₦76.5 trillion and counting: Inside the payment surge at GTCO and Access Holdings
Nigerians processed a record ₦79.6 trillion ($49.6 billion) through mobile phones in 2024. GTCO's HabariPay and Access' Hydrogen processed a combined ₦76.5 trillion ($47.7 billion) in transactions in 2024, a 217% increase from ₦24.1 trillion in 2023.
Stanbic IBTC to inject ₦4 billion into fintech subsidiary, Zest
Stanbic IBTC Holdings Plc is recapitalizing Zest Payments Limited with ₦4 billion. The funding represents about 3% of the total ₦148.71 billion capital raising exercise.
GTCO completes ₦209 billion capital raise, ahead of March 2026 deadline
GTCO raised ₦209.41 billion ($135 million) from retail and institutional investors. This capital raise is part of a program mandated by the Central Bank of Nigeria.
Stanbic IBTC will seek shareholders’ approval to raise ₦550bn
Stanbic IBTC Holdings plans to raise ₦550 billion through the sale of bonds and a rights issue. The banking subsidiary of Stanbic IBTC Holdings, a Tier 2 bank with a capital requirement of ₦200 billion, aims to issue debt securities worth ₦400 billion and an additional ₦150 billion through a rights
Access Holdings to raise $1.8bn ahead of Nigerian banks’ recapitalisation
Access Holdings plans to raise $1.5 billion and $287 million to fund its growth plans and meet the new capital requirement by the Central Bank of Nigeria. The central bank increased the minimum capital requirement to $364.56 million by March 31, 2026.
