The stock price of Access Holdings increased to N23.60 per share on Thursday, following the announcement of Ms. Bolaji Agbede as Acting Group Chief Executive Officer.
The announcement revived investors’ confidence as the stock on Thursday gained N0.3 or 1.29 percent from N23.30 it opened for trading on the floor of the Nigerian Exchange Limited (NGX).
The stock price of Access Holdings for the first time in many days recorded its highest volume, trading at 46,045,541 on the NGX.
The stock price dropped to N23.20 on Monday from N24.75 it opened for trading following the death of Group Chief Executive Officer, Herbert Wigwe on Friday.
It closed at N23.30 per share on Tuesday, representing an increase of 0.43 percent.
The CEO, of Wyoming Capital and Partners, Tajudeen Olayinka stated that the drop in Access Holding is the usual market reaction to price-sensitive information in the immediate to near term.
He expressed further that, “This could be corrected with any positive news from the company, especially now that an Acting Group Managing Director is being put in place.”
So far in 2024, the stock price of Access Holdings has appreciated by 0. 0.65 percent as of February 14, 2024, on the backdrop of Federal government foreign exchange unification and removal of subsidy on fuel.
Access Holdings opened for trading in 2024 at N23.15 per share.
A February 12, 2024 statement by the company’s Board of Directors stated that Agbede’s appointment is subject to the approval of the Central Bank of Nigeria (CBN).
Agbede joined Access Bank in 2003 and has garnered nearly three decades of professional experience cutting across banking and business consultancy services.
She served in different roles at the bank including, Head, Group Human Resources between 2010 and 2022 before she was appointed the company’s founding Executive Director, Business Support in 2022, a role she held until her new appointment
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