Business
Access holdings plc reports N642.2bn profit after tax for FY 2024
Access Holdings Plc announced a profit after tax of N642.2bn for the financial year ended December 31, 2024, a four per cent increase from the N619.3bn recorded in 2023.
Access Holdings Plc announced a profit after tax of N642.2bn for the financial year ended December 31, 2024, a four per cent increase from the N619.3bn recorded in 2023
Access Holdings Plc has released its audited financial statement for the year ended December 31, 2024, reporting a profit after tax of N642.2 billion. This represents a four per cent increase compared to the N619.3 billion profit recorded in 2023.
Also read: Obanikoro Accuses Access Bank of Using His Property as Collateral for N1bn Loan without His Consent
The group’s gross earnings saw a significant jump of 88 per cent, reaching N4.88 trillion in 2024, up from N2.59 trillion in the previous year.
Profit before tax also increased by 19 per cent to N867.0 billion in 2024, from N729.0 billion in 2023. This growth in profitability was achieved despite a rise in operating expenses and impairment charges.
However, the group’s income tax expenses saw a substantial increase from N109.7 billion in 2023 to N224.8 billion in 2024, which moderated the final profit after tax.
Despite the higher tax expenses, Access Holdings reported a total comprehensive income of N1.24 trillion for the year, a 20 per cent increase from the N1.03 trillion recorded in 2023.
The earnings per share experienced a slight dip to 1,671 kobo per share in 2024, down from 1,723 kobo in 2023. Profit attributable to the equity holders of the parent company rose to N618.6 billion in 2024, compared to N612.5 billion in the previous year.
Additionally, profit attributable to non-controlling interests increased significantly to N23.6 billion from N6.8 billion.
Access Holdings’ total assets expanded by 56 per cent to N41.5 trillion in 2024, up from N26.7 trillion in 2023. Loans and advances to customers grew by 47 per cent to N11.5 trillion, and customer deposits also increased by 47 per cent to N22.5 trillion.
The ratio of impaired loans to gross risk assets slightly improved to 2.76 per cent from 2.78 per cent in 2023. Total equity attributable to equity holders of the parent increased to N3.36 trillion from N2.08 trillion.
The Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has dismissed allegations that it appropriated the Niger Delta Economic & Investment Summit (NDEIS) brand, insisting it lawfully obtained trademark acceptance for the name and will proceed with its 2026 summit as scheduled.
In a statement issued on September 12, 2026, the chamber described claims by Kunle Nwiwa Junior as “cheap blackmail, misleading, mischievous and a misrepresentation of the facts,” maintaining that it independently developed the summit and followed all required regulatory procedures.
According to NDCCITMA, it applied for and received a Trademark Acceptance Letter for the name Niger Delta Economic & Investment Summit (NDEIS) in August 2025 under File No. NG/TM/O/2025/387284.
The chamber said the chronology of events contradicts allegations that it copied another party’s application, arguing that its trademark acceptance predated the period during which Nwiwa’s own application was reportedly still pending before the relevant authorities.
“Economic Summit” is a generic expression
NDCCITMA further argued that the phrase “Economic Summit” is a generic description widely used for conferences that bring together governments, investors, businesses, development institutions and other stakeholders to discuss investment and economic development.
The chamber maintained that while concepts may be widely used, legal protection only arises from recognised intellectual property rights, including duly registered trademarks and other enforceable proprietary interests.
It therefore rejected suggestions that any individual or organisation has exclusive ownership of the broader concept of an economic summit.
Court grants interim injunction
Addressing reports that the summit had been halted, NDCCITMA said the dispute is already before the Federal High Court in Port Harcourt and that there is no court order restraining the event.
The chamber disclosed that in Suit No. FHC/PHC/CS/57/2026, Justice Stephen Dalyop Pam granted an interim injunction restraining the defendants—Kunle Nwiwa Junior and Keneva Consult Ltd.—from interfering with the planned summit.
According to NDCCITMA, the court also directed the defendants to remove publications, notices, petitions, social media posts and other statements allegedly considered damaging to the chamber’s name, integrity and reputation pending the hearing of its motion for interlocutory injunction.
The matter has been adjourned until September 22, 2026 for further hearing.
Chamber rejects ₦500 million demand claim
NDCCITMA also alleged that it had received a demand from Nwiwa Junior requesting ₦500 million as a condition for abandoning his claims over the summit.
The chamber said the demand was rejected, adding that it subsequently petitioned the Inspector-General of Police over what it described as repeated harassment and threats directed at its officials.
It said the petition sought police intervention, including inviting the complainant for questioning and caution where necessary.
Summit opens September 15
Despite the legal dispute, NDCCITMA reaffirmed that the 2026 Niger Delta Economic & Investment Summit will hold from September 15 to 17, 2026, at the Obi Wali Conference Centre in Port Harcourt, Rivers State.
The summit will be held under the theme “Driving Investment, Innovation & Industrial Growth in the Niger Delta” and is expected to bring together policymakers, investors, business leaders, development partners and industry stakeholders to discuss economic transformation across the region.
The chamber said it remains committed to promoting commerce, industry, trade, mining, agriculture and sustainable economic development throughout the Niger Delta while allowing the courts to determine all outstanding legal issues.
Tinubu Niger Delta summit opens in Port Harcourt as investors and policymakers gather to drive investment, innovation and industrial growth
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