Nigeria's Access Bank has obtained shareholders' approval to raise up to 100 billion naira ($504 million) from the debt market either through a public offering or a private placement, the lender said on Thursday.
Lender gets approval for N100 billion debt issue
Access Bank spokesperson Busola Osilaja said the bank had sought the approval as part of requirements to be able to raise funds at an opportune time.
Access Bank spokesperson Busola Osilaja said the bank had sought the approval as part of requirements to be able to raise funds at an opportune time. She said shareholders' voted in favour of the plans at a meeting on Wednesday.
Last year the top tier commercial lender raised 42 billion naira from existing shareholders to fund expansion and lending, less than the 53 billion naira it had planned due to weak equity markets.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Yahaya Bello: School writes EFCC to refund $760k fees paid for ex-Kogi gov's children
Cross River Govt to compensate Calabar/Itu property owners with ₦400m
Tinubu is not afraid to make tough decisions even if they bring hardship
Anambra Govt to distribute new malaria vaccine, aims for malaria-free State
Commuters trek to work - Fuel hike halts Kaduna motorcyclists services
TETFund denies corruption allegation, vows to sanitise tertiary education system
Excessive heat in Kano State may lead to heat-stroke, meningitis cerebrum
Tinubu says Nigeria, Netherlands partnerships will aid economic development
Tinubu mourns Sen Ayogu Eze's passing, extends condolences
ADVERTISEMENT