Wigwe Seeks Banks’ Collaboration to Tackle Fraud

The Group Managing Director/Chief Executive Officer, Access Bank Plc, Mr. Herbert Wigwe has called for greater collaboration among deposit money banks in the country in order to tackle the rising incidence of fraud in the sector.

Wigwe stated this in an address presented at a stakeholders’ workshop anti-fraud and compliance tagged: “Combating fraud and money laundering –the need for collaboration amongst stakeholders,” organised by the bank in Lagos yesterday.

The workshop was part of events lined up to mark the bank’s compliance and anti-fraud awareness week.

According to the Access Bank boss, banking and financial services play a vital role in any economy.  They spawn growth, create investment opportunities, facilitate the creation of jobs and generally drive economies, he pointed out.

However, he stressed that the sector is susceptible to

Access Bank plans N70bn rights issue

There are indications that Access Bank Plc is planning to raise its capital by way of rights issue.

Reuters reported that Access Bank has been meeting with domestic investors over the past week to gauge interest in a possible rights issue of 60-70 billion naira ($369-$431 million) by the fourth quarter, a fund manager and a banking source with knowledge of the roadshow, had said.

Access Bank , which raised a $400 million in Eurobond in June, wants to bolster its core capital, the fund manager who attended the meetings in Lagos told Reuters, declining to be named. Access Bank was also discussing with investors in Abuja.

An official from Access Bank declined to comment. Banks in Africa’s biggest economy have been

Access Bank meeting investors over possible share sale

Access Bank has been meeting with domestic investors over the past week to gauge interest in a possible rights issue of 60-70 billion naira ($369-$431 million) by the fourth quarter, a fund manager and a banking source with knowledge of the roadshow, said on Thursday.

The lender, which raised a $400 million in Eurobond in June, wants to bolster its core capital, the fund manager who attended the meetings in Lagos told Reuters, declining to be named. Access Bank was also discussing with investors in Abuja.

An official from Access Bank declined to comment.

Banks in Africa’s biggest economy have been boosting their capital levels in recent months, as the industry this year adopts new