Access Holdings gains 1.52% as Aig-Imoukhuede emerges chairman

Access Holdings Plc inched up by 1.52 per cent on Thursday, a day after Aigboje Aig-Imoukhuede was appointed the chairman of the financial group.

Access Holdings trading under the AccessCorp ticker on the Nigerian Exchange appreciated to N23.35 from N23 on Wednesday.

The volume of its stocks traded also rose to 25,273,345 units compared to 18,240,481 units in the previous trading session.

The return of Aig-Imoukhuede, the pioneer managing director of the Access Bank Group, to the helms of affairs at Access Holdings was announced late Wednesday.

Aig-Imoukhuede replaced Mr Abubakar Jimoh, who remains on the group’s board as an independent non-executive director.

Aig-Imoukhuede returns to the group 10 years after he left following the death of his friend and co-founder, Herbert Wigwe, in February.

Commenting on his appointment, Aig-Imoukhuede, said, “I am thrilled to be back in active service to the Access Group ecosystem. I am confident that working with our directors, our exceptional team of executives and our best-in-class banking and finance professionals, we will deliver outstanding value to our esteemed stakeholders. I am determined that our shared vision, which Dr Wigwe gave everything for, will be realised.”

Meanwhile, there was a lull in trading activities on the local bourse as transaction volume for the day dropped to 226.31 million units from the previous day’s 326.95 million units valued at N7.40bn from 5,823 deals.

The market capitalisation and the All-Share Index inched up by 0.05 per centre as investors gained N28bn.

The market movers were FBN Holdings, which has maintained its stay in the N1tn market cap club with its shares worth N1.26tn, followed by Transcorp Plc and Access Corp.

Market Breadth was negative as seen in 19 gainers and 22 losers.

The banking, consumer, and industrial goods indices recorded gains of 0.25 per cent, 0.38 per cent, and 0.03 per cent, respectively, contributing to the overall bullish performance across sectors.

However, the Insurance index lost 1.16 per cent due to a sell pressure in AIICO, Axa Mansard, Universal Insurance and SUNU Assurances.

The Oil/Gas sector remained subdued.