX Finalists Emerge

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Ecobank Nigeria has announced the Top 20 finalists for InnovateX 2026, its flagship youth innovation challenge powered by Blaze by Ecobank in partnership with Verve. The finalists emerged from a competitive selection process involving 168 teams, comprising 672 undergraduate students from 90 universities across Nigeria.

The grand finale, scheduled for October 30, 2026, at the Ecobank Pan African Centre (EPAC), Lagos, will see the finalists compete for top honours and a share of the ₦20 million prize pool. Five teams will emerge as winners, while the remaining 15 teams will receive consolation prizes and further exposure within Nigeria’s innovation ecosystem.

InnovateX is a youth innovation and entrepreneurship challenge designed to empower young Nigerians to develop and pitch innovative solutions to real-world challenges across banking, technology, business and society. The initiative provides a platform for young innovators to showcase their ideas, compete for financial support and access opportunities for mentorship, skills development and career advancement.

The Top 20 finalists represent diverse sectors, including financial technology, artificial intelligence, sustainability, digital services, education, and enterprise solutions. Among the selected teams are IncluFi, Aselabs, Team Vhorde, Jolt, Kredo, Levromat, Konvoy, Impact, Barrow and Leopard Skin.

Designed for young people aged 16 to 25, InnovateX 2026 attracted aspiring entrepreneurs and innovators seeking to develop practical solutions to real-world challenges. Beyond financial support, participants stand to benefit from mentorship, skills development, industry exposure, networking opportunities and national recognition.

The selection process culminated in regional hackathons held in Lagos, Port Harcourt and Abuja, where participating teams pitched their ideas before panels of industry experts, technology leaders and innovation mentors.

InnovateX provides a platform for engaging emerging talent and encouraging entrepreneurship, connecting Ecobank with promising young Nigerians while reinforcing the Bank’s commitment to digital transformation, innovation and youth empowerment.

Speaking on the initiative, Victor Yalokwu, Head, Products & Analytics, Ecobank Nigeria, said: “InnovateX reflects our commitment to nurturing the next generation of innovators by providing access to the resources, networks, and opportunities they need to transform bold ideas into scalable and impactful ventures.”

Through initiatives such as InnovateX and Blaze by Ecobank, the Bank continues to create opportunities for young people to develop entrepreneurial skills, advance innovative ideas and contribute to economic growth across Nigeria and Africa.

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Green Finance and Sustainability: UBA Launches Group-Wide Climate Action Week

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Africa’s Global Bank, United Bank for Africa (UBA) Plc, has launched a Group-wide Climate Action Week to deepen climate awareness, promote responsible environmental practices and advance sustainable finance across its African and international operations.

The five-day campaign, running from October 26 to 30, 2026, is themed “Banking on Africa’s Climate Future” and reflects the Bank’s commitment to integrating environmental responsibility into its operations, customer engagement and financing solutions.

The initiative commenced with the deployment of waste segregation bins across UBA offices and measures to reduce the use of single-use plastics at the Bank’s head offices. These activities underscore UBA’s commitment to translating sustainability principles into practical actions within its workplace and across its wider ecosystem.

Throughout the week, UBA will disseminate educational content across its media and digital platforms to highlight the causes and consequences of climate change, including its impact on food prices, energy consumption and urban flooding. The campaign will also promote responsible plastic disposal, recycling and the critical role of financial institutions in financing clean energy, sustainable agriculture and other environmentally responsible businesses.

As part of the campaign’s community engagement component, UBA staff volunteers will participate in a Group-wide clean-up exercise on Saturday, November 7, in major cities across its markets. In Nigeria, the exercise will take place in Lagos, Kano and Port Harcourt, mobilising employees to contribute directly to cleaner and healthier communities.

UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, emphasised the importance of collective responsibility in addressing the growing impact of climate change.

“Climate change is no longer a distant environmental concern; it is increasingly shaping everyday life across Africa. We see its effects in rising food costs, increased energy demand and flooding that disrupts homes, businesses and livelihoods.

“At UBA, we believe that building a sustainable future requires collective action, beginning with the choices we make at work, at home and in our communities. Through this Climate Action Week, we are encouraging every member of the UBA Tribe, alongside our customers and other stakeholders, to embrace practical, sustainable habits and inspire others to do the same,” Alawuba said.

As part of its stakeholder engagement activities, UBA will sponsor Climate Convergence Week in Lagos on Friday, October 30, where the Bank will deliver a speaking session and participate in a panel discussion. The engagement will provide an opportunity to showcase UBA Green Finance, highlight the Bank’s sustainability initiatives and explore how financial institutions can support Africa’s transition to a more sustainable and climate-resilient economy.

Alawuba, noted that climate considerations were increasingly important to business resilience, risk management and long-term economic growth.

“Climate change presents significant risks to businesses, communities and economies. These risks can affect business continuity, operating costs and financial performance, making sustainability an increasingly important consideration for both businesses and the financial institutions that support them.

“Through UBA Green Finance, we seek to support eligible businesses investing in cleaner technologies and more sustainable operations. By helping customers explore financing solutions aligned with their needs, we can contribute to a more resilient private sector while unlocking opportunities for sustainable economic growth across Africa,” Alawuba further said.

In a further step towards strengthening its sustainability capabilities, UBA is set to join the Sustainability Professionals Institute of Nigeria (SPIN). The move is expected to deepen the Bank’s environmental, social and governance (ESG) expertise and support the continued professional development of its employees in sustainability-related disciplines.

The Climate Action Week forms part of UBA’s broader sustainability strategy, which integrates environmental responsibility into its Customer First philosophy through responsible business practices, employee engagement, community initiatives and green finance. By combining awareness, practical action and financing solutions, the Bank aims to encourage more sustainable choices while supporting businesses and communities in navigating the challenges and opportunities of climate change.

United Bank for Africa is one of Africa’s leading financial institutions and one of the largest employers in the continent’s financial sector, with approximately 25,000 employees and over 45 million customers globally. Operating in 20 African countries, as well as the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, advancing financial inclusion and leveraging technology to deliver innovative financial solutions.

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UBA Secures Court Order Against Vitol, Four Others in $242m Petroleum Products Diversion Claim

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A Lagos State High Court, last Thursday, granted interim preservative orders of Mareva Injunction against Vitol SA – a Switzerland based Energy Trading company, and four other shipping companies in favour of United Bank for Africa Plc.

The bank alleged Vitol of wrongful release of cargoes of petroleum products which were consigned to the order of United Bank for Africa Plc in the Bills of Lading.

Addressing the Court, Bode Olanipekun, SAN, lead counsel for United Bank for Africa, urged the Court to grant the interim preservative orders against Vitol and the other shippers.

In a ruling on the application, the presiding judge, Honourable Justice K. A. Jose (Mrs.) granted three prayers in UBA’s application, including requests to restrain the dissipation of assets and dealings with funds up to the disputed amount by Vitol S.A.

“Prayers 1–3 are granted as prayed against the 2nd Respondent only,” the judge ruled.

The application was brought pursuant to Order 43 Rule 1 of the High Court of Lagos State (Civil Procedure) Rules 2019 and the Lagos State High Court Practice Direction No. 2 of 2019.

UBA is seeking to contend in the substantive proceedings that Vitol SA and the owners of the vessels, are liable for alleged conversion, misrepresentation and negligence arising from the non-delivery of the petroleum products.

UBA also cited 34 financial institutions and public agencies, including commercial banks, merchant banks, microfinance banks, the Nigerian Ports Authority and the Nigeria Customs Service, in connection with the application.

In an affidavit supporting the application, UBA’s Group Head of Recoveries and Remedial Management, Anthony Chilaka, stated that the bank issued a letter of credit for the benefit of Vitol SA to facilitate a petroleum products transactions.

UBA alleged that the cargo was transported to Nigeria and that the vessels’ masters issued several bills of lading.

The bank further alleged that Vitol subsequently endorsed the bills of lading “to the order of” UBA and handed over the original copies to it.

UBA maintained that the endorsement entitled it to take possession of the cargo upon completion of the voyage.

However, Chilaka stated that the bank had not received the gasoil despite the completion of the voyage.

“The applicant has not been given possession of the gasoil despite completion of the voyage,” the affidavit stated.

UBA alleged that the cargo was instead, applied to the use of another party, contending that the respondents’ failure to deliver it amounted to conversion and negligence.

The bank argued that the respondents had obligations arising from the transaction and the endorsement of the shipping documents, which it claimed were not fulfilled.

The bank alleged that the cargoes associated with those transactions were also diverted to the use of other parties after their voyages, rather than delivered to UBA.

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