Access Bank Plc, KCB Group Complete National Bank of Kenya (NBK) Transaction

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

KCB Group PLC (KCB Group) and Access Bank PLC (Access Bank) have completed the sale of National Bank of Kenya Limited (NBK) to Access Bank Plc, marking the conclusion of a transaction that began in March 2024. This follows the receipt of all regulatory approvals customary for a transaction of this nature.

L-R: Seyi Kumapayi, Executive Director, African Subsidiaries, Access Bank PLC and Lawrence Kimathi, Director of Finance, KCB Group, during the signing ceremony to mark the completion of the sale of National Bank of Kenya to Access Bank PLC in Nairobi on Friday. 

As a result, NBK, where KCB Group had 100% ownership, is now a wholly owned subsidiary of Access Bank Plc. NBK and Access Bank Kenya will continue to operate independently, pending the completion of all integration processes.

The acquisition is a pivotal step in Access Bank’s expansion strategy in East Africa. The combined entity will significantly enhance Access Bank’s presence in Kenya, strengthening the bank’s presence in the region. This move will allow Access Bank to offer an even more robust suite of banking services, catering to the evolving needs of individuals and businesses across Kenya.

Commenting on the completion of the transaction, Roosevelt Ogbonna, Managing Director/Chief Executive Officer of Access Bank Plc, said:

“Finalising this acquisition marks a significant step in our drive towards unlocking the vast potential of East Africa’s financial landscape. Kenya stands at the heart of regional commerce, and with NBK now part of the Access Bank family, are better positioned to leverage our combined strengths to deliver high-impact banking solutions to individuals, businesses, and government institutions alike.

“NBK’s heritage and local expertise, combined with our pan-African network and innovation-led approach, will enable us to serve as a stronger catalyst for economic growth. Our ambition is clear: to be the bridge that connects African businesses to global markets, fuel intra-African trade, and drive inclusive prosperity.

We are excited about what lies ahead as we lay the groundwork for a unified and more resilient banking presence in Kenya that empowers our customers and partners to thrive.”

The transaction reflects ongoing market developments to enhance the banking sector’s resilience.

KCB Group CEO Paul Russo said, “The completion of this transaction marks a significant milestone for KCB Group in our efforts to create and deliver value for our shareholders. We are confident the sale will unlock new opportunities for all the stakeholders.

KCB Group will work closely with Access Bank to ensure a smooth handover, operational transition and collaborate on customary transaction closure processes.

This includes finalising the transfer of systems and governance functions in line with regulatory guidelines and service level commitments.

“KCB Group will also continue to engage relevant stakeholders to ensure compliance and preserve customer confidence throughout the post-transaction integration period,” he added.

George Odhiambo, Managing Director of NBK, added, “NBK has a proud legacy of serving the public sector in Kenya, and this integration with Access Bank offers an exciting opportunity to build on that foundation.

Access Bank’s expertise across corporate, retail, and digital banking – combined with a strong public sector focus – will allow us to serve customers more comprehensively and extend our reach.”

With the legal transaction now completed, both institutions will begin the transition process to ensure a seamless integration. In the interim, customers will continue to access services through their existing banking channels – whether with NBK or Access Bank Kenya.

The immediate priority remains the alignment of operations, unification of teams, and harmonisation of product offerings as the banks move toward functioning as a single, consolidated entity.

Hydrogen, Lagos State Touch Thousands of Business Owners with “Healthy Heart, Healthy Business” Outreach

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

As part of its continued effort to support the growth and sustainability of Nigerian enterprises, Hydrogen Payment Services Company Limited joined forces with Ikeja Local Government Area and the Office of the Medical Officer of Health to deliver the impactful “Healthy Heart, Healthy Business” outreach on Wednesday, May 28, 2025, at the Ikeja Local Government Secretariat.

The initiative successfully engaged a wide range of business owners through a combination of in-person participation and extensive digital awareness campaigns.

Participants benefited from a comprehensive range of free medical screenings, including blood pressure checks, ECGs, malaria and typhoid testing, urinalysis, packed cell volume (PCV), blood sugar monitoring, and more, highlighting the critical connection between good health and business longevity.

Kemi Okusanya, CEO of Hydrogen, commented on the initiative, affirming Hydrogen’s passion for the growth of businesses.

“At Hydrogen, we are deeply committed to the success of Nigerian businesses. As a payment solutions provider, we recognise that healthy entrepreneurs build stronger, more resilient enterprises.

This outreach exemplifies our belief in supporting entrepreneurs beyond just payments.”

Demonstrating this responsibility, Hydrogen donated Sphygmomanometers and Glucometers to indigent and high-risk attendees unable to afford these essential health monitoring devices, empowering them to manage their health beyond the outreach.

Public-private partnerships (PPPs) have become increasingly important in driving sustainable development across various sectors.

By leveraging the unique strengths of both government institutions and private enterprises, PPPs enable more efficient delivery of services, innovation, and expanded reach.

These collaborations foster shared responsibility and resource pooling, making it possible to tackle complex challenges that neither sector could effectively address alone.

Dr. Tawak O.F., Medical Officer of Health for Ikeja, spoke on this, saying, “This partnership with Hydrogen Payment Services Company Limited exemplifies the power of effective public-private collaboration in reaching the heart of our business community.”

“Entrepreneurs often overlook their health while striving for success, but initiatives like this remind us all that good health is an essential part of wealth. We commend Hydrogen for their commitment to not just powering payments, but also powering healthier, more resilient businesses through impactful community engagement,” She added.

Mary, one of the beneficiaries and a merchant in ‘Computer Village’, expressed her gratitude, saying that, “Most of us don’t think about regular hospital checkups.

Mainly, because the cost is too high and some things now are not covered by insurance. Today, Hydrogen and Lagos State have brought doctors for free to our doorstep, and we are very grateful.”

Hydrogen’s full team presence at the event reaffirmed the company’s dedication to forging genuine relationships and standing firmly with the business communities it serves.

Tunji-Ojo Calls for Innovation-Driven Public, Private Sector at Access Bank GLS

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Hon. Dr. Olubunmi Tunji-Ojo, Minister of Interior, delivered a compelling charge to public and private sector leaders at the Access Bank Guest Lecture Series (GLS) held on Friday at the Bank’s headquarters in Victoria Island, Lagos. Speaking on the theme “Dare to Dream, Dare to Innovate,” the Minister outlined a sweeping vision for innovation-driven governance, ethical leadership, and urgent reform in the country’s correctional system.

L-R: Kemi Nanna Nandap, Comptroller General of Immigration; Paul Usoro (SAN), Chairman, Access Bank Plc; Olubunmi Tunji-Ojo, Honourable Minister of Interior; Aigboje Aig-Imoukhuede, Chairman Access Holdings Plc; Bolaji Agbede, Acting Group Chief Executive Officer, Access Holdings Plc; and Roosevelt Ogbonna, Managing Director/Chief Executive Officer, Access Bank Plc, at Access Tower, Victoria Island, during the Guest Lecture Series hosted by Access Bank in Lagos… recently.

In his keynote address, Tunji-Ojo drew on his background as an ethical hacker to illustrate how great leadership, like in cybersecurity, must be proactive, identifying and fixing vulnerabilities before they become crises. “Leadership is not about reacting to problems, it is about foreseeing and solving them before they occur,” he said. “And for that, you must always ask: What is your purpose? How will you execute it? And when is the right time to act?”

Dr. Tunji-Ojo showcased the transformation underway at the Ministry of Interior since he took office, including the clearance of a backlog of over 200,000 unprocessed passport applications and the elimination of ₦28 billion in legacy debt. These achievements, he noted, were realised without additional financial aid from the federal government. Instead, the Ministry deployed a strategy built on system integration, technology innovation, and financial self-sufficiency.

Among the innovations highlighted were the rollout of e-visa platforms, contactless passport renewals for Nigerians in the diaspora, advanced passenger information systems, and the commissioning of a Tier-4 data centre to support round-the-clock immigration services.

In one of the most resonant moments of the event, the Minister spoke passionately about the broken state of Nigeria’s correctional system. He revealed that over 4,000 inmates were being held in custodial centres nationwide simply because they could not afford to pay fines as low as ₦50,000. “This is not a legal crisis, it is a moral one,” he declared. “A society that punishes poverty more harshly than crime has lost its moral compass.”

Dr. Tunji-Ojo explained that the Ministry has since partnered with private donors to secure the release of many of these non-violent offenders and is now pursuing structural reforms that prioritise rehabilitation over punishment.

These include digital case tracking to prevent indefinite detention, vocational training programmes within correctional centres, and public-private partnerships aimed at improving living conditions and operational efficiency. “A correctional facility must correct, not condemn,” he said. “Justice without dignity is injustice in disguise.”

Aigboje Aig-Imoukhuede, Chairman of Access Holdings PLC, who welcomed the Minister to the lecture series, praised his clarity of vision and decisive leadership. “What Dr. Tunji-Ojo has demonstrated is that innovation is not about big budgets, it is about big thinking,” Aig-Imoukhuede said. “His approach to public service reflects the same DNA of impact and excellence that defines Access Group.”

Aig-Imoukhuede noted that the Guest Lecture Series was designed to deepen the conversation around leadership, accountability, and service. “We cannot build the Nigeria we want without leaders who understand systems, value people, and are committed to sustainable change.

Today’s conversation has shown us what that looks like in action.”
The event brought together executives, policymakers, and thought leaders from across the country, reinforcing Access Bank’s role as not only a financial powerhouse but also a platform for national transformation through dialogue, vision, and collaboration.

In his final message, Tunji-Ojo encouraged participants to embrace a personal philosophy of excellence and purpose. “Let Access Bank not just be a financial institution, let it be a philosophy,” he said. “Let Nigeria not just be a country of potential, let it be a nation of performance. It is time to refine our genius, not just export it.”